Montauk Renewables, Inc. (NASDAQ:MNTK)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $10.20, but opened at $9.79. Montauk Renewables shares last traded at $10.36, with a volume of 235 shares.
Separately, Zacks Investment Research downgraded shares of Montauk Renewables from a “buy” rating to a “hold” rating in a research note on Wednesday, January 5th.
The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.28. The company’s 50 day moving average is $10.20 and its 200-day moving average is $9.59.
Hedge funds have recently made changes to their positions in the business. Citigroup Inc. acquired a new position in shares of Montauk Renewables in the 3rd quarter valued at about $45,000. Morgan Stanley boosted its holdings in shares of Montauk Renewables by 48.2% in the 2nd quarter. Morgan Stanley now owns 6,303 shares of the company’s stock valued at $48,000 after buying an additional 2,051 shares during the period. Renaissance Technologies LLC acquired a new position in shares of Montauk Renewables in the 2nd quarter valued at about $174,000. Bank of New York Mellon Corp acquired a new position in shares of Montauk Renewables in the 3rd quarter valued at about $212,000. Finally, Bank of America Corp DE boosted its holdings in shares of Montauk Renewables by 449.7% in the 2nd quarter. Bank of America Corp DE now owns 28,342 shares of the company’s stock valued at $217,000 after buying an additional 23,186 shares during the period. 4.35% of the stock is owned by institutional investors.
Montauk Renewables Company Profile (NASDAQ:MNTK)
Montauk Renewables, Inc, a renewable energy company, engages in recovery and processing of biogas from landfills and other non-fossil fuel sources. The company develops, owns, and operates renewable natural gas (RNG) projects that capture methane and prevents it from being released into the atmosphere by converting it into either RNG or electrical power for the electrical grid.
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