Brokerages Set Montauk Renewables, Inc. (NASDAQ:MNTK) Price Target at $1.80

Montauk Renewables, Inc. (NASDAQ:MNTK) has been given a consensus rating of “Reduce” by the five ratings firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating and four have issued a hold rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $1.80.

Several equities research analysts recently issued reports on MNTK shares. UBS Group cut their price objective on shares of Montauk Renewables from $2.85 to $1.60 and set a “neutral” rating for the company in a research report on Friday, April 24th. Scotiabank cut their price objective on shares of Montauk Renewables from $4.00 to $2.00 and set a “sector perform” rating for the company in a research report on Wednesday, April 22nd. Weiss Ratings restated a “sell (d)” rating on shares of Montauk Renewables in a research report on Tuesday, April 21st. Zacks Research cut shares of Montauk Renewables from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. Finally, Wall Street Zen upgraded shares of Montauk Renewables from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th.

Montauk Renewables Price Performance

Montauk Renewables stock opened at $1.55 on Tuesday. Montauk Renewables has a 12-month low of $1.07 and a 12-month high of $2.78. The stock has a market cap of $220.63 million, a P/E ratio of 77.54 and a beta of 0.47. The company has a 50-day moving average price of $1.33 and a 200 day moving average price of $1.55. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.57.

Montauk Renewables (NASDAQ:MNTK) last released its quarterly earnings data on Wednesday, March 11th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.04). Montauk Renewables had a return on equity of 0.28% and a net margin of 0.40%.The firm had revenue of $43.39 million for the quarter, compared to analyst estimates of $44.39 million. Sell-side analysts anticipate that Montauk Renewables will post 0.08 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC purchased a new position in Montauk Renewables during the first quarter worth about $62,000. Brevan Howard Capital Management LP boosted its stake in Montauk Renewables by 68.8% during the second quarter. Brevan Howard Capital Management LP now owns 26,774 shares of the company’s stock worth $59,000 after buying an additional 10,911 shares during the period. Invesco Ltd. boosted its stake in Montauk Renewables by 35.0% during the fourth quarter. Invesco Ltd. now owns 31,055 shares of the company’s stock worth $52,000 after buying an additional 8,054 shares during the period. HRT Financial LP purchased a new position in Montauk Renewables during the fourth quarter worth about $44,000. Finally, Corient Private Wealth LLC purchased a new position in Montauk Renewables during the second quarter worth about $36,000. 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.