Montauk Renewables (NASDAQ:MNTK) Given New $6.00 Price Target at B. Riley

Montauk Renewables (NASDAQ:MNTK) had its price objective cut by research analysts at B. Riley from $7.00 to $6.00 in a report released on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. B. Riley’s target price indicates a potential upside of 47.78% from the stock’s current price.

Several other equities research analysts have also weighed in on the company. Scotiabank reduced their target price on Montauk Renewables from $9.00 to $8.00 and set a “sector outperform” rating for the company in a report on Thursday, April 11th. TheStreet cut shares of Montauk Renewables from a “c-” rating to a “d+” rating in a research note on Wednesday, March 6th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $7.75.

Montauk Renewables Stock Performance

Shares of Montauk Renewables stock opened at $4.06 on Tuesday. The stock has a market cap of $583.10 million, a PE ratio of 38.00 and a beta of -0.40. Montauk Renewables has a 12 month low of $3.38 and a 12 month high of $10.95. The company has a quick ratio of 3.07, a current ratio of 3.07 and a debt-to-equity ratio of 0.22. The business has a fifty day simple moving average of $4.27 and a 200-day simple moving average of $6.90.

Montauk Renewables (NASDAQ:MNTK) last posted its quarterly earnings results on Thursday, March 14th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.02). Montauk Renewables had a return on equity of 6.32% and a net margin of 8.55%. The company had revenue of $46.81 million for the quarter, compared to analyst estimates of $52.86 million. On average, sell-side analysts anticipate that Montauk Renewables will post 0.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in MNTK. Bleakley Financial Group LLC boosted its position in shares of Montauk Renewables by 129.6% in the fourth quarter. Bleakley Financial Group LLC now owns 24,971 shares of the company’s stock valued at $222,000 after acquiring an additional 14,094 shares during the period. Hosking Partners LLP raised its stake in Montauk Renewables by 13.2% during the 3rd quarter. Hosking Partners LLP now owns 897,071 shares of the company’s stock valued at $8,172,000 after purchasing an additional 104,821 shares during the last quarter. Simplicity Solutions LLC boosted its holdings in Montauk Renewables by 129.6% in the 4th quarter. Simplicity Solutions LLC now owns 24,971 shares of the company’s stock valued at $222,000 after purchasing an additional 14,094 shares during the period. Strs Ohio bought a new stake in Montauk Renewables in the 3rd quarter valued at $144,000. Finally, Vanguard Group Inc. grew its position in Montauk Renewables by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 3,470,697 shares of the company’s stock worth $31,618,000 after purchasing an additional 38,605 shares during the last quarter. 16.35% of the stock is owned by institutional investors.

Montauk Renewables Company Profile

Montauk Renewables, Inc, a renewable energy company, engages in recovery and processing of biogas from landfills and other non-fossil fuel sources. It operates in two segments, Renewable Natural Gas and Renewable Electricity Generation. The company develops, owns, and operates renewable natural gas (RNG) projects that captures methane and prevents it from being released into the atmosphere by converting it into either RNG or electrical power for the electrical grid.