Montauk Renewables (NASDAQ:MNTK) Shares Gap Down to $3.65

Montauk Renewables, Inc. (NASDAQ:MNTK) gapped down prior to trading on Wednesday . The stock had previously closed at $3.65, but opened at $3.54. Montauk Renewables shares last traded at $3.57, with a volume of 34,323 shares traded.

Wall Street Analysts Forecast Growth

MNTK has been the topic of several analyst reports. Scotiabank dropped their target price on Montauk Renewables from $9.00 to $8.00 and set a “sector outperform” rating on the stock in a report on Thursday, April 11th. TheStreet cut shares of Montauk Renewables from a “c-” rating to a “d+” rating in a research report on Wednesday, March 6th. Finally, B. Riley cut their price objective on shares of Montauk Renewables from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Thursday, March 7th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $8.00.

Montauk Renewables Price Performance

The company has a debt-to-equity ratio of 0.22, a current ratio of 3.07 and a quick ratio of 3.07. The business’s 50-day moving average price is $4.64 and its two-hundred day moving average price is $7.27. The firm has a market cap of $544.32 million, a price-to-earnings ratio of 34.46 and a beta of -0.49.

Montauk Renewables (NASDAQ:MNTK) last released its earnings results on Thursday, March 14th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.02). The company had revenue of $46.81 million during the quarter, compared to the consensus estimate of $52.86 million. Montauk Renewables had a return on equity of 6.32% and a net margin of 8.55%. On average, research analysts forecast that Montauk Renewables, Inc. will post 0.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. C M Bidwell & Associates Ltd. bought a new position in Montauk Renewables during the third quarter worth $35,000. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of Montauk Renewables by 32.3% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 8,507 shares of the company’s stock valued at $76,000 after buying an additional 2,079 shares during the period. Orion Portfolio Solutions LLC bought a new stake in shares of Montauk Renewables during the 3rd quarter valued at about $99,000. Quadrature Capital Ltd acquired a new stake in Montauk Renewables during the fourth quarter worth about $99,000. Finally, Strs Ohio bought a new position in Montauk Renewables in the third quarter worth about $144,000. Institutional investors and hedge funds own 16.35% of the company’s stock.

Montauk Renewables Company Profile

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.