Montauk Renewables, Inc. (NASDAQ:MNTK) Stock Now Rated “Hold” by Wall Street Brokerages

Shares of Montauk Renewables, Inc. (NASDAQ:MNTK) have been assigned a consensus rating of “Hold” from the five analysts that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $1.80.

A number of research firms recently issued reports on MNTK. Weiss Ratings upgraded Montauk Renewables from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, September 24th. Zacks Research upgraded Montauk Renewables from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, September 1st.

Institutional Investors Weigh In On Montauk Renewables

A number of hedge funds have recently added to or reduced their stakes in the stock. Ieq Capital LLC acquired a new stake in shares of Montauk Renewables in the 2nd quarter worth about $52,000. Bank of America Corp DE bought a new stake in Montauk Renewables in the 2nd quarter valued at about $70,000. Deutsche Bank AG bought a new stake in Montauk Renewables in the 2nd quarter valued at about $76,000. J. Derek Lewis & Associates Inc. acquired a new position in Montauk Renewables during the 1st quarter valued at about $98,000. Finally, Rathbones Group PLC boosted its stake in Montauk Renewables by 10.9% during the 1st quarter. Rathbones Group PLC now owns 102,000 shares of the company’s stock valued at $117,000 after purchasing an additional 10,000 shares during the period. 16.35% of the stock is currently owned by institutional investors.

Montauk Renewables Stock Down 1.9%

NASDAQ:MNTK opened at $2.04 on Friday. The firm has a market capitalization of $290.37 million, a PE ratio of 34.01 and a beta of 0.66. The stock has a 50 day moving average of $2.27 and a 200-day moving average of $1.81. Montauk Renewables has a 52 week low of $1.07 and a 52 week high of $3.28. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.57.

Montauk Renewables Company Profile

Montauk Renewables, Inc is a renewable energy company focused on recovering energy from landfill gas and other biogas sources. The company develops, owns and operates facilities that capture methane produced by landfills and convert it into renewable natural gas (RNG) and renewable electricity.

Montauk’s RNG operations process biogas into pipeline-quality natural gas that can be used as a transportation fuel or delivered through natural gas infrastructure. The company also generates electricity from landfill gas and may benefit from environmental attributes associated with renewable energy, including renewable identification numbers and other credits.

Founded in 1988, Montauk Renewables operates projects primarily in the United States.