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 research report issued to clients and investors on Thursday,Zacks.com reports.

A number of other research analysts have also commented on MNTK. Weiss Ratings restated a “sell (d)” rating on shares of Montauk Renewables in a research report on Tuesday, April 21st. Scotiabank reduced their price target on shares of Montauk Renewables from $4.00 to $2.00 and set a “sector perform” rating for the company in a research report on Wednesday, April 22nd. Wall Street Zen upgraded shares of Montauk Renewables from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Finally, UBS Group reduced their target price on Montauk Renewables from $2.85 to $1.60 and set a “neutral” rating on the stock in a research note on Friday, April 24th. Four equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $1.80.

Montauk Renewables Stock Down 5.6%

MNTK opened at $1.53 on Thursday. The company has a fifty day moving average price of $1.33 and a 200-day moving average price of $1.58. The firm has a market capitalization of $217.78 million, a P/E ratio of 76.54 and a beta of 0.47. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.85 and a quick ratio of 0.85. Montauk Renewables has a one year low of $1.07 and a one year high of $2.78.

Montauk Renewables (NASDAQ:MNTK) last released its quarterly earnings results on Wednesday, March 11th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.04). The firm had revenue of $43.39 million for the quarter, compared to analysts’ expectations of $44.39 million. Montauk Renewables had a net margin of 0.40% and a return on equity of 0.28%. Equities research analysts expect that Montauk Renewables will post 0.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Montauk Renewables

Hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers lifted its stake in Montauk Renewables by 12.6% during the second quarter. Rhumbline Advisers now owns 105,881 shares of the company’s stock worth $235,000 after purchasing an additional 11,820 shares during the last quarter. Marshall Wace LLP boosted its stake in shares of Montauk Renewables by 158.8% in the 2nd quarter. Marshall Wace LLP now owns 56,901 shares of the company’s stock valued at $126,000 after purchasing an additional 34,914 shares in the last quarter. Intech Investment Management LLC raised its position in Montauk Renewables by 67.6% in the 3rd quarter. Intech Investment Management LLC now owns 56,734 shares of the company’s stock worth $114,000 after purchasing an additional 22,876 shares during the period. Deutsche Bank AG raised its position in Montauk Renewables by 20,885.3% in the 4th quarter. Deutsche Bank AG now owns 47,007 shares of the company’s stock worth $79,000 after purchasing an additional 46,783 shares during the period. Finally, AQR Capital Management LLC purchased a new position in Montauk Renewables in the 1st quarter worth $62,000. 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.