Montauk Renewables (NASDAQ:MNTK) Posts Earnings Results

Montauk Renewables (NASDAQ:MNTK) announced its earnings results on Wednesday. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.04), FiscalAI reports. The business had revenue of $43.39 million for the quarter, compared to the consensus estimate of $44.39 million. Montauk Renewables had a net margin of 0.15% and a return on equity of 0.10%.

Montauk Renewables Price Performance

NASDAQ:MNTK traded down $0.12 during trading hours on Friday, reaching $1.29. The stock had a trading volume of 121,079 shares, compared to its average volume of 453,931. The stock has a market capitalization of $183.66 million, a PE ratio of 63.88 and a beta of 0.05. Montauk Renewables has a 52 week low of $1.21 and a 52 week high of $2.78. The company has a 50 day moving average price of $1.58 and a two-hundred day moving average price of $1.83. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.33 and a current ratio of 0.33.

Hedge Funds Weigh In On Montauk Renewables

A number of institutional investors and hedge funds have recently made changes to their positions in MNTK. BNP Paribas Financial Markets raised 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 purchased a new position in shares of Montauk Renewables during the 3rd quarter worth about $28,000. Two Sigma Investments LP bought a new stake in shares of Montauk Renewables during the 3rd quarter worth approximately $34,000. Corient Private Wealth LLC purchased a new position in Montauk Renewables during the 2nd quarter valued at $36,000. Finally, HRT Financial LP bought a new position in Montauk Renewables in the 4th quarter valued at $44,000. 16.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on MNTK shares. Zacks Research raised Montauk Renewables from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 27th. Wall Street Zen raised shares of Montauk Renewables from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Montauk Renewables in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Montauk Renewables has an average rating of “Hold” and an average target price of $3.33.

Montauk Renewables Company Profile

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.