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

Montauk Renewables (NASDAQ:MNTK) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.

MNTK has been the topic of several other reports. Wall Street Zen upgraded shares of Montauk Renewables from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Weiss Ratings reiterated a “sell (d)” rating on shares of Montauk Renewables in a research report on Thursday, January 22nd. Three investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $4.00.

Montauk Renewables Price Performance

Montauk Renewables stock opened at $1.26 on Tuesday. The stock has a market cap of $179.35 million, a price-to-earnings ratio of 63.03 and a beta of 0.05. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.48. The business has a 50-day simple moving average of $1.56 and a 200 day simple moving average of $1.80. Montauk Renewables has a 52 week low of $1.20 and a 52 week high of $2.78.

Montauk Renewables (NASDAQ:MNTK) last released its quarterly earnings results on Wednesday, March 11th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.04). The business had revenue of $43.39 million during the quarter, compared to analysts’ expectations of $44.39 million. Montauk Renewables had a net margin of 0.15% and a return on equity of 0.10%. On average, research analysts forecast that Montauk Renewables will post 0.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Citadel Advisors LLC raised its position in Montauk Renewables by 178.4% during the 3rd quarter. Citadel Advisors LLC now owns 204,707 shares of the company’s stock valued at $411,000 after purchasing an additional 131,164 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Montauk Renewables by 174.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 177,855 shares of the company’s stock worth $357,000 after buying an additional 113,083 shares during the last quarter. Jane Street Group LLC grew its position in shares of Montauk Renewables by 303.4% in the 1st quarter. Jane Street Group LLC now owns 100,834 shares of the company’s stock worth $213,000 after buying an additional 75,836 shares during the last quarter. Deutsche Bank AG increased its stake in shares of Montauk Renewables by 20,885.3% during the fourth quarter. Deutsche Bank AG now owns 47,007 shares of the company’s stock valued at $79,000 after buying an additional 46,783 shares during the period. Finally, Strs Ohio purchased a new position in shares of Montauk Renewables during the first quarter valued at approximately $84,000. 16.35% of the stock is owned by hedge funds and other institutional investors.

About Montauk Renewables

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.