Montauk Renewables, Inc. (NASDAQ:MNTK – Get Free Report) fell 3.3% during mid-day trading on Thursday after B. Riley lowered their price target on the stock from $8.00 to $7.00. B. Riley currently has a neutral rating on the stock. Montauk Renewables traded as low as $5.05 and last traded at $5.05. 28,361 shares changed hands during trading, a decline of 89% from the average session volume of 258,689 shares. The stock had previously closed at $5.22.
A number of other analysts also recently issued reports on MNTK. Scotiabank raised shares of Montauk Renewables from a “sector perform” rating to a “sector outperform” rating and set a $9.00 price objective for the company in a report on Monday, November 13th. TheStreet upgraded shares of Montauk Renewables from a “d+” rating to a “c” rating in a research report on Friday, November 10th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $8.25.
Hedge Funds Weigh In On Montauk Renewables
A number of hedge funds have recently modified their holdings of MNTK. JPMorgan Chase & Co. increased its position in shares of Montauk Renewables by 447.4% in the first quarter. JPMorgan Chase & Co. now owns 76,363 shares of the company’s stock valued at $855,000 after acquiring an additional 62,412 shares during the period. Citigroup Inc. increased its position in shares of Montauk Renewables by 25.7% in the first quarter. Citigroup Inc. now owns 45,403 shares of the company’s stock valued at $508,000 after acquiring an additional 9,275 shares during the period. Vanguard Group Inc. increased its position in shares of Montauk Renewables by 5.7% in the first quarter. Vanguard Group Inc. now owns 2,692,106 shares of the company’s stock valued at $30,151,000 after acquiring an additional 144,762 shares during the period. Lazard Asset Management LLC purchased a new position in shares of Montauk Renewables in the first quarter valued at about $52,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Montauk Renewables by 4.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 318,503 shares of the company’s stock valued at $3,568,000 after purchasing an additional 12,337 shares in the last quarter. Hedge funds and other institutional investors own 16.28% of the company’s stock.
Montauk Renewables Price Performance
The business’s 50 day moving average price is $7.08 and its two-hundred day moving average price is $8.59. The stock has a market cap of $738.41 million, a P/E ratio of 43.50 and a beta of -0.43. The company has a current ratio of 3.55, a quick ratio of 3.55 and a debt-to-equity ratio of 0.24.
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 capture methane and prevents it from being released into the atmosphere by converting it into either RNG or electrical power for the electrical grid.