Montauk Renewables (NASDAQ:MNTK) Raised to Strong-Buy at Zacks Research

Montauk Renewables (NASDAQ:MNTK) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Tuesday, Zacks reports.

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Montauk Renewables in a research note on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Montauk Renewables currently has an average rating of “Hold” and an average price target of $1.80.

Montauk Renewables Stock Performance

Shares of NASDAQ MNTK opened at $2.13 on Tuesday. Montauk Renewables has a 12-month low of $1.07 and a 12-month high of $2.57. The firm has a market capitalization of $303.18 million, a price-to-earnings ratio of 35.51 and a beta of 0.54. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.57. The firm has a 50 day moving average of $1.74 and a 200 day moving average of $1.56.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in Montauk Renewables during the 2nd quarter worth approximately $7,347,000. Geode Capital Management LLC lifted its holdings in Montauk Renewables by 2.2% during 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 in the last quarter. Renaissance Technologies LLC boosted its position in shares of Montauk Renewables by 3.5% in the first 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 period. Citadel Advisors LLC boosted its position 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 worth $411,000 after purchasing an additional 131,164 shares during the period. Finally, GSA Capital Partners LLP purchased a new stake in shares of Montauk Renewables in the second quarter worth $314,000. 16.35% of the stock is currently owned by institutional investors.

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.