B. Riley Expects Reduced Earnings for Montauk Renewables

Montauk Renewables, Inc. (NASDAQ:MNTK) – B. Riley lowered their FY2024 earnings per share estimates for Montauk Renewables in a research report issued on Thursday, February 27th. B. Riley analyst R. Pfingst now forecasts that the company will post earnings per share of $0.18 for the year, down from their prior estimate of $0.21. The consensus estimate for Montauk Renewables’ current full-year earnings is $0.19 per share.

Montauk Renewables Trading Down 7.1 %

Shares of Montauk Renewables stock opened at $3.82 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.04 and a current ratio of 2.04. Montauk Renewables has a 52 week low of $3.38 and a 52 week high of $6.22. The stock has a 50 day moving average price of $4.23 and a two-hundred day moving average price of $4.58. The stock has a market capitalization of $547.67 million, a PE ratio of 23.88 and a beta of -0.25.

Institutional Investors Weigh In On Montauk Renewables

A number of hedge funds have recently added to or reduced their stakes in MNTK. GSA Capital Partners LLP grew its stake in Montauk Renewables by 481.1% in the third quarter. GSA Capital Partners LLP now owns 72,647 shares of the company’s stock valued at $378,000 after acquiring an additional 60,145 shares during the period. Townsquare Capital LLC bought a new position in shares of Montauk Renewables in the third quarter valued at approximately $75,000. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Montauk Renewables by 8.7% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 165,285 shares of the company’s stock valued at $861,000 after buying an additional 13,228 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Montauk Renewables by 16.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 70,749 shares of the company’s stock worth $369,000 after buying an additional 9,756 shares in the last quarter. Finally, Verition Fund Management LLC raised its position in Montauk Renewables by 12.4% in the 3rd quarter. Verition Fund Management LLC now owns 44,739 shares of the company’s stock valued at $233,000 after buying an additional 4,947 shares during the last quarter. Institutional investors and hedge funds own 16.35% of the company’s stock.

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.