Montauk Renewables (NASDAQ:MNTK) Shares Gap Down to $3.65

Montauk Renewables, Inc. (NASDAQ:MNTK)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $3.65, but opened at $3.54. Montauk Renewables shares last traded at $3.57, with a volume of 34,323 shares.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on MNTK. B. Riley cut their target price on shares of Montauk Renewables from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Thursday, March 7th. Scotiabank cut their price objective on Montauk Renewables from $9.00 to $8.00 and set a “sector outperform” rating for the company in a research report on Thursday, April 11th. Finally, TheStreet cut Montauk Renewables from a “c-” rating to a “d+” rating in a report on Wednesday, March 6th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $8.00.

Montauk Renewables Trading Up 1.6 %

The company has a quick ratio of 3.07, a current ratio of 3.07 and a debt-to-equity ratio of 0.22. The business’s fifty day moving average is $4.64 and its two-hundred day moving average is $7.27. The firm has a market cap of $544.32 million, a price-to-earnings ratio of 34.46 and a beta of -0.49.

Montauk Renewables (NASDAQ:MNTK) last released its earnings results on Thursday, March 14th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.02). The firm had revenue of $46.81 million during the quarter, compared to analyst estimates of $52.86 million. Montauk Renewables had a net margin of 8.55% and a return on equity of 6.32%. Equities analysts anticipate that Montauk Renewables, Inc. will post 0.29 earnings per share for the current fiscal year.

Institutional Trading of Montauk Renewables

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bleakley Financial Group LLC grew its position in shares of Montauk Renewables by 129.6% during the 4th quarter. Bleakley Financial Group LLC now owns 24,971 shares of the company’s stock worth $222,000 after buying an additional 14,094 shares during the period. Hosking Partners LLP raised its position in shares of Montauk Renewables by 13.2% during the 3rd quarter. Hosking Partners LLP now owns 897,071 shares of the company’s stock valued at $8,172,000 after acquiring an additional 104,821 shares during the last quarter. Strs Ohio acquired a new position in shares of Montauk Renewables in the 3rd quarter valued at $144,000. Vanguard Group Inc. increased its holdings in Montauk Renewables by 1.1% in the third quarter. Vanguard Group Inc. now owns 3,470,697 shares of the company’s stock valued at $31,618,000 after purchasing an additional 38,605 shares during the last quarter. Finally, Simplicity Solutions LLC lifted its stake in Montauk Renewables by 129.6% in the fourth quarter. Simplicity Solutions LLC now owns 24,971 shares of the company’s stock valued at $222,000 after buying an additional 14,094 shares during the period. 16.35% of the stock is owned by institutional investors.

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