Montauk Renewables (NASDAQ:MNTK) Initiates Stock Buyback Plan

Montauk Renewables (NASDAQ:MNTK) declared that its board has authorized a share buyback plan on Tuesday, April 15th, RTT News reports. The company plans to repurchase $5.00 million in shares. This repurchase authorization authorizes the company to buy up to 1.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Scotiabank reduced their target price on Montauk Renewables from $6.00 to $4.00 and set a “sector perform” rating for the company in a report on Friday. B. Riley lowered their target price on shares of Montauk Renewables from $4.00 to $3.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th. Finally, UBS Group dropped their target price on shares of Montauk Renewables from $6.25 to $3.00 and set a “neutral” rating on the stock in a report on Friday, March 14th.

Montauk Renewables Trading Down 3.9 %

Shares of NASDAQ MNTK traded down $0.08 during midday trading on Tuesday, hitting $1.99. The stock had a trading volume of 195,674 shares, compared to its average volume of 219,773. The firm has a market cap of $285.24 million, a P/E ratio of 12.44 and a beta of 0.05. Montauk Renewables has a fifty-two week low of $1.75 and a fifty-two week 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 company’s 50-day simple moving average is $2.94 and its 200 day simple moving average is $4.05.

Montauk Renewables (NASDAQ:MNTK) last released its quarterly earnings data on Thursday, March 13th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.11). Montauk Renewables had a net margin of 11.80% and a return on equity of 8.88%. The business had revenue of $27.74 million for the quarter, compared to the consensus estimate of $59.92 million. Research analysts anticipate that Montauk Renewables will post 0.19 EPS for the current year.

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.