Montauk Renewables (NASDAQ:MNTK) Reaches New 52-Week Low at $3.52

Shares of Montauk Renewables, Inc. (NASDAQ:MNTK) hit a new 52-week low on Wednesday . The stock traded as low as $3.52 and last traded at $3.52, with a volume of 69215 shares trading hands. The stock had previously closed at $3.61.

Wall Street Analysts Forecast Growth

MNTK has been the subject of several recent research reports. B. Riley decreased their price target on Montauk Renewables from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Thursday, March 7th. Scotiabank cut their target price on Montauk Renewables from $9.00 to $8.00 and set a “sector outperform” rating on the stock in a research report on Thursday, April 11th. Finally, TheStreet lowered Montauk Renewables from a “c-” rating to a “d+” rating in a research report on Wednesday, March 6th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $8.00.

Montauk Renewables Trading Down 0.6 %

The firm has a fifty day simple moving average of $5.05 and a 200-day simple moving average of $7.52. The firm has a market cap of $515.88 million, a P/E ratio of 32.78 and a beta of -0.49. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.07 and a quick ratio of 3.07.

Montauk Renewables (NASDAQ:MNTK) last announced its quarterly earnings results on Thursday, March 14th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.02). The firm 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, equities research analysts expect that Montauk Renewables, Inc. will post 0.29 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MNTK. State Street Corp lifted its holdings in shares of Montauk Renewables by 185.2% in the second quarter. State Street Corp now owns 1,606,609 shares of the company’s stock valued at $16,146,000 after purchasing an additional 1,043,323 shares in the last quarter. Northern Trust Corp increased its position in shares of Montauk Renewables by 437.1% during the second quarter. Northern Trust Corp now owns 583,443 shares of the company’s stock valued at $5,864,000 after acquiring an additional 474,806 shares during the last quarter. Millennium Management LLC increased its position in shares of Montauk Renewables by 117.0% during the fourth quarter. Millennium Management LLC now owns 797,303 shares of the company’s stock valued at $8,794,000 after acquiring an additional 429,809 shares during the last quarter. Susquehanna International Group LLP increased its position in shares of Montauk Renewables by 497.0% during the first quarter. Susquehanna International Group LLP now owns 375,075 shares of the company’s stock valued at $2,952,000 after acquiring an additional 312,249 shares during the last quarter. Finally, Amundi purchased a new stake in shares of Montauk Renewables during the fourth quarter valued at approximately $2,965,000. 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.