Montauk Renewables (NASDAQ:MNTK) Shares Break Above Fifty Day Moving Average – Time to Sell?

Montauk Renewables, Inc. (NASDAQ:MNTK)’s share price passed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $2.31 and traded as high as $2.38. Montauk Renewables shares last traded at $2.37, with a volume of 588,978 shares trading hands.

Analyst Ratings Changes

MNTK has been the topic of several research reports. Weiss Ratings upgraded Montauk Renewables from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, September 24th. Zacks Research upgraded Montauk Renewables from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, September 1st. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Montauk Renewables has a consensus rating of “Hold” and a consensus price target of $1.80.

Montauk Renewables Trading Down 6.8%

The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.57. The firm’s 50 day simple moving average is $2.32 and its two-hundred day simple moving average is $1.74. The stock has a market cap of $314.57 million, a P/E ratio of 36.84 and a beta of 0.66.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of MNTK. Bank of America Corp DE bought a new position in shares of Montauk Renewables during the second quarter valued at approximately $70,000. Ieq Capital LLC acquired a new stake in shares of Montauk Renewables during the 2nd quarter worth approximately $52,000. BlackRock Inc. acquired a new stake in shares of Montauk Renewables during the 2nd quarter worth approximately $7,347,000. Deutsche Bank AG bought a new stake in shares of Montauk Renewables in the 2nd quarter worth approximately $76,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Montauk Renewables in the 2nd quarter worth approximately $306,000. 16.35% of the stock is owned by institutional investors and hedge funds.

About Montauk Renewables

Montauk Renewables, Inc is a renewable energy company that develops, owns and operates projects that capture methane from landfills and other organic waste sources. The company converts this biogas into renewable natural gas (RNG), which can be used as a lower-carbon transportation fuel or delivered into natural gas pipelines.

In addition to RNG production, Montauk Renewables generates renewable electricity from landfill gas at certain facilities. Its activities may also generate environmental attributes, including renewable identification numbers and other credits associated with the use of renewable fuels.