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

Montauk Renewables, Inc. (NASDAQ:MNTK) has been given an average recommendation of “Reduce” by the five ratings firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating and four have given a hold rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $1.80.

Several equities research analysts have issued reports on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Montauk Renewables in a research note on Tuesday, April 21st. Zacks Research lowered shares of Montauk Renewables from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. Scotiabank dropped their price objective on shares of Montauk Renewables from $4.00 to $2.00 and set a “sector perform” rating for the company in a research note on Wednesday, April 22nd. Finally, UBS Group cut their price objective 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.

Montauk Renewables Stock Performance

Shares of NASDAQ:MNTK opened at $1.64 on Wednesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.85 and a quick ratio of 0.85. Montauk Renewables has a 1 year low of $1.07 and a 1 year high of $2.57. The firm has a market capitalization of $233.44 million, a PE ratio of 82.04 and a beta of 0.57. The business’s 50 day moving average price is $1.58 and its 200-day moving average price is $1.52.

Institutional Investors Weigh In On Montauk Renewables

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets boosted its stake in Montauk Renewables by 92.3% during the third quarter. BNP Paribas Financial Markets now owns 13,175 shares of the company’s stock worth $26,000 after buying an additional 6,323 shares during the last quarter. Virtu Financial LLC purchased a new stake in Montauk Renewables in the 3rd quarter valued at $28,000. Corient Private Wealth LLC acquired a new stake in shares of Montauk Renewables in the 2nd quarter worth $36,000. Two Sigma Investments LP acquired a new stake in shares of Montauk Renewables in the 3rd quarter worth $34,000. Finally, HRT Financial LP purchased a new position in shares of Montauk Renewables during the 4th quarter worth $44,000. Institutional investors and hedge funds own 16.35% of the company’s stock.

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.