Montauk Renewables (NASDAQ:MNTK) Price Target Cut to $4.00 by Analysts at Scotiabank

Montauk Renewables (NASDAQ:MNTK) had its target price reduced by research analysts at Scotiabank from $6.00 to $4.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “sector perform” rating on the stock. Scotiabank’s target price indicates a potential upside of 92.31% from the company’s current price.

Other equities research analysts have also issued reports about the stock. B. Riley lowered their price target on shares of Montauk Renewables from $4.00 to $3.00 and set a “neutral” rating for the company in a report on Friday, March 14th. UBS Group dropped their target price on Montauk Renewables from $6.25 to $3.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th.

Montauk Renewables Trading Down 1.9 %

Shares of MNTK traded down $0.04 during mid-day trading on Friday, reaching $2.08. The company had a trading volume of 152,225 shares, compared to its average volume of 208,797. Montauk Renewables has a fifty-two week low of $1.75 and a fifty-two week high of $6.22. The firm has a fifty day simple moving average of $3.08 and a 200-day simple moving average of $4.11. The stock has a market cap of $296.26 million, a price-to-earnings ratio of 13.00 and a beta of 0.05. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.17.

Montauk Renewables (NASDAQ:MNTK) last issued its earnings results on Thursday, March 13th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.11). The firm had revenue of $27.74 million during the quarter, compared to analyst estimates of $59.92 million. Montauk Renewables had a net margin of 11.80% and a return on equity of 8.88%. On average, sell-side analysts anticipate that Montauk Renewables will post 0.19 EPS for the current fiscal year.

Institutional Trading of Montauk Renewables

Several institutional investors have recently added to or reduced their stakes in MNTK. KLP Kapitalforvaltning AS bought a new stake in shares of Montauk Renewables in the 4th quarter worth about $25,000. N.E.W. Advisory Services LLC acquired a new position in Montauk Renewables in the fourth quarter worth about $40,000. ABC Arbitrage SA bought a new stake in Montauk Renewables in the fourth quarter valued at about $55,000. ProShare Advisors LLC raised its stake in 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 in the last quarter. Finally, BNP Paribas Financial Markets bought a new position in Montauk Renewables during the 4th quarter worth approximately $88,000. 16.35% of the stock is owned by institutional investors and hedge funds.

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.