Montauk Renewables (NASDAQ:MNTK) Upgraded by Zacks Research to “Strong-Buy” Rating

Zacks Research upgraded shares of Montauk Renewables (NASDAQ:MNTK) from a hold rating to a strong-buy rating in a research note released on Tuesday,Zacks.com reports.

Other research analysts have also recently issued research reports about the stock. Tudor Pickering raised shares of Montauk Renewables from a “strong sell” rating to a “hold” rating in a report on Friday, November 7th. Weiss Ratings reiterated a “sell (d)” rating on shares of Montauk Renewables in a report on Thursday, January 22nd. Finally, Wall Street Zen raised Montauk Renewables from a “sell” rating to a “hold” rating in a report on Saturday, January 17th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Montauk Renewables presently has an average rating of “Hold” and a consensus price target of $3.33.

Montauk Renewables Stock Performance

Shares of MNTK stock traded down $0.16 during trading on Tuesday, reaching $1.49. 591,495 shares of the company’s stock traded hands, compared to its average volume of 601,164. The firm’s 50-day moving average is $1.65 and its 200 day moving average is $1.94. The company has a market capitalization of $211.97 million, a P/E ratio of -24.58 and a beta of 0.07. Montauk Renewables has a 1 year low of $1.37 and a 1 year high of $4.71. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.21.

Montauk Renewables (NASDAQ:MNTK) last issued its earnings results on Wednesday, November 5th. The company reported $0.04 earnings per share (EPS) for the quarter. Montauk Renewables had a negative net margin of 5.72% and a negative return on equity of 3.57%. The business had revenue of $45.26 million for the quarter, compared to analysts’ expectations of $44.28 million. Equities research analysts expect that Montauk Renewables will post 0.19 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of MNTK. Nisa Investment Advisors LLC grew its position in shares of Montauk Renewables by 799.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 11,696 shares of the company’s stock worth $26,000 after buying an additional 10,396 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in Montauk Renewables by 92.3% in the third quarter. BNP Paribas Financial Markets now owns 13,175 shares of the company’s stock valued at $26,000 after acquiring an additional 6,323 shares in the last quarter. Virtu Financial LLC purchased a new position in Montauk Renewables during the 3rd quarter valued at $28,000. Corient Private Wealth LLC bought a new position in Montauk Renewables in the 2nd quarter worth $36,000. Finally, Two Sigma Investments LP purchased a new stake in shares of Montauk Renewables in the 3rd quarter worth about $34,000. Hedge funds and other institutional investors own 16.35% of the company’s stock.

Montauk Renewables Company Profile

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.