Montauk Renewables (NASDAQ:MNTK) Price Target Lowered to $6.00 at B. Riley

Montauk Renewables (NASDAQ:MNTK) had its target price cut by B. Riley from $7.00 to $6.00 in a report released on Tuesday morning, Benzinga reports. They currently have a neutral rating on the stock.

Other equities research analysts have also issued research reports about the stock. Scotiabank decreased their price objective on shares of Montauk Renewables from $9.00 to $8.00 and set a sector outperform rating for the company in a research note on Thursday, April 11th. TheStreet downgraded Montauk Renewables from a c- rating to a d+ rating in a research report on Wednesday, March 6th. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $7.75.

Montauk Renewables Stock Up 4.6 %

MNTK stock opened at $4.11 on Tuesday. The stock’s 50 day moving average is $4.30 and its 200-day moving average is $6.94. Montauk Renewables has a twelve month low of $3.38 and a twelve month high of $10.95. The firm has a market capitalization of $590.28 million, a PE ratio of 37.37 and a beta of -0.40. The company has a quick ratio of 3.07, a current ratio of 3.07 and a debt-to-equity ratio of 0.22.

Montauk Renewables (NASDAQ:MNTK) last posted its quarterly earnings data on Thursday, March 14th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). Montauk Renewables had a return on equity of 6.32% and a net margin of 8.55%. The firm had revenue of $46.81 million for the quarter, compared to analysts’ expectations of $52.86 million. Sell-side analysts expect that Montauk Renewables will post 0.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new position in Montauk Renewables in the third quarter valued at approximately $219,000. Bank of New York Mellon Corp raised its stake in shares of Montauk Renewables by 0.6% in the third quarter. Bank of New York Mellon Corp now owns 263,144 shares of the company’s stock valued at $2,397,000 after buying an additional 1,475 shares during the period. Strs Ohio purchased a new position in shares of Montauk Renewables during the 3rd quarter valued at $144,000. CHICAGO TRUST Co NA increased its holdings in Montauk Renewables by 12.5% in the 3rd quarter. CHICAGO TRUST Co NA now owns 20,350 shares of the company’s stock worth $185,000 after acquiring an additional 2,255 shares during the last quarter. Finally, Orion Portfolio Solutions LLC purchased a new stake in Montauk Renewables in the 3rd quarter worth about $99,000. 16.35% of the stock is currently owned by hedge funds and other institutional investors.

About Montauk Renewables

Montauk Renewables, Inc, a renewable energy company, engages in recovery and processing of biogas from landfills and other non-fossil fuel sources. It operates in two segments, Renewable Natural Gas and Renewable Electricity Generation. The company develops, owns, and operates renewable natural gas (RNG) projects that captures methane and prevents it from being released into the atmosphere by converting it into either RNG or electrical power for the electrical grid.