Montauk Renewables (NASDAQ:MNTK) to Repurchase $5.00 million in Outstanding Stock

Montauk Renewables (NASDAQ:MNTK) declared that its board has authorized a share buyback plan on Tuesday, April 15th, RTT News reports. The company plans to buyback $5.00 million in shares. This buyback authorization authorizes the company to buy up to 1.8% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Montauk Renewables Stock Performance

NASDAQ:MNTK opened at $1.99 on Wednesday. The stock has a market cap of $285.24 million, a P/E ratio of 12.44 and a beta of 0.05. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.17. The business’s 50-day moving average price is $2.94 and its two-hundred day moving average price is $4.05. Montauk Renewables has a twelve month low of $1.75 and a twelve month high of $6.22.

Montauk Renewables (NASDAQ:MNTK) last announced its earnings results on Thursday, March 13th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.11). Montauk Renewables had a net margin of 11.80% and a return on equity of 8.88%. The company had revenue of $27.74 million during the quarter, compared to analysts’ expectations of $59.92 million. As a group, equities analysts predict that Montauk Renewables will post 0.19 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MNTK has been the topic of a number of recent analyst reports. Scotiabank lowered their price target on shares of Montauk Renewables from $6.00 to $4.00 and set a “sector perform” rating on the stock in a report on Friday, April 11th. UBS Group lowered their target price on shares of Montauk Renewables from $6.25 to $3.00 and set a “neutral” rating on the stock in a research note on Friday, March 14th. Finally, B. Riley cut their price target on shares of Montauk Renewables from $4.00 to $3.00 and set a “neutral” rating for the company in a report on Friday, March 14th.

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.