Montauk Renewables (NASDAQ:MNTK) Stock Rating Lowered by Zacks Research

Montauk Renewables (NASDAQ:MNTK) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday, Zacks reports.

Separately, Weiss Ratings upgraded Montauk Renewables from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, September 24th. Four investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Montauk Renewables presently has an average rating of “Reduce” and a consensus target price of $1.80.

Montauk Renewables Trading Up 2.9%

Shares of Montauk Renewables stock opened at $2.48 on Monday. Montauk Renewables has a fifty-two week low of $1.07 and a fifty-two week high of $3.28. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.57. The firm has a market cap of $353.00 million, a price-to-earnings ratio of 41.34 and a beta of 0.70. The business has a fifty day simple moving average of $2.34 and a 200-day simple moving average of $1.75.

Institutional Trading of Montauk Renewables

Several large investors have recently added to or reduced their stakes in the company. Bank of America Corp DE purchased a new stake in shares of Montauk Renewables in the second quarter valued at $70,000. Ieq Capital LLC purchased a new position in shares of Montauk Renewables during the second quarter valued at $52,000. BlackRock Inc. acquired a new position in Montauk Renewables during the second quarter valued at $7,347,000. Deutsche Bank AG acquired a new position in Montauk Renewables during the second quarter valued at $76,000. Finally, Bank of New York Mellon Corp acquired a new position in Montauk Renewables during the second quarter valued at $306,000. 16.35% of the stock is owned by institutional investors and hedge funds.

About Montauk Renewables

Montauk Renewables, Inc is a renewable energy company that develops, owns and operates projects that capture methane from landfills and other organic waste sources. The company converts this biogas into renewable natural gas (RNG), which can be used as a lower-carbon transportation fuel or delivered into natural gas pipelines.

In addition to RNG production, Montauk Renewables generates renewable electricity from landfill gas at certain facilities. Its activities may also generate environmental attributes, including renewable identification numbers and other credits associated with the use of renewable fuels.