Montauk Renewables, Inc. (NASDAQ:MNTK) Given Consensus Rating of “Reduce” by Analysts

Montauk Renewables, Inc. (NASDAQ:MNTK) has been given a consensus rating of “Reduce” by the five brokerages that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $1.80.

MNTK has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Montauk Renewables in a research note on Friday, July 17th. Zacks Research cut shares of Montauk Renewables from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 14th.

Hedge Funds Weigh In On Montauk Renewables

Hedge funds have recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in Montauk Renewables in the second quarter valued at $7,347,000. GSA Capital Partners LLP acquired a new position in shares of Montauk Renewables during the 2nd quarter worth $314,000. Bank of New York Mellon Corp purchased a new stake in shares of Montauk Renewables in the 2nd quarter worth about $306,000. Citadel Advisors LLC boosted its position in shares of Montauk Renewables by 178.4% in the 3rd quarter. Citadel Advisors LLC now owns 204,707 shares of the company’s stock worth $411,000 after buying an additional 131,164 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Montauk Renewables by 174.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 177,855 shares of the company’s stock valued at $357,000 after acquiring an additional 113,083 shares during the last quarter. 16.35% of the stock is owned by hedge funds and other institutional investors.

Montauk Renewables Trading Up 21.0%

Shares of MNTK stock opened at $2.13 on Thursday. The business’s fifty day moving average price is $1.74 and its 200 day moving average price is $1.56. Montauk Renewables has a 1-year low of $1.07 and a 1-year high of $2.57. The firm has a market capitalization of $303.18 million, a PE ratio of 35.51 and a beta of 0.54. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.62 and a quick ratio of 0.62.

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.