Montauk Renewables (NASDAQ:MNTK) Rating Increased to Strong-Buy at Zacks Research

Montauk Renewables (NASDAQ:MNTK) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Several other equities analysts have also commented on MNTK. Wall Street Zen raised Montauk Renewables from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Weiss Ratings reissued a “sell (d)” rating on shares of Montauk Renewables in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Montauk Renewables has a consensus rating of “Hold”.

Montauk Renewables Stock Performance

Shares of MNTK stock opened at $1.28 on Wednesday. The stock has a fifty day moving average of $1.40 and a 200 day moving average of $1.68. Montauk Renewables has a 52 week low of $1.07 and a 52 week high of $2.78. The firm has a market capitalization of $183.35 million, a price-to-earnings ratio of 64.03 and a beta of 0.18. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.48.

Montauk Renewables (NASDAQ:MNTK) last announced its quarterly earnings results on Wednesday, March 11th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.04). The business had revenue of $43.39 million during the quarter, compared to analysts’ expectations of $44.39 million. Montauk Renewables had a return on equity of 0.10% and a net margin of 0.15%. As a group, research analysts expect that Montauk Renewables will post 0.19 earnings per share for the current year.

Hedge Funds Weigh In On Montauk Renewables

Several large investors have recently modified their holdings of the stock. Geode Capital Management LLC raised its position in shares of Montauk Renewables by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 1,724,933 shares of the company’s stock worth $2,881,000 after purchasing an additional 37,315 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Montauk Renewables by 1.9% in the 4th quarter. Renaissance Technologies LLC now owns 342,700 shares of the company’s stock worth $572,000 after purchasing an additional 6,300 shares during the last quarter. Citadel Advisors LLC raised its position in shares of Montauk Renewables by 178.4% in the 3rd quarter. Citadel Advisors LLC now owns 204,707 shares of the company’s stock worth $411,000 after purchasing an additional 131,164 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Montauk Renewables by 18.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 196,032 shares of the company’s stock worth $327,000 after purchasing an additional 30,273 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Montauk Renewables by 174.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 177,855 shares of the company’s stock worth $357,000 after buying an additional 113,083 shares in the last quarter. Hedge funds and other institutional investors own 16.35% of the company’s stock.

About Montauk Renewables

Montauk Renewables Holdings, Inc is a renewable energy company headquartered in Irving, Texas, specializing in the capture and conversion of landfill gas into clean energy products. The company’s core operations focus on the design, development and operation of landfill gas collection systems that extract methane and other biogases generated by municipal solid waste. Montauk processes this gas into renewable natural gas (RNG) suitable for pipeline injection and also generates electricity for sale to utilities and commercial consumers.

Through its subsidiaries, Montauk provides a suite of environmental and waste‐management services across the United States and Canada.