SIR Capital Management L.P. Purchases 155,546 Shares of Montauk Renewables, Inc. (NASDAQ:MNTK)

SIR Capital Management L.P. lifted its position in Montauk Renewables, Inc. (NASDAQ:MNTK) by 91.2% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 326,074 shares of the company’s stock after acquiring an additional 155,546 shares during the quarter. SIR Capital Management L.P.’s holdings in Montauk Renewables were worth $1,859,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Montauk Renewables by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 3,593,935 shares of the company’s stock worth $14,951,000 after acquiring an additional 59,375 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Montauk Renewables by 81.0% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 502,682 shares of the company’s stock worth $2,091,000 after buying an additional 224,895 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Montauk Renewables by 3.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 263,278 shares of the company’s stock worth $1,501,000 after buying an additional 7,558 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Montauk Renewables by 14.3% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 152,334 shares of the company’s stock worth $634,000 after buying an additional 19,086 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Montauk Renewables by 14.7% in the 4th quarter. Russell Investments Group Ltd. now owns 134,750 shares of the company’s stock worth $1,226,000 after buying an additional 17,240 shares during the last quarter. Institutional investors own 16.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Scotiabank reissued a “sector perform” rating and issued a $6.00 price target (down from $8.00) on shares of Montauk Renewables in a report on Tuesday, September 3rd.

Montauk Renewables Price Performance

NASDAQ MNTK opened at $4.18 on Tuesday. The company has a market cap of $600.29 million, a PE ratio of 27.87 and a beta of -0.20. Montauk Renewables, Inc. has a 52 week low of $3.38 and a 52 week high of $10.95. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.19. The firm’s 50-day simple moving average is $5.06 and its two-hundred day simple moving average is $4.82.

Montauk Renewables (NASDAQ:MNTK) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.07). The business had revenue of $43.34 million for the quarter, compared to analysts’ expectations of $50.63 million. Montauk Renewables had a net margin of 10.22% and a return on equity of 7.52%. During the same period last year, the company earned $0.01 earnings per share. Research analysts predict that Montauk Renewables, Inc. will post 0.25 earnings per share for the current year.

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 captures methane and prevents it from being released into the atmosphere by converting it into either RNG or electrical power for the electrical grid.