Montauk Renewables (NASDAQ:MNTK) Stock Price Down 6.1%

Montauk Renewables, Inc. (NASDAQ:MNTK)’s share price dropped 6.1% on Monday . The company traded as low as $5.33 and last traded at $5.35. Approximately 262,850 shares changed hands during trading, a decline of 22% from the average daily volume of 336,945 shares. The stock had previously closed at $5.70.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Scotiabank lowered their price objective on Montauk Renewables from $9.00 to $8.00 and set a “sector outperform” rating for the company in a research report on Thursday, April 11th. B. Riley dropped their price target on Montauk Renewables from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Tuesday, May 7th. Finally, TheStreet lowered Montauk Renewables from a “c-” rating to a “d+” rating in a research note on Wednesday, March 6th.

Montauk Renewables Stock Performance

The company has a current ratio of 2.27, a quick ratio of 2.27 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $771.67 million, a price-to-earnings ratio of 34.53 and a beta of -0.18. The stock has a 50-day simple moving average of $4.88 and a 200-day simple moving average of $5.72.

Montauk Renewables (NASDAQ:MNTK) last issued its quarterly earnings results on Thursday, May 9th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.03. Montauk Renewables had a net margin of 10.58% and a return on equity of 8.44%. The business had revenue of $38.79 million for the quarter. During the same period in the previous year, the business posted ($0.03) EPS. On average, analysts anticipate that Montauk Renewables, Inc. will post 0.25 earnings per share for the current year.

Institutional Trading of Montauk Renewables

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jacobs Levy Equity Management Inc. lifted its holdings in 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 purchasing an additional 224,895 shares during the last quarter. Tidal Investments LLC acquired a new position in shares of Montauk Renewables in the 1st quarter worth approximately $368,000. Vanguard Group Inc. boosted its stake in Montauk Renewables by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 3,593,935 shares of the company’s stock valued at $14,951,000 after buying an additional 59,375 shares in the last quarter. Janus Henderson Group PLC grew its position in Montauk Renewables by 81.3% in the first quarter. Janus Henderson Group PLC now owns 71,323 shares of the company’s stock valued at $296,000 after acquiring an additional 31,974 shares during the period. Finally, Quadrature Capital Ltd raised its stake in Montauk Renewables by 284.3% during the first quarter. Quadrature Capital Ltd now owns 42,600 shares of the company’s stock worth $177,000 after acquiring an additional 31,514 shares in the last quarter. 16.35% of the stock is owned by institutional investors and hedge funds.

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.