Montauk Renewables (NASDAQ:MNTK) Shares Down 5.1% – What’s Next?

Montauk Renewables, Inc. (NASDAQ:MNTK) dropped 5.1% during trading on Wednesday . The stock traded as low as $4.30 and last traded at $4.26. Approximately 67,873 shares traded hands during trading, a decline of 59% from the average daily volume of 166,263 shares. The stock had previously closed at $4.49.

Montauk Renewables Stock Performance

The firm has a market capitalization of $605.02 million, a price-to-earnings ratio of 26.38 and a beta of -0.26. The company has a fifty day moving average of $4.13 and a two-hundred day moving average of $4.80. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.04 and a current ratio of 2.04.

Hedge Funds Weigh In On Montauk Renewables

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers increased its stake in shares of Montauk Renewables by 2.6% in the 2nd quarter. Rhumbline Advisers now owns 92,138 shares of the company’s stock valued at $525,000 after purchasing an additional 2,366 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Montauk Renewables by 64.0% in the 2nd quarter. American Century Companies Inc. now owns 95,793 shares of the company’s stock valued at $546,000 after purchasing an additional 37,384 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Montauk Renewables by 1.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 702,914 shares of the company’s stock valued at $4,007,000 after purchasing an additional 10,711 shares during the last quarter. XTX Topco Ltd increased its stake in shares of Montauk Renewables by 13.5% in the 2nd quarter. XTX Topco Ltd now owns 52,255 shares of the company’s stock valued at $298,000 after purchasing an additional 6,226 shares during the last quarter. Finally, Marshall Wace LLP bought a new position in shares of Montauk Renewables in the 2nd quarter valued at $962,000. 16.35% of the stock is owned by institutional investors and hedge funds.

Montauk Renewables Company Profile

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.