Montauk Renewables (NASDAQ:MNTK) Given New $2.00 Price Target at Scotiabank

Montauk Renewables (NASDAQ:MNTK) had its price target lowered by Scotiabank from $4.00 to $2.00 in a research note released on Wednesday,Benzinga reports. Scotiabank currently has a sector perform rating on the stock.

Other equities research analysts have also recently issued reports about the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Montauk Renewables in a research note on Thursday, January 22nd. Zacks Research upgraded Montauk Renewables from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 15th. Finally, Wall Street Zen upgraded Montauk Renewables from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Montauk Renewables presently has a consensus rating of “Hold” and a consensus price target of $2.00.

Montauk Renewables Trading Up 2.9%

Montauk Renewables stock opened at $1.44 on Wednesday. The stock has a 50-day moving average of $1.37 and a two-hundred day moving average of $1.65. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.11 and a current ratio of 1.11. Montauk Renewables has a one year low of $1.07 and a one year high of $2.78. The stock has a market cap of $206.27 million, a PE ratio of 72.04 and a beta of 0.18.

Montauk Renewables (NASDAQ:MNTK) last released its quarterly earnings results on Wednesday, March 11th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.04). Montauk Renewables had a net margin of 0.15% and a return on equity of 0.10%. The business had revenue of $43.39 million during the quarter, compared to analysts’ expectations of $44.39 million. On average, research analysts anticipate that Montauk Renewables will post 0.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Geode Capital Management LLC raised its stake in shares of Montauk Renewables by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 1,724,933 shares of the company’s stock worth $2,881,000 after purchasing an additional 37,315 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Montauk Renewables by 1.9% in the fourth quarter. Renaissance Technologies LLC now owns 342,700 shares of the company’s stock worth $572,000 after purchasing an additional 6,300 shares during the last quarter. Citadel Advisors LLC raised its stake in shares of Montauk Renewables by 178.4% in the third quarter. Citadel Advisors LLC now owns 204,707 shares of the company’s stock worth $411,000 after purchasing an additional 131,164 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Montauk Renewables by 18.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 196,032 shares of the company’s stock worth $327,000 after purchasing an additional 30,273 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in Montauk Renewables by 174.6% during the third quarter. JPMorgan Chase & Co. now owns 177,855 shares of the company’s stock valued at $357,000 after acquiring an additional 113,083 shares in the last quarter. 16.35% of the stock is currently owned by hedge funds and other institutional investors.

About Montauk Renewables

Montauk Renewables Holdings, Inc is a renewable energy company headquartered in Irving, Texas, specializing in the capture and conversion of landfill gas into clean energy products. The company’s core operations focus on the design, development and operation of landfill gas collection systems that extract methane and other biogases generated by municipal solid waste. Montauk processes this gas into renewable natural gas (RNG) suitable for pipeline injection and also generates electricity for sale to utilities and commercial consumers.

Through its subsidiaries, Montauk provides a suite of environmental and waste‐management services across the United States and Canada.