Montauk Renewables (NASDAQ:MNTK) Rating Lowered to Hold at Zacks Investment Research

Montauk Renewables (NASDAQ:MNTK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday, Zacks.com reports.

According to Zacks, “Montauk Renewables Inc. is a fully-integrated renewable energy company. It specializes in the management, recovery and conversion of biogas into renewable energy. Montauk Renewables Inc. is based in Pittsburgh, Pennsylvania. “

Shares of Montauk Renewables stock opened at $10.23 on Wednesday. The company’s fifty day simple moving average is $11.13 and its 200-day simple moving average is $9.40. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.36 and a current ratio of 1.36. Montauk Renewables has a 1 year low of $6.15 and a 1 year high of $14.93.

Montauk Renewables (NASDAQ:MNTK) last issued its earnings results on Monday, November 15th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.01 by $0.05. Montauk Renewables had a negative return on equity of 4.58% and a negative net margin of 5.88%. Equities analysts forecast that Montauk Renewables will post 0.05 earnings per share for the current year.

Hedge funds have recently modified their holdings of the stock. Grantham Mayo Van Otterloo & Co. LLC lifted its holdings in shares of Montauk Renewables by 1.0% during the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,616,477 shares of the company’s stock valued at $18,153,000 after acquiring an additional 15,600 shares during the period. Royal Bank of Canada bought a new position in shares of Montauk Renewables during the first quarter valued at $8,120,000. Geode Capital Management LLC lifted its holdings in shares of Montauk Renewables by 494.8% during the third quarter. Geode Capital Management LLC now owns 491,582 shares of the company’s stock valued at $5,520,000 after acquiring an additional 408,936 shares during the period. BlackRock Inc. bought a new position in shares of Montauk Renewables during the third quarter valued at $4,992,000. Finally, Fort Washington Investment Advisors Inc. OH lifted its holdings in shares of Montauk Renewables by 11.2% during the third quarter. Fort Washington Investment Advisors Inc. OH now owns 264,339 shares of the company’s stock valued at $2,969,000 after acquiring an additional 26,705 shares during the period. 1.95% of the stock is 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. The company develops, owns, and operates renewable natural gas (RNG) projects that capture methane and prevents it from being released into the atmosphere by converting it into either RNG or electrical power for the electrical grid.

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