Shares of Montauk Renewables, Inc. (NASDAQ:MNTK – Get Free Report) rose 4.8% on Tuesday . The stock traded as high as $3.98 and last traded at $3.95. Approximately 54,862 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 359,959 shares. The stock had previously closed at $3.77.
Wall Street Analyst Weigh In
Several research firms recently commented on MNTK. B. Riley dropped their price objective on Montauk Renewables from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Thursday, March 7th. TheStreet lowered shares of Montauk Renewables from a “c-” rating to a “d+” rating in a research report on Wednesday, March 6th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $8.25.
View Our Latest Stock Report on MNTK
Montauk Renewables Stock Performance
Montauk Renewables (NASDAQ:MNTK – Get Free Report) last posted its quarterly earnings data on Thursday, March 14th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). Montauk Renewables had a net margin of 8.55% and a return on equity of 6.32%. The business had revenue of $46.81 million for the quarter, compared to analysts’ expectations of $52.86 million. On average, equities research analysts predict that Montauk Renewables, Inc. will post 0.29 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Montauk Renewables
Several large investors have recently added to or reduced their stakes in MNTK. C M Bidwell & Associates Ltd. bought a new position in shares of Montauk Renewables during the 3rd quarter worth $35,000. US Bancorp DE purchased a new position in Montauk Renewables during the fourth quarter valued at approximately $38,000. Tower Research Capital LLC TRC boosted its position in Montauk Renewables by 152.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,466 shares of the company’s stock valued at $33,000 after acquiring an additional 2,700 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Montauk Renewables during the 1st quarter worth $52,000. Finally, UBS Group AG boosted its position in Montauk Renewables by 72.2% during the fourth quarter. UBS Group AG now owns 6,503 shares of the company’s stock valued at $72,000 after purchasing an additional 2,727 shares in the last quarter. 16.35% of the stock is owned by hedge funds and other institutional investors.
About Montauk Renewables
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 capture methane and prevents it from being released into the atmosphere by converting it into either RNG or electrical power for the electrical grid.
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