Montauk Renewables, Inc. (NASDAQ:MNTK – Get Free Report) crossed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $1.77 and traded as low as $1.12. Montauk Renewables shares last traded at $1.19, with a volume of 2,638,756 shares changing hands.
Analysts Set New Price Targets
Several equities research analysts have weighed in on the company. Weiss Ratings raised Montauk Renewables from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, September 24th. Zacks Research cut Montauk Renewables from a “strong-buy” rating to a “hold” rating in a report on Monday, November 2nd. Three investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $1.80.
View Our Latest Stock Analysis on Montauk Renewables
Montauk Renewables Trading Down 57.2%
The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.57. The company has a 50-day simple moving average of $2.40 and a 200 day simple moving average of $1.77. The firm has a market cap of $169.38 million, a PE ratio of 19.84 and a beta of 0.70.
Hedge Funds Weigh In On Montauk Renewables
Several institutional investors have recently made changes to their positions in the company. Voya Investment Management LLC acquired a new position in shares of Montauk Renewables in the 3rd quarter valued at $38,000. Ieq Capital LLC acquired a new stake in Montauk Renewables during the second quarter valued at $52,000. Bank of America Corp DE acquired a new stake in Montauk Renewables during the second quarter valued at $70,000. Deutsche Bank AG purchased a new position in Montauk Renewables in the second quarter valued at $76,000. Finally, J. Derek Lewis & Associates Inc. purchased a new position in Montauk Renewables in the first quarter valued at $98,000. 16.35% of the stock is owned by hedge funds and other institutional investors.
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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