Montauk Renewables (NASDAQ:MNTK) Cut to Hold at Zacks Research

Zacks Research lowered shares of Montauk Renewables (NASDAQ:MNTK) from a strong-buy rating to a hold rating in a report issued on Tuesday,Zacks.com reports.

Other research analysts have also recently issued research reports about the company. Weiss Ratings restated a “sell (d)” rating on shares of Montauk Renewables in a research note on Thursday, January 22nd. Wall Street Zen upgraded Montauk Renewables from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Three investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $4.00.

Montauk Renewables Price Performance

MNTK opened at $1.23 on Tuesday. Montauk Renewables has a 52-week low of $1.18 and a 52-week high of $2.78. The company has a 50 day moving average of $1.55 and a two-hundred day moving average of $1.80. The company has a market cap of $175.08 million, a P/E ratio of 61.53 and a beta of 0.05. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.48.

Montauk Renewables (NASDAQ:MNTK) last issued its 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, analysts expect that Montauk Renewables will post 0.19 earnings per share for the current year.

Hedge Funds Weigh In On Montauk Renewables

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. HRT Financial LP acquired a new stake in Montauk Renewables during the 4th quarter valued at approximately $44,000. Deutsche Bank AG raised its position in shares of Montauk Renewables by 20,885.3% in the 4th quarter. Deutsche Bank AG now owns 47,007 shares of the company’s stock valued at $79,000 after purchasing an additional 46,783 shares in the last quarter. Two Sigma Investments LP acquired a new position in shares of Montauk Renewables in the 3rd quarter valued at approximately $34,000. Corient Private Wealth LLC purchased a new position in shares of Montauk Renewables during the 2nd quarter valued at approximately $36,000. Finally, Brevan Howard Capital Management LP boosted its stake in shares of Montauk Renewables by 68.8% during the 2nd quarter. Brevan Howard Capital Management LP now owns 26,774 shares of the company’s stock valued at $59,000 after buying an additional 10,911 shares during the last quarter. 16.35% of the stock is 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.