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

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

Analyst Upgrades and Downgrades

MNTK has been the topic of several research reports. B. Riley decreased their target price on Montauk Renewables from $7.00 to $6.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 7th. TheStreet lowered shares of Montauk Renewables from a “c-” rating to a “d+” rating in a report on Wednesday, March 6th. Finally, Scotiabank decreased their price target on shares of Montauk Renewables from $9.00 to $8.00 and set a “sector outperform” rating on the stock in a research note on Thursday, April 11th.

Montauk Renewables Stock Performance

The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.27 and a current ratio of 2.27. The firm has a market cap of $771.67 million, a PE ratio of 34.53 and a beta of -0.18. The firm’s 50 day moving average price is $4.88 and its two-hundred day moving average price is $5.72.

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

Institutional Investors Weigh In On Montauk Renewables

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Montauk Renewables by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 3,593,935 shares of the company’s stock worth $14,951,000 after acquiring an additional 59,375 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its position in shares of Montauk Renewables by 81.0% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 502,682 shares of the company’s stock valued at $2,091,000 after purchasing an additional 224,895 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Montauk Renewables by 4.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 498,080 shares of the company’s stock worth $4,538,000 after buying an additional 20,139 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in Montauk Renewables by 14.3% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 152,334 shares of the company’s stock worth $634,000 after buying an additional 19,086 shares during the period. Finally, Russell Investments Group Ltd. lifted its stake in Montauk Renewables by 14.7% in the fourth quarter. Russell Investments Group Ltd. now owns 134,750 shares of the company’s stock valued at $1,226,000 after buying an additional 17,240 shares during the last quarter. 16.35% of the stock is currently 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.