Simplicity Wealth LLC Buys New Stake in Montauk Renewables, Inc. (NASDAQ:MNTK)

Simplicity Wealth LLC bought a new stake in Montauk Renewables, Inc. (NASDAQ:MNTK) in the first quarter, HoldingsChannel.com reports. The fund bought 26,895 shares of the company’s stock, valued at approximately $56,000.

A number of other institutional investors and hedge funds have also made changes to their positions in MNTK. Rhumbline Advisers boosted its stake in Montauk Renewables by 3.8% during the fourth quarter. Rhumbline Advisers now owns 90,439 shares of the company’s stock worth $360,000 after buying an additional 3,285 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Montauk Renewables by 7.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 48,712 shares of the company’s stock worth $194,000 after purchasing an additional 3,434 shares during the period. ProShare Advisors LLC boosted its position in shares of Montauk Renewables by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 18,588 shares of the company’s stock valued at $74,000 after buying an additional 6,117 shares during the period. KLP Kapitalforvaltning AS purchased a new position in shares of Montauk Renewables during the fourth quarter valued at approximately $25,000. Finally, Geode Capital Management LLC boosted its position in shares of Montauk Renewables by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 1,645,924 shares of the company’s stock valued at $6,552,000 after buying an additional 9,556 shares during the period. 16.35% of the stock is owned by hedge funds and other institutional investors.

Montauk Renewables Price Performance

Montauk Renewables stock opened at $2.23 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 2.04. The stock has a market cap of $317.63 million, a price-to-earnings ratio of 13.94 and a beta of -0.01. The firm has a 50-day moving average of $2.10 and a two-hundred day moving average of $3.13. Montauk Renewables, Inc. has a 1 year low of $1.68 and a 1 year high of $6.22.

Montauk Renewables (NASDAQ:MNTK) last posted its earnings results on Thursday, May 8th. The company reported $0.00 earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.01). The company had revenue of $42.60 million for the quarter, compared to analysts’ expectations of $42.40 million. Montauk Renewables had a return on equity of 8.88% and a net margin of 11.80%. On average, research analysts forecast that Montauk Renewables, Inc. will post 0.19 earnings per share for the current year.

Montauk Renewables announced that its Board of Directors has approved a stock repurchase plan on Tuesday, April 15th that allows the company to buyback $5.00 million in shares. This buyback authorization allows the company to buy up to 1.8% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

A number of research firms recently issued reports on MNTK. UBS Group dropped their price objective on Montauk Renewables from $6.25 to $3.00 and set a “neutral” rating for the company in a report on Friday, March 14th. B. Riley dropped their price objective on Montauk Renewables from $4.00 to $3.00 and set a “neutral” rating for the company in a report on Friday, March 14th. Finally, Scotiabank lowered their target price on shares of Montauk Renewables from $6.00 to $4.00 and set a “sector perform” rating for the company in a research note on Friday, April 11th.

Montauk Renewables Company Profile

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.