Montauk Renewables (NASDAQ:MNTK) Shares Down 6.1%

Montauk Renewables, Inc. (NASDAQ:MNTK)’s share price traded down 6.1% on Monday . The stock traded as low as $5.33 and last traded at $5.35. 262,850 shares traded 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

Several research analysts have recently weighed in on the company. TheStreet cut Montauk Renewables from a “c-” rating to a “d+” rating in a report on Wednesday, March 6th. Scotiabank dropped their target price on Montauk Renewables from $9.00 to $8.00 and set a “sector outperform” rating on the stock in a report on Thursday, April 11th. Finally, B. Riley reduced their target price on Montauk Renewables from $7.00 to $6.00 and set a “neutral” rating for the company in a report on Tuesday, May 7th.

Montauk Renewables Stock Performance

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 market capitalization of $765.92 million, a PE ratio of 38.00 and a beta of -0.18. The company’s fifty day moving average price is $4.81 and its two-hundred day moving average price is $5.77.

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

Hedge Funds Weigh In On Montauk Renewables

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bleakley Financial Group LLC boosted its position in shares of Montauk Renewables by 129.6% during the 4th quarter. Bleakley Financial Group LLC now owns 24,971 shares of the company’s stock valued at $222,000 after purchasing an additional 14,094 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Montauk Renewables by 14.7% in the 4th quarter. Russell Investments Group Ltd. now owns 134,750 shares of the company’s stock valued at $1,226,000 after purchasing an additional 17,240 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its holdings in shares of Montauk Renewables by 32.3% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 8,507 shares of the company’s stock valued at $76,000 after acquiring an additional 2,079 shares during the last quarter. Simplicity Solutions LLC raised its position in shares of Montauk Renewables by 129.6% in the fourth quarter. Simplicity Solutions LLC now owns 24,971 shares of the company’s stock valued at $222,000 after purchasing an additional 14,094 shares during the period. Finally, Vanguard Group Inc. raised its holdings in Montauk Renewables by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 3,470,697 shares of the company’s stock worth $31,618,000 after acquiring an additional 38,605 shares during the period. 16.35% of the stock is owned by 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.