UBS Group Has Lowered Expectations for Montauk Renewables (NASDAQ:MNTK) Stock Price

Montauk Renewables (NASDAQ:MNTK) had its price target decreased by UBS Group from $6.25 to $3.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s target price suggests a potential upside of 23.66% from the stock’s previous close.

Separately, B. Riley cut their price objective on shares of Montauk Renewables from $4.00 to $3.00 and set a “neutral” rating on the stock in a report on Friday.

Montauk Renewables Stock Down 2.6 %

NASDAQ MNTK traded down $0.06 during trading on Friday, reaching $2.43. 64,288 shares of the company’s stock traded hands, compared to its average volume of 156,986. Montauk Renewables has a 12-month low of $2.33 and a 12-month high of $6.22. 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 firm has a market cap of $347.81 million, a price-to-earnings ratio of 15.22 and a beta of -0.20. The company’s 50 day simple moving average is $4.04 and its two-hundred day simple moving average is $4.48.

Institutional Trading of Montauk Renewables

A number of institutional investors have recently made changes to their positions in the business. KLP Kapitalforvaltning AS acquired a new position in Montauk Renewables during the 4th quarter valued at approximately $25,000. Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of Montauk Renewables by 105.0% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,898 shares of the company’s stock worth $26,000 after purchasing an additional 2,509 shares during the period. N.E.W. Advisory Services LLC purchased a new stake in Montauk Renewables in the fourth quarter valued at approximately $40,000. ABC Arbitrage SA purchased a new position in Montauk Renewables during the 4th quarter worth approximately $55,000. Finally, ProShare Advisors LLC lifted its stake in Montauk Renewables by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 18,588 shares of the company’s stock valued at $74,000 after acquiring an additional 6,117 shares during the period. Institutional investors and hedge funds 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.