Montauk Renewables (NASDAQ:MNTK) Shares Gap Down to $10.20

Shares of Montauk Renewables, Inc. (NASDAQ:MNTK) gapped down before the market opened on Thursday . The stock had previously closed at $10.20, but opened at $9.79. Montauk Renewables shares last traded at $10.36, with a volume of 235 shares trading hands.

Separately, Zacks Investment Research lowered shares of Montauk Renewables from a “buy” rating to a “hold” rating in a report on Wednesday, January 5th.

The stock’s 50-day moving average is $10.20 and its 200 day moving average is $9.59. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.28.

Montauk Renewables (NASDAQ:MNTK) last announced its quarterly earnings data on Monday, November 15th. The company reported $0.06 EPS for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.05. Montauk Renewables had a negative net margin of 5.88% and a negative return on equity of 4.58%. The firm had revenue of $39.75 million for the quarter, compared to the consensus estimate of $31.80 million. As a group, equities analysts anticipate that Montauk Renewables, Inc. will post 0.05 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in MNTK. Renaissance Technologies LLC bought a new stake in Montauk Renewables in the second quarter worth approximately $174,000. Geode Capital Management LLC grew its position in Montauk Renewables by 6.4% in the second quarter. Geode Capital Management LLC now owns 82,646 shares of the company’s stock worth $633,000 after acquiring an additional 4,968 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC grew its position in Montauk Renewables by 57.8% in the second quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,600,877 shares of the company’s stock worth $12,263,000 after acquiring an additional 586,579 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in Montauk Renewables in the third quarter worth approximately $212,000. Finally, Morgan Stanley bought a new stake in Montauk Renewables in the first quarter worth approximately $51,000. 4.35% of the stock is currently owned by hedge funds and other institutional investors.

About Montauk Renewables (NASDAQ:MNTK)

Montauk Renewables, Inc, a renewable energy company, engages in recovery and processing of biogas from landfills and other non-fossil fuel sources. 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.

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