Montauk Renewables (NASDAQ:MNTK) Given New $3.00 Price Target at B. Riley

Montauk Renewables (NASDAQ:MNTK) had its price target lowered by B. Riley from $4.00 to $3.00 in a report issued on Friday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

Montauk Renewables Stock Down 16.9 %

Shares of Montauk Renewables stock opened at $2.07 on Friday. Montauk Renewables has a 1 year low of $2.06 and a 1 year high of $6.22. The business has a 50-day moving average of $3.98 and a two-hundred day moving average of $4.47. The company has a market capitalization of $296.77 million, a P/E ratio of 12.94 and a beta of -0.20. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 2.04.

Montauk Renewables (NASDAQ:MNTK) last announced its quarterly earnings results on Thursday, March 13th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.11). Montauk Renewables had a return on equity of 8.88% and a net margin of 11.80%. The business had revenue of $27.74 million during the quarter, compared to the consensus estimate of $59.92 million. As a group, equities analysts predict that Montauk Renewables will post 0.19 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. grew its holdings in shares of Montauk Renewables by 237.4% during the third quarter. JPMorgan Chase & Co. now owns 173,483 shares of the company’s stock worth $904,000 after buying an additional 122,072 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Montauk Renewables by 3.8% during the fourth quarter. Rhumbline Advisers now owns 90,439 shares of the company’s stock worth $360,000 after buying an additional 3,285 shares in the last quarter. State Street Corp grew its holdings in shares of Montauk Renewables by 1.6% during the third quarter. State Street Corp now owns 1,613,351 shares of the company’s stock worth $8,406,000 after buying an additional 25,732 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Montauk Renewables by 0.6% during the third quarter. Geode Capital Management LLC now owns 1,636,368 shares of the company’s stock worth $8,527,000 after buying an additional 9,203 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Montauk Renewables by 16.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 70,749 shares of the company’s stock worth $369,000 after buying an additional 9,756 shares in the last quarter. 16.35% of the stock is currently owned by institutional investors.

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.