Shares of Montauk Renewables, Inc. (NASDAQ:MNTK) rose 8.3% on Wednesday . The company traded as high as $11.20 and last traded at $11.11. Approximately 8,329 shares were traded during trading, a decline of 93% from the average daily volume of 114,957 shares. The stock had previously closed at $10.26.
Separately, Zacks Investment Research raised shares of Montauk Renewables from a “sell” rating to a “hold” rating in a report on Wednesday, July 21st.
The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.32. The business’s fifty day simple moving average is $7.86 and its two-hundred day simple moving average is $9.28.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Morgan Stanley grew its position in shares of Montauk Renewables by 48.2% during the second quarter. Morgan Stanley now owns 6,303 shares of the company’s stock worth $48,000 after acquiring an additional 2,051 shares during the last quarter. Geode Capital Management LLC grew its position in Montauk Renewables by 6.4% in the 2nd quarter. Geode Capital Management LLC now owns 82,646 shares of the company’s stock valued at $633,000 after buying an additional 4,968 shares during the last quarter. JPMorgan Chase & Co. purchased a new position in Montauk Renewables in the 1st quarter valued at $66,000. Thompson Siegel & Walmsley LLC purchased a new position in Montauk Renewables in the 1st quarter valued at $73,000. Finally, Jane Street Group LLC purchased a new position in Montauk Renewables in the 1st quarter valued at $117,000. Institutional investors and hedge funds own 1.97% of the company’s stock.
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. 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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