Montauk Renewables, Inc. (NASDAQ:MNTK) Receives $1.80 Consensus Target Price from Brokerages

Shares of Montauk Renewables, Inc. (NASDAQ:MNTK) have received an average recommendation of “Hold” from the five analysts that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $1.80.

MNTK has been the subject of several recent research reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Montauk Renewables in a report on Friday, July 17th. Zacks Research raised Montauk Renewables from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, September 1st.

Montauk Renewables Trading Down 12.3%

NASDAQ:MNTK opened at $2.28 on Monday. The firm has a market capitalization of $324.54 million, a P/E ratio of 38.01 and a beta of 0.54. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.62 and a quick ratio of 0.62. Montauk Renewables has a one year low of $1.07 and a one year high of $2.73. The company’s 50-day simple moving average is $1.96 and its 200 day simple moving average is $1.64.

Institutional Investors Weigh In On Montauk Renewables

A number of institutional investors have recently modified their holdings of the stock. BlackRock Inc. bought a new position in Montauk Renewables in the 2nd quarter worth about $7,347,000. Bank of New York Mellon Corp bought a new stake in Montauk Renewables during the 2nd quarter valued at about $306,000. Bank of America Corp DE bought a new stake in Montauk Renewables during the 2nd quarter valued at about $70,000. Ieq Capital LLC bought a new stake in Montauk Renewables during the 2nd quarter valued at about $52,000. Finally, Deutsche Bank AG purchased a new position in Montauk Renewables in the second quarter worth about $76,000. 16.35% of the stock is owned by hedge funds and other institutional investors.

Montauk Renewables Company Profile

Montauk Renewables, Inc is a renewable energy company focused on capturing methane from landfills and other organic waste sources and converting it into useful energy. Its primary products include renewable natural gas (RNG), pipeline-quality gas produced by upgrading biogas, and renewable electricity generated at certain project sites.

The company develops, owns, and operates renewable energy projects in the United States. In addition to energy sales, Montauk Renewables generates environmental attributes associated with its projects, including renewable identification numbers, low-carbon fuel credits, and renewable energy credits.