Montauk Renewables, Inc. (NASDAQ:MNTK) Short Interest Update

Montauk Renewables, Inc. (NASDAQ:MNTK) saw a large increase in short interest during the month of March. As of March 13th, there was short interest totaling 1,789,286 shares, an increase of 21.1% from the February 26th total of 1,477,625 shares. Currently, 2.8% of the company’s stock are short sold. Based on an average daily trading volume, of 307,956 shares, the short-interest ratio is currently 5.8 days.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MNTK. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Montauk Renewables in a research report on Thursday, January 22nd. Zacks Research lowered Montauk Renewables from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 17th. Finally, Wall Street Zen upgraded Montauk Renewables from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Three investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $4.00.

Institutional Trading of Montauk Renewables

Institutional investors and hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC bought a new position in Montauk Renewables during the 1st quarter worth approximately $62,000. Jane Street Group LLC increased its holdings in shares of Montauk Renewables by 303.4% in the 1st quarter. Jane Street Group LLC now owns 100,834 shares of the company’s stock valued at $213,000 after acquiring an additional 75,836 shares during the last quarter. Strs Ohio bought a new stake in shares of Montauk Renewables in the 1st quarter valued at approximately $84,000. JPMorgan Chase & Co. raised its position in shares of Montauk Renewables by 25.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 64,772 shares of the company’s stock valued at $144,000 after acquiring an additional 12,974 shares in the last quarter. Finally, Rhumbline Advisers lifted its stake in Montauk Renewables by 12.6% during the second quarter. Rhumbline Advisers now owns 105,881 shares of the company’s stock worth $235,000 after purchasing an additional 11,820 shares during the last quarter. Institutional investors and hedge funds own 16.35% of the company’s stock.

Montauk Renewables Trading Down 1.7%

MNTK opened at $1.13 on Thursday. Montauk Renewables has a 12-month low of $1.07 and a 12-month high of $2.78. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a market capitalization of $160.84 million, a PE ratio of 56.53 and a beta of 0.18. The firm’s fifty day moving average price is $1.50 and its 200 day moving average price is $1.74.

Montauk Renewables (NASDAQ:MNTK) last announced its quarterly earnings data on Wednesday, March 11th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.04). The company had revenue of $43.39 million for the quarter, compared to analyst estimates of $44.39 million. Montauk Renewables had a return on equity of 0.10% and a net margin of 0.15%. As a group, research analysts expect that Montauk Renewables will post 0.19 EPS for the current fiscal year.

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.