Brokerages Set Montauk Renewables, Inc. (NASDAQ:MNTK) PT at $1.80

Montauk Renewables, Inc. (NASDAQ:MNTK) has earned an average recommendation of “Reduce” from the five ratings firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $1.80.

Several analysts have recently weighed in on the stock. Zacks Research lowered shares of Montauk Renewables from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 14th. UBS Group lowered their price objective on shares of Montauk Renewables from $2.85 to $1.60 and set a “neutral” rating for the company in a research note on Friday, April 24th. Scotiabank reduced their price target on shares of Montauk Renewables from $4.00 to $2.00 and set a “sector perform” rating for the company in a research report on Wednesday, April 22nd. Wall Street Zen raised shares of Montauk Renewables from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Montauk Renewables in a research report on Tuesday, April 21st.

Montauk Renewables Stock Performance

NASDAQ:MNTK opened at $1.59 on Friday. The company has a fifty day moving average of $1.51 and a 200-day moving average of $1.54. The firm has a market capitalization of $226.32 million, a P/E ratio of 79.54 and a beta of 0.53. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.57. Montauk Renewables has a twelve month low of $1.07 and a twelve month high of $2.78.

Institutional Trading of Montauk Renewables

Hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC purchased a new position in Montauk Renewables during the 1st quarter worth $62,000. Jane Street Group LLC boosted its holdings in Montauk Renewables by 303.4% during the 1st quarter. Jane Street Group LLC now owns 100,834 shares of the company’s stock worth $213,000 after acquiring an additional 75,836 shares during the last quarter. Strs Ohio purchased a new position in Montauk Renewables during the 1st quarter worth $84,000. JPMorgan Chase & Co. boosted its holdings in Montauk Renewables by 25.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 64,772 shares of the company’s stock worth $144,000 after acquiring an additional 12,974 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in Montauk Renewables by 12.6% during the 2nd quarter. Rhumbline Advisers now owns 105,881 shares of the company’s stock worth $235,000 after acquiring an additional 11,820 shares during the last quarter. Institutional investors and hedge funds own 16.35% of the company’s stock.

About Montauk Renewables

Montauk Renewables Holdings, Inc is a renewable energy company headquartered in Irving, Texas, specializing in the capture and conversion of landfill gas into clean energy products. The company’s core operations focus on the design, development and operation of landfill gas collection systems that extract methane and other biogases generated by municipal solid waste. Montauk processes this gas into renewable natural gas (RNG) suitable for pipeline injection and also generates electricity for sale to utilities and commercial consumers.

Through its subsidiaries, Montauk provides a suite of environmental and waste‐management services across the United States and Canada.