Montauk Renewables (NASDAQ:MNTK) Stock Price Breaks Below 200 Day Moving Average – Should You Sell?

Montauk Renewables, Inc. (NASDAQ:MNTK)’s stock price passed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $1.77 and traded as low as $1.12. Montauk Renewables shares last traded at $1.19, with a volume of 2,638,756 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Zacks Research cut shares of Montauk Renewables from a “strong-buy” rating to a “hold” rating in a report on Monday, November 2nd. Weiss Ratings raised shares of Montauk Renewables from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, September 24th. Three investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Montauk Renewables has an average rating of “Reduce” and an average target price of $1.80.

Montauk Renewables Stock Down 57.2%

The business has a fifty day moving average price of $2.40 and a two-hundred day moving average price of $1.77. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.62 and a quick ratio of 0.62. The firm has a market capitalization of $169.38 million, a price-to-earnings ratio of 19.84 and a beta of 0.70.

Institutional Investors Weigh In On Montauk Renewables

Large investors have recently bought and sold shares of the company. BlackRock Inc. purchased a new position in Montauk Renewables during the 2nd quarter worth approximately $7,347,000. Russell Investments Group Ltd. lifted its stake in Montauk Renewables by 661.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 430,267 shares of the company’s stock valued at $1,176,000 after acquiring an additional 373,769 shares during the period. Renaissance Technologies LLC lifted its stake in Montauk Renewables by 3.5% during the 1st quarter. Renaissance Technologies LLC now owns 354,600 shares of the company’s stock valued at $408,000 after acquiring an additional 11,900 shares during the period. GSA Capital Partners LLP purchased a new stake in shares of Montauk Renewables in the 2nd quarter valued at $314,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Montauk Renewables in the 2nd quarter valued at $306,000. Hedge funds and other institutional investors own 16.35% of the company’s stock.

Montauk Renewables Company Profile

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.