Montauk Renewables (NASDAQ:MNTK) Shares Gap Down to $4.10

Shares of Montauk Renewables, Inc. (NASDAQ:MNTK) gapped down prior to trading on Tuesday . The stock had previously closed at $4.10, but opened at $3.90. Montauk Renewables shares last traded at $3.90, with a volume of 41,250 shares traded.

Analysts Set New Price Targets

MNTK has been the topic of several research reports. B. Riley lowered their price objective on shares of Montauk Renewables from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Thursday, March 7th. Scotiabank lowered their price objective on shares of Montauk Renewables from $9.00 to $8.00 and set a “sector outperform” rating on the stock in a research report on Thursday, April 11th. Finally, TheStreet lowered shares of 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 given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $8.00.

Montauk Renewables Price Performance

The stock has a market cap of $504.38 million, a PE ratio of 31.91 and a beta of -0.49. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.07 and a quick ratio of 3.07. The firm’s 50 day moving average price is $4.99 and its two-hundred day moving average price is $7.49.

Montauk Renewables (NASDAQ:MNTK) last posted its earnings results on Thursday, March 14th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.02). The business had revenue of $46.81 million during the quarter, compared to analysts’ expectations of $52.86 million. Montauk Renewables had a return on equity of 6.32% and a net margin of 8.55%. On average, research analysts expect that Montauk Renewables, Inc. will post 0.29 earnings per share for the current year.

Hedge Funds Weigh In On Montauk Renewables

Several large investors have recently modified their holdings of the business. State Street Corp grew its stake in Montauk Renewables by 185.2% during the second quarter. State Street Corp now owns 1,606,609 shares of the company’s stock valued at $16,146,000 after acquiring an additional 1,043,323 shares in the last quarter. Northern Trust Corp grew its stake in Montauk Renewables by 437.1% during the second quarter. Northern Trust Corp now owns 583,443 shares of the company’s stock valued at $5,864,000 after acquiring an additional 474,806 shares in the last quarter. Millennium Management LLC grew its stake in Montauk Renewables by 117.0% during the fourth quarter. Millennium Management LLC now owns 797,303 shares of the company’s stock valued at $8,794,000 after acquiring an additional 429,809 shares in the last quarter. Susquehanna International Group LLP grew its stake in Montauk Renewables by 497.0% during the first quarter. Susquehanna International Group LLP now owns 375,075 shares of the company’s stock valued at $2,952,000 after acquiring an additional 312,249 shares in the last quarter. Finally, Amundi purchased a new position in Montauk Renewables during the fourth quarter valued at approximately $2,965,000. Hedge funds and other institutional investors own 16.35% of the company’s stock.

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.