Montauk Renewables (NASDAQ:MNTK) Trading 8.3% Higher – Here’s Why

Montauk Renewables, Inc. (NASDAQ:MNTKGet Free Report)’s share price traded up 8.3% during trading on Thursday . The stock traded as high as $4.45 and last traded at $4.45. 8,582 shares changed hands during trading, a decline of 97% from the average session volume of 280,700 shares. The stock had previously closed at $4.11.

Analysts Set New Price Targets

Separately, Scotiabank restated a “sector perform” rating and set a $6.00 target price (down from $8.00) on shares of Montauk Renewables in a report on Tuesday, September 3rd.

Check Out Our Latest Research Report on Montauk Renewables

Montauk Renewables Stock Performance

The stock’s 50-day moving average price is $5.21 and its 200 day moving average price is $5.09. The company has a quick ratio of 1.66, a current ratio of 2.04 and a debt-to-equity ratio of 0.17. The company has a market cap of $590.68 million, a P/E ratio of 25.75 and a beta of -0.21.

Montauk Renewables (NASDAQ:MNTKGet Free Report) last posted its earnings results on Tuesday, November 12th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.04. The business had revenue of $65.92 million for the quarter, compared to analyst estimates of $61.27 million. Montauk Renewables had a net margin of 11.80% and a return on equity of 8.88%. As a group, research analysts expect that Montauk Renewables, Inc. will post 0.19 EPS for the current fiscal year.

Institutional Trading of Montauk Renewables

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Montauk Renewables by 1.7% in the 1st 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. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Montauk Renewables by 14.3% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 152,334 shares of the company’s stock valued at $634,000 after acquiring an additional 19,086 shares during the period. Quadrature Capital Ltd raised its holdings in Montauk Renewables by 284.3% in the 1st quarter. Quadrature Capital Ltd now owns 42,600 shares of the company’s stock valued at $177,000 after acquiring an additional 31,514 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Montauk Renewables by 33.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 43,329 shares of the company’s stock worth $181,000 after acquiring an additional 10,850 shares during the period. Finally, Janus Henderson Group PLC grew its holdings in shares of Montauk Renewables by 81.3% during the 1st quarter. Janus Henderson Group PLC now owns 71,323 shares of the company’s stock worth $296,000 after purchasing an additional 31,974 shares in the last quarter. Institutional investors own 16.35% of the company’s stock.

Montauk Renewables Company Profile

(Get Free Report)

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.

Further Reading

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