Montauk Renewables (NASDAQ:MNTK) Stock Price Down 6.1%

Montauk Renewables, Inc. (NASDAQ:MNTK)’s share price traded down 6.1% during trading on Monday . The company traded as low as $5.33 and last traded at $5.35. 262,850 shares changed hands during mid-day trading, a decline of 22% from the average session volume of 336,945 shares. The stock had previously closed at $5.70.

Analyst Ratings Changes

MNTK has been the topic of a number of recent analyst reports. B. Riley reduced their target price on Montauk Renewables from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Tuesday, May 7th. TheStreet lowered shares of Montauk Renewables from a “c-” rating to a “d+” rating in a research report on Wednesday, March 6th. Finally, Scotiabank cut their price target on shares of Montauk Renewables from $9.00 to $8.00 and set a “sector outperform” rating on the stock in a research report on Thursday, April 11th.

Montauk Renewables Stock Down 6.5 %

The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.27 and a current ratio of 2.27. The firm has a fifty day simple moving average of $4.81 and a 200-day simple moving average of $5.77. The firm has a market cap of $765.92 million, a price-to-earnings ratio of 38.00 and a beta of -0.18.

Montauk Renewables (NASDAQ:MNTK) last announced its earnings results on Thursday, May 9th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.03. The business had revenue of $38.79 million during the quarter. Montauk Renewables had a net margin of 10.58% and a return on equity of 8.44%. During the same period in the previous year, the firm posted ($0.03) EPS. As a group, sell-side analysts expect that Montauk Renewables, Inc. will post 0.25 EPS for the current year.

Institutional Investors Weigh In On Montauk Renewables

Several institutional investors and hedge funds have recently added to or reduced their stakes in MNTK. Jacobs Levy Equity Management Inc. increased its holdings in shares of Montauk Renewables by 81.0% during the first quarter. Jacobs Levy Equity Management Inc. now owns 502,682 shares of the company’s stock worth $2,091,000 after buying an additional 224,895 shares in the last quarter. Tidal Investments LLC bought a new position in Montauk Renewables in the first quarter valued at about $368,000. Vanguard Group Inc. raised its position in Montauk Renewables by 1.7% in the first quarter. Vanguard Group Inc. now owns 3,593,935 shares of the company’s stock valued at $14,951,000 after purchasing an additional 59,375 shares during the last quarter. PEAK6 Investments LLC bought a new stake in shares of Montauk Renewables during the third quarter worth about $389,000. Finally, Janus Henderson Group PLC increased its stake in shares of Montauk Renewables by 81.3% in the first quarter. Janus Henderson Group PLC now owns 71,323 shares of the company’s stock valued at $296,000 after buying an additional 31,974 shares during the period. 16.35% of the stock is currently owned by institutional investors.

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.