Montauk Renewables (NASDAQ:MNTK) Downgraded by Zacks Research to Hold

Zacks Research downgraded shares of Montauk Renewables (NASDAQ:MNTK) from a strong-buy rating to a hold rating in a research note issued to investors on Thursday morning,Zacks.com reports.

Other equities research analysts have also recently issued reports about the company. Weiss Ratings reissued a “sell (d)” rating on shares of Montauk Renewables in a research report on Tuesday, April 21st. UBS Group reduced their price objective on Montauk Renewables from $2.85 to $1.60 and set a “neutral” rating for the company in a research report on Friday, April 24th. Wall Street Zen raised Montauk Renewables from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Finally, Scotiabank reduced their price objective on 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. Four equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $1.80.

Montauk Renewables Stock Down 5.6%

Shares of Montauk Renewables stock opened at $1.53 on Thursday. Montauk Renewables has a 12-month low of $1.07 and a 12-month high of $2.78. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $217.78 million, a P/E ratio of 76.54 and a beta of 0.47. The stock has a 50 day moving average price of $1.33 and a two-hundred day moving average price of $1.58.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MNTK. Citadel Advisors LLC raised its stake in shares of Montauk Renewables by 178.4% in the third quarter. Citadel Advisors LLC now owns 204,707 shares of the company’s stock valued at $411,000 after purchasing an additional 131,164 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Montauk Renewables by 174.6% during the third quarter. JPMorgan Chase & Co. now owns 177,855 shares of the company’s stock worth $357,000 after acquiring an additional 113,083 shares in the last quarter. Jane Street Group LLC raised its stake in Montauk Renewables by 303.4% during the first quarter. Jane Street Group LLC now owns 100,834 shares of the company’s stock worth $213,000 after acquiring an additional 75,836 shares in the last quarter. Deutsche Bank AG raised its stake in Montauk Renewables by 20,885.3% during the fourth quarter. Deutsche Bank AG now owns 47,007 shares of the company’s stock worth $79,000 after acquiring an additional 46,783 shares in the last quarter. Finally, Strs Ohio acquired a new position in Montauk Renewables during the first quarter worth $84,000. 16.35% of the stock is currently owned by institutional investors and hedge funds.

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.