Montauk Renewables (NASDAQ:MNTK) Shares Gap Down to $14.20

Shares of Montauk Renewables, Inc. (NASDAQ:MNTKGet Rating) gapped down prior to trading on Friday . The stock had previously closed at $14.20, but opened at $13.77. Montauk Renewables shares last traded at $14.06, with a volume of 1,047 shares changing hands.

Separately, Roth Capital reiterated a “buy” rating on shares of Montauk Renewables in a research note on Monday, March 21st.

The stock has a market cap of $1.91 billion, a P/E ratio of 236.71 and a beta of -0.88. The firm’s fifty day moving average price is $12.07 and its two-hundred day moving average price is $10.99. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.98 and a quick ratio of 2.98.

Montauk Renewables (NASDAQ:MNTKGet Rating) last released its quarterly earnings results on Tuesday, May 10th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.07). The firm had revenue of $32.17 million during the quarter, compared to the consensus estimate of $39.70 million. Montauk Renewables had a return on equity of 5.74% and a net margin of 5.79%. During the same period in the previous year, the company posted ($0.10) EPS. On average, research analysts expect that Montauk Renewables, Inc. will post 0.38 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Morgan Stanley bought a new position in shares of Montauk Renewables during the first quarter valued at about $51,000. Bank of America Corp DE grew its stake in shares of Montauk Renewables by 449.7% during the second quarter. Bank of America Corp DE now owns 28,342 shares of the company’s stock valued at $217,000 after buying an additional 23,186 shares during the last quarter. Citadel Advisors LLC bought a new position in shares of Montauk Renewables during the second quarter valued at about $302,000. Millennium Management LLC grew its stake in shares of Montauk Renewables by 88.7% during the second quarter. Millennium Management LLC now owns 59,341 shares of the company’s stock valued at $455,000 after buying an additional 27,893 shares during the last quarter. Finally, BlackRock Inc. bought a new position in shares of Montauk Renewables during the third quarter valued at about $4,992,000. 5.04% of the stock is currently owned by institutional investors and hedge funds.

Montauk Renewables Company Profile (NASDAQ:MNTK)

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 capture methane and prevents it from being released into the atmosphere by converting it into either RNG or electrical power for the electrical grid.

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