Montauk Renewables (NASDAQ:MNTK) Trading Up 8.3% – Still a Buy?

Montauk Renewables, Inc. (NASDAQ:MNTK)’s share price rose 8.3% during mid-day trading on Thursday . The stock traded as high as $4.45 and last traded at $4.45. Approximately 8,582 shares were traded during mid-day trading, a decline of 97% from the average daily volume of 280,700 shares. The stock had previously closed at $4.11.

Analysts Set New Price Targets

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

Montauk Renewables Stock Down 4.4 %

The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.66 and a current ratio of 2.04. The stock has a market cap of $590.68 million, a price-to-earnings ratio of 25.75 and a beta of -0.21. The business’s 50 day moving average is $5.21 and its 200 day moving average is $5.09.

Montauk Renewables (NASDAQ:MNTK) last issued its earnings results on Tuesday, November 12th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.08 by $0.04. The business had revenue of $65.92 million during the quarter, compared to analysts’ expectations of $61.27 million. Montauk Renewables had a return on equity of 8.88% and a net margin of 11.80%. Equities analysts expect that Montauk Renewables, Inc. will post 0.19 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MNTK. Jacobs Levy Equity Management Inc. boosted its stake in shares of Montauk Renewables by 81.0% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 502,682 shares of the company’s stock valued at $2,091,000 after buying an additional 224,895 shares during the period. Marshall Wace LLP acquired a new position in Montauk Renewables in the 2nd quarter worth about $962,000. SIR Capital Management L.P. raised its stake in shares of Montauk Renewables by 91.2% during the 2nd quarter. SIR Capital Management L.P. now owns 326,074 shares of the company’s stock worth $1,859,000 after purchasing an additional 155,546 shares in the last quarter. Tidal Investments LLC acquired a new stake in shares of Montauk Renewables during the 1st quarter valued at about $368,000. Finally, AQR Capital Management LLC bought a new stake in shares of Montauk Renewables in the 2nd quarter valued at approximately $456,000. 16.35% of the stock is owned by hedge funds and other institutional investors.

Montauk Renewables Company Profile

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.