Meitav Investment House Ltd. Makes New Investment in Montauk Renewables, Inc. (NASDAQ:MNTK)

Meitav Investment House Ltd. bought a new position in Montauk Renewables, Inc. (NASDAQ:MNTK) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 5,093 shares of the company’s stock, valued at approximately $292,000.

Several other large investors also recently added to or reduced their stakes in MNTK. Lazard Asset Management LLC bought a new stake in Montauk Renewables in the first quarter worth approximately $52,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Montauk Renewables in the first quarter valued at approximately $54,000. Allspring Global Investments Holdings LLC raised its position in shares of Montauk Renewables by 145.9% in the second quarter. Allspring Global Investments Holdings LLC now owns 9,646 shares of the company’s stock valued at $72,000 after purchasing an additional 5,723 shares during the period. UBS Group AG grew its position in shares of Montauk Renewables by 72.2% in the fourth quarter. UBS Group AG now owns 6,503 shares of the company’s stock valued at $72,000 after purchasing an additional 2,727 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Montauk Renewables in the second quarter valued at about $76,000. 16.28% of the stock is owned by institutional investors.

Montauk Renewables Stock Performance

MNTK opened at $9.27 on Friday. The stock has a market cap of $1.33 billion, a PE ratio of 77.25 and a beta of -0.25. The company has a current ratio of 3.55, a quick ratio of 3.55 and a debt-to-equity ratio of 0.24. Montauk Renewables, Inc. has a 1 year low of $5.46 and a 1 year high of $13.18. The stock’s 50 day simple moving average is $9.60 and its 200-day simple moving average is $8.50.

Analysts Set New Price Targets

MNTK has been the topic of several research analyst reports. TheStreet raised Montauk Renewables from a “d+” rating to a “c” rating in a research report on Friday, November 10th. Scotiabank raised Montauk Renewables from a “sector perform” rating to a “sector outperform” rating and set a $9.00 price objective for the company in a research report on Monday, November 13th. Finally, UBS Group increased their price objective on Montauk Renewables from $7.00 to $9.50 in a research report on Tuesday, July 25th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Montauk Renewables has a consensus rating of “Hold” and an average target price of $8.13.

About Montauk Renewables

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.