Montauk Renewables (NASDAQ:MNTK) Reaches New 52-Week Low at $3.52

Montauk Renewables, Inc. (NASDAQ:MNTK)’s stock price reached a new 52-week low on Wednesday . The stock traded as low as $3.52 and last traded at $3.52, with a volume of 69215 shares trading hands. The stock had previously closed at $3.61.

Analyst Ratings Changes

MNTK has been the subject of several research reports. B. Riley dropped their price objective 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. TheStreet cut Montauk Renewables from a “c-” rating to a “d+” rating in a research note on Wednesday, March 6th. Finally, Scotiabank cut their price objective on Montauk Renewables from $9.00 to $8.00 and set a “sector outperform” rating on the stock in a report on Thursday, April 11th. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $8.00.

Montauk Renewables Stock Performance

The stock has a market capitalization of $498.64 million, a P/E ratio of 31.18 and a beta of -0.49. The company has a current ratio of 3.07, a quick ratio of 3.07 and a debt-to-equity ratio of 0.22. The company has a 50-day moving average price of $4.93 and a two-hundred day moving average price of $7.47.

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

Institutional Trading of Montauk Renewables

Hedge funds have recently bought and sold shares of the business. Bleakley Financial Group LLC lifted its holdings in shares of Montauk Renewables by 129.6% in the fourth quarter. Bleakley Financial Group LLC now owns 24,971 shares of the company’s stock valued at $222,000 after purchasing an additional 14,094 shares in the last quarter. Hosking Partners LLP grew its stake in shares of Montauk Renewables by 13.2% in the 3rd quarter. Hosking Partners LLP now owns 897,071 shares of the company’s stock worth $8,172,000 after acquiring an additional 104,821 shares in the last quarter. Strs Ohio purchased a new stake in shares of Montauk Renewables in the third quarter valued at about $144,000. Charles Schwab Investment Management Inc. lifted its position in shares of Montauk Renewables by 4.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 498,080 shares of the company’s stock valued at $4,538,000 after purchasing an additional 20,139 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Montauk Renewables by 1.1% during the third quarter. Vanguard Group Inc. now owns 3,470,697 shares of the company’s stock worth $31,618,000 after purchasing an additional 38,605 shares during the last quarter. Institutional investors and hedge funds own 16.35% of the company’s stock.

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.