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

Montauk Renewables, Inc. (NASDAQ:MNTK) has been assigned an average recommendation of “Reduce” from the five analysts that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $1.80.

A number of equities analysts have commented on the stock. Zacks Research cut shares of Montauk Renewables from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. Weiss Ratings restated a “sell (d)” rating on shares of Montauk Renewables in a research note on Tuesday, April 21st. UBS Group reduced their target price on shares of Montauk Renewables from $2.85 to $1.60 and set a “neutral” rating for the company in a report on Friday, April 24th. Finally, Scotiabank decreased their price target on shares of Montauk Renewables from $4.00 to $2.00 and set a “sector perform” rating on the stock in a research note on Wednesday, April 22nd.

Institutional Investors Weigh In On Montauk Renewables

Institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC grew its position in shares of Montauk Renewables by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 1,724,933 shares of the company’s stock valued at $2,881,000 after purchasing an additional 37,315 shares during the last quarter. Renaissance Technologies LLC lifted its holdings 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 purchasing an additional 11,900 shares during the last quarter. Citadel Advisors LLC lifted its holdings in Montauk Renewables by 178.4% during the 3rd quarter. Citadel Advisors LLC now owns 204,707 shares of the company’s stock worth $411,000 after purchasing an additional 131,164 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Montauk Renewables by 18.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 196,032 shares of the company’s stock worth $327,000 after purchasing an additional 30,273 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted 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 purchasing an additional 113,083 shares during the period. Institutional investors own 16.35% of the company’s stock.

Montauk Renewables Price Performance

MNTK opened at $1.65 on Wednesday. Montauk Renewables has a 1-year low of $1.07 and a 1-year high of $2.57. The stock’s fifty day simple moving average is $1.60 and its 200 day simple moving average is $1.51. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.57. The stock has a market cap of $234.86 million, a PE ratio of 82.54 and a beta of 0.57.

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.