Montauk Renewables (NASDAQ:MNTK) Shares Up 4.5%

Montauk Renewables, Inc. (NASDAQ:MNTK) shares shot up 4.5% on Friday . The stock traded as high as $4.84 and last traded at $4.83. 36,896 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 308,365 shares. The stock had previously closed at $4.62.

Wall Street Analyst Weigh In

Separately, B. Riley cut their price target on shares of Montauk Renewables from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Tuesday, May 7th.

Montauk Renewables Price Performance

The company has a quick ratio of 2.27, a current ratio of 2.27 and a debt-to-equity ratio of 0.21. The firm has a market cap of $671.07 million, a PE ratio of 30.80 and a beta of -0.18. The stock has a 50 day moving average price of $5.21 and a two-hundred day moving average price of $4.94.

Montauk Renewables (NASDAQ:MNTK) last released its earnings results on Thursday, August 8th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.07). The company had revenue of $43.34 million for the quarter, compared to analysts’ expectations of $50.63 million. Montauk Renewables had a return on equity of 8.44% and a net margin of 10.58%. During the same period in the prior year, the firm posted $0.01 EPS. As a group, equities analysts expect that Montauk Renewables, Inc. will post 0.25 earnings per share for the current year.

Hedge Funds Weigh In On Montauk Renewables

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Montauk Renewables by 1.7% in the first quarter. Vanguard Group Inc. now owns 3,593,935 shares of the company’s stock valued at $14,951,000 after purchasing an additional 59,375 shares during the period. Dimensional Fund Advisors LP increased its holdings in Montauk Renewables by 1.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 702,914 shares of the company’s stock worth $4,007,000 after buying an additional 10,711 shares during the period. Jacobs Levy Equity Management Inc. lifted its stake in Montauk Renewables by 81.0% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 502,682 shares of the company’s stock valued at $2,091,000 after acquiring an additional 224,895 shares during the period. SIR Capital Management L.P. boosted its holdings in shares of Montauk Renewables by 91.2% in the 2nd quarter. SIR Capital Management L.P. now owns 326,074 shares of the company’s stock valued at $1,859,000 after acquiring an additional 155,546 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Montauk Renewables by 3.0% in the second quarter. Bank of New York Mellon Corp now owns 263,278 shares of the company’s stock worth $1,501,000 after acquiring an additional 7,558 shares during the period. 16.35% of the stock is owned by institutional investors and hedge funds.

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.