Research Analysts Set Expectations for MNTK FY2024 Earnings

Montauk Renewables, Inc. (NASDAQ:MNTK) – B. Riley dropped their FY2024 earnings per share estimates for Montauk Renewables in a research report issued to clients and investors on Thursday, February 27th. B. Riley analyst R. Pfingst now anticipates that the company will post earnings of $0.18 per share for the year, down from their previous estimate of $0.21. The consensus estimate for Montauk Renewables’ current full-year earnings is $0.19 per share.

Montauk Renewables Stock Down 10.2 %

MNTK stock opened at $3.43 on Friday. The stock’s fifty day simple moving average is $4.22 and its two-hundred day simple moving average is $4.57. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.17. Montauk Renewables has a 1-year low of $3.38 and a 1-year high of $6.22. The stock has a market cap of $491.75 million, a P/E ratio of 21.44 and a beta of -0.25.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. GSA Capital Partners LLP grew its stake in shares of Montauk Renewables by 481.1% during the 3rd quarter. GSA Capital Partners LLP now owns 72,647 shares of the company’s stock worth $378,000 after acquiring an additional 60,145 shares during the period. Townsquare Capital LLC bought a new position in shares of Montauk Renewables during the 3rd quarter worth $75,000. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Montauk Renewables by 8.7% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 165,285 shares of the company’s stock worth $861,000 after acquiring an additional 13,228 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Montauk Renewables by 16.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 70,749 shares of the company’s stock worth $369,000 after acquiring an additional 9,756 shares during the period. Finally, Verition Fund Management LLC grew its stake in shares of Montauk Renewables by 12.4% during the 3rd quarter. Verition Fund Management LLC now owns 44,739 shares of the company’s stock worth $233,000 after acquiring an additional 4,947 shares during the period. Hedge funds and other institutional investors 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.