Montauk Renewables (NASDAQ:MNTK) Raised to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Montauk Renewables (NASDAQ:MNTK) from a sell rating to a hold rating in a research note released on Friday morning.

Several other brokerages have also recently weighed in on MNTK. Zacks Research cut Montauk Renewables from a “hold” rating to a “strong sell” rating in a report on Monday, September 15th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Montauk Renewables in a research note on Saturday, September 27th. Three analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $3.33.

Montauk Renewables Stock Performance

NASDAQ:MNTK opened at $2.48 on Friday. Montauk Renewables has a 1-year low of $1.68 and a 1-year high of $6.04. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.77 and a quick ratio of 0.77. The business has a 50 day moving average of $2.08 and a 200 day moving average of $2.13. The company has a market capitalization of $352.80 million, a price-to-earnings ratio of 124.00 and a beta of 0.06.

Montauk Renewables (NASDAQ:MNTK) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.05). The business had revenue of $45.13 million for the quarter, compared to analysts’ expectations of $42.73 million. Montauk Renewables had a return on equity of 1.01% and a net margin of 1.46%. On average, sell-side analysts predict that Montauk Renewables will post 0.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Corient Private Wealth LLC bought a new position in shares of Montauk Renewables during the second quarter valued at $36,000. Brevan Howard Capital Management LP grew its stake in shares of Montauk Renewables by 68.8% during the 2nd quarter. Brevan Howard Capital Management LP now owns 26,774 shares of the company’s stock valued at $59,000 after purchasing an additional 10,911 shares during the period. Jane Street Group LLC increased its position in shares of Montauk Renewables by 6.5% during the 2nd quarter. Jane Street Group LLC now owns 107,351 shares of the company’s stock valued at $244,000 after purchasing an additional 6,517 shares during the last quarter. Marshall Wace LLP increased its holdings in Montauk Renewables by 158.8% during the second quarter. Marshall Wace LLP now owns 56,901 shares of the company’s stock valued at $126,000 after buying an additional 34,914 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in Montauk Renewables in the second quarter worth approximately $72,000. 16.35% of the stock is owned by hedge funds and other institutional investors.

About Montauk Renewables

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.