Montauk Renewables (NASDAQ:MNTK) Shares Gap Down – Here’s Why

Montauk Renewables, Inc. (NASDAQ:MNTK)’s share price gapped down prior to trading on Monday . The stock had previously closed at $4.94, but opened at $4.66. Montauk Renewables shares last traded at $4.71, with a volume of 73,814 shares.

Montauk Renewables Stock Down 2.5 %

The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.04 and a current ratio of 2.04. The stock’s fifty day simple moving average is $4.41 and its two-hundred day simple moving average is $4.89. The company has a market capitalization of $622.22 million, a price-to-earnings ratio of 27.13 and a beta of -0.26.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MNTK. Point72 Asia Singapore Pte. Ltd. boosted its stake in shares of Montauk Renewables by 105.0% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,898 shares of the company’s stock worth $26,000 after acquiring an additional 2,509 shares in the last quarter. Bleakley Financial Group LLC acquired a new position in shares of Montauk Renewables in the 3rd quarter valued at $73,000. Townsquare Capital LLC purchased a new position in Montauk Renewables in the 3rd quarter worth about $75,000. SG Americas Securities LLC acquired a new stake in Montauk Renewables during the 3rd quarter worth about $114,000. Finally, Principal Financial Group Inc. raised its holdings in Montauk Renewables by 8.9% during the 2nd quarter. Principal Financial Group Inc. now owns 25,902 shares of the company’s stock worth $148,000 after buying an additional 2,107 shares during the period. Institutional investors 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.