FY2024 EPS Forecast for Montauk Renewables Lifted by Analyst

Montauk Renewables, Inc. (NASDAQ:MNTK) – Equities researchers at Scotiabank upped their FY2024 earnings per share (EPS) estimates for shares of Montauk Renewables in a research report issued to clients and investors on Wednesday, January 8th. Scotiabank analyst P. Cheng now forecasts that the company will post earnings of $0.17 per share for the year, up from their previous forecast of $0.16. The consensus estimate for Montauk Renewables’ current full-year earnings is $0.19 per share.

Montauk Renewables Stock Performance

NASDAQ:MNTK opened at $3.97 on Monday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.04 and a current ratio of 2.04. Montauk Renewables has a fifty-two week low of $3.38 and a fifty-two week high of $8.03. The company has a market cap of $569.17 million, a price-to-earnings ratio of 24.81 and a beta of -0.26. The stock has a fifty day moving average price of $4.26 and a 200-day moving average price of $4.84.

Hedge Funds Weigh In On Montauk Renewables

Several hedge funds have recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. boosted its stake in shares of Montauk Renewables by 105.0% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,898 shares of the company’s stock valued at $26,000 after purchasing an additional 2,509 shares in the last quarter. Bleakley Financial Group LLC bought a new position in Montauk Renewables in the 3rd quarter valued at approximately $73,000. Townsquare Capital LLC acquired a new stake in Montauk Renewables in the third quarter valued at approximately $75,000. SG Americas Securities LLC bought a new stake in shares of Montauk Renewables during the third quarter worth $114,000. Finally, Principal Financial Group Inc. increased its holdings in shares of Montauk Renewables by 8.9% during the second 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 in the last quarter. 16.35% of the stock is owned by institutional investors.

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.