Montauk Renewables (NASDAQ:MNTK) Lowered to “Hold” Rating by Zacks Research

Zacks Research lowered shares of Montauk Renewables (NASDAQ:MNTK) from a strong-buy rating to a hold rating in a research note issued to investors on Tuesday,Zacks.com reports.

Several other research firms also recently issued reports on MNTK. Wall Street Zen raised Montauk Renewables from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Weiss Ratings reiterated a “sell (d)” rating on shares of Montauk Renewables in a research note on Thursday, January 22nd. Three investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Montauk Renewables currently has an average rating of “Reduce” and a consensus price target of $4.00.

Montauk Renewables Stock Down 6.0%

NASDAQ:MNTK opened at $1.26 on Tuesday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.48. Montauk Renewables has a twelve month low of $1.20 and a twelve month high of $2.78. The company has a market cap of $179.35 million, a PE ratio of 63.03 and a beta of 0.05. The company’s 50 day moving average is $1.56 and its two-hundred day moving average is $1.80.

Montauk Renewables (NASDAQ:MNTK) last posted its quarterly earnings results on Wednesday, March 11th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.04). Montauk Renewables had a return on equity of 0.10% and a net margin of 0.15%.The company had revenue of $43.39 million during the quarter, compared to analysts’ expectations of $44.39 million. Analysts anticipate that Montauk Renewables will post 0.19 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in MNTK. BNP Paribas Financial Markets lifted its position in Montauk Renewables by 92.3% during the third quarter. BNP Paribas Financial Markets now owns 13,175 shares of the company’s stock valued at $26,000 after purchasing an additional 6,323 shares during the period. Virtu Financial LLC acquired a new stake in Montauk Renewables during the 3rd quarter worth about $28,000. Corient Private Wealth LLC acquired a new stake in Montauk Renewables during the 2nd quarter worth about $36,000. Two Sigma Investments LP purchased a new position in shares of Montauk Renewables during the 3rd quarter valued at about $34,000. Finally, R Squared Ltd purchased a new position in shares of Montauk Renewables during the 3rd quarter valued at about $49,000. Hedge funds and other institutional investors own 16.35% of the company’s stock.

About Montauk Renewables

Montauk Renewables Holdings, Inc is a renewable energy company headquartered in Irving, Texas, specializing in the capture and conversion of landfill gas into clean energy products. The company’s core operations focus on the design, development and operation of landfill gas collection systems that extract methane and other biogases generated by municipal solid waste. Montauk processes this gas into renewable natural gas (RNG) suitable for pipeline injection and also generates electricity for sale to utilities and commercial consumers.

Through its subsidiaries, Montauk provides a suite of environmental and waste‐management services across the United States and Canada.