Montauk Renewables (NASDAQ:MNTK) Shares Gap Down – What’s Next?

Montauk Renewables, Inc. (NASDAQ:MNTK)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $4.94, but opened at $4.66. Montauk Renewables shares last traded at $4.71, with a volume of 73,814 shares trading hands.

Montauk Renewables Stock Performance

The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 2.04. The stock has a fifty day moving average price of $4.41 and a two-hundred day moving average price of $4.89. The company has a market cap of $622.22 million, a P/E ratio of 27.13 and a beta of -0.26.

Institutional Investors Weigh In On Montauk Renewables

Several institutional investors have recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. raised its position in shares of Montauk Renewables by 105.0% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,898 shares of the company’s stock worth $26,000 after buying an additional 2,509 shares in the last quarter. Bleakley Financial Group LLC acquired a new position in shares of Montauk Renewables during the third quarter valued at approximately $73,000. Townsquare Capital LLC bought a new stake in Montauk Renewables during the third quarter worth approximately $75,000. SG Americas Securities LLC acquired a new stake in Montauk Renewables in the third quarter worth approximately $114,000. Finally, Principal Financial Group Inc. boosted its stake in Montauk Renewables by 8.9% during the 2nd quarter. Principal Financial Group Inc. now owns 25,902 shares of the company’s stock valued at $148,000 after purchasing an additional 2,107 shares in the last quarter. Institutional investors and hedge funds own 16.35% of the company’s stock.

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.