Zacks Research cut shares of Montauk Renewables (NASDAQ:MNTK – Free Report) from a strong-buy rating to a hold rating in a research report released on Monday morning,Zacks reports.
Separately, Weiss Ratings upgraded shares of Montauk Renewables from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, September 24th. Four analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $1.80.
Get Our Latest Report on Montauk Renewables
Montauk Renewables Trading Up 2.9%
Shares of Montauk Renewables stock opened at $2.48 on Monday. The company has a market cap of $353.00 million, a P/E ratio of 41.34 and a beta of 0.70. Montauk Renewables has a fifty-two week low of $1.07 and a fifty-two week high of $3.28. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.62 and a current ratio of 0.62. The firm has a 50-day simple moving average of $2.34 and a two-hundred day simple moving average of $1.75.
Institutional Trading of Montauk Renewables
Hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new position in shares of Montauk Renewables during the 2nd quarter worth $7,347,000. GSA Capital Partners LLP purchased a new stake in Montauk Renewables during the 2nd quarter worth about $314,000. Bank of New York Mellon Corp acquired a new position in shares of Montauk Renewables in the second quarter valued at approximately $306,000. J. Derek Lewis & Associates Inc. acquired a new position in Montauk Renewables in the 1st quarter valued at $98,000. Finally, Deutsche Bank AG acquired a new position in Montauk Renewables in the second quarter valued at $76,000. Institutional investors and hedge funds own 16.35% of the company’s stock.
About Montauk Renewables
Montauk Renewables, Inc is a renewable energy company that develops, owns and operates projects that capture methane from landfills and other organic waste sources. The company converts this biogas into renewable natural gas (RNG), which can be used as a lower-carbon transportation fuel or delivered into natural gas pipelines.
In addition to RNG production, Montauk Renewables generates renewable electricity from landfill gas at certain facilities. Its activities may also generate environmental attributes, including renewable identification numbers and other credits associated with the use of renewable fuels.
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