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

Montauk Renewables, Inc. (NASDAQ:MNTK) has earned an average recommendation of “Reduce” from the five brokerages that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating and four have issued a hold rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $1.80.

Several equities research analysts have recently weighed in on MNTK shares. Scotiabank decreased their price objective on Montauk Renewables from $4.00 to $2.00 and set a “sector perform” rating for the company in a report on Wednesday, April 22nd. UBS Group reduced their price target 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. Zacks Research cut shares of Montauk Renewables from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 14th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Montauk Renewables in a research report on Friday, July 17th.

Montauk Renewables Trading Down 6.6%

MNTK opened at $1.71 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.57. Montauk Renewables has a 52 week low of $1.07 and a 52 week high of $2.57. The business’s 50 day moving average is $1.66 and its two-hundred day moving average is $1.52. The firm has a market cap of $243.40 million, a price-to-earnings ratio of 85.54 and a beta of 0.57.

Institutional Investors Weigh In On Montauk Renewables

Several hedge funds have recently made changes to their positions in the business. Rathbones Group PLC increased its position in Montauk Renewables by 10.9% in the 1st quarter. Rathbones Group PLC now owns 102,000 shares of the company’s stock valued at $117,000 after acquiring an additional 10,000 shares during the period. J. Derek Lewis & Associates Inc. purchased a new stake in Montauk Renewables during the 1st quarter valued at approximately $98,000. Renaissance Technologies LLC lifted its position in Montauk Renewables by 3.5% during the 1st quarter. Renaissance Technologies LLC now owns 354,600 shares of the company’s stock worth $408,000 after acquiring an additional 11,900 shares during the period. Invesco Ltd. lifted its position in Montauk Renewables by 35.0% during the 4th quarter. Invesco Ltd. now owns 31,055 shares of the company’s stock worth $52,000 after acquiring an additional 8,054 shares during the period. Finally, Wells Fargo & Company MN grew its stake in shares of Montauk Renewables by 51.9% in the 4th quarter. Wells Fargo & Company MN now owns 75,049 shares of the company’s stock valued at $125,000 after purchasing an additional 25,645 shares during the last quarter. Institutional investors and hedge funds own 16.35% of the company’s stock.

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.