Montauk Renewables (NASDAQ:MNTK) Posts Earnings Results, Beats Expectations By $0.04 EPS

Montauk Renewables (NASDAQ:MNTK) posted its quarterly earnings data on Tuesday. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.04, reports. The firm 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 9.07% and a net margin of 11.80%. Montauk Renewables updated its FY 2024 guidance to EPS.

Montauk Renewables Price Performance

Shares of Montauk Renewables stock opened at $4.11 on Thursday. Montauk Renewables has a 12-month low of $3.38 and a 12-month high of $9.75. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.19. The company’s fifty day simple moving average is $5.22 and its two-hundred day simple moving average is $5.09. The firm has a market cap of $590.24 million, a PE ratio of 25.69 and a beta of -0.21.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Montauk Renewables

A number of large investors have recently made changes to their positions in MNTK. CWM LLC boosted its stake in shares of Montauk Renewables by 1,425.5% during the 2nd quarter. CWM LLC now owns 4,485 shares of the company’s stock valued at $26,000 after purchasing an additional 4,191 shares in the last quarter. Bleakley Financial Group LLC bought a new position in shares of Montauk Renewables during the third quarter valued at $73,000. Townsquare Capital LLC purchased a new position in Montauk Renewables in the third quarter worth about $75,000. SG Americas Securities LLC purchased a new stake in Montauk Renewables during the 3rd quarter valued at $114,000. Finally, Principal Financial Group Inc. raised its position in Montauk Renewables by 8.9% in 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 last quarter. 16.35% of the stock is currently owned by 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.