Montauk Renewables, Inc. (NASDAQ:MNTK) Stock Has Average Target Price of $1.80

Montauk Renewables, Inc. (NASDAQ:MNTK) has received a consensus recommendation of “Hold” from the five brokerages that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $1.80.

A number of research analysts recently issued reports on the stock. Zacks Research upgraded shares of Montauk Renewables from a “hold” rating to a “strong-buy” rating in a report on Tuesday, September 1st. Weiss Ratings upgraded shares of Montauk Renewables from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, September 24th.

Montauk Renewables Stock Performance

Shares of NASDAQ:MNTK opened at $2.12 on Friday. The firm’s 50 day simple moving average is $2.25 and its 200 day simple moving average is $1.79. Montauk Renewables has a fifty-two week low of $1.07 and a fifty-two week high of $3.28. The company has a market capitalization of $301.76 million, a price-to-earnings ratio of 35.34 and a beta of 0.66. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.62 and a quick ratio of 0.62.

Institutional Trading of Montauk Renewables

A number of large investors have recently made changes to their positions in MNTK. Rathbones Group PLC raised its stake in Montauk Renewables by 10.9% during the 1st quarter. Rathbones Group PLC now owns 102,000 shares of the company’s stock worth $117,000 after buying an additional 10,000 shares during the period. Renaissance Technologies LLC grew its stake in Montauk Renewables by 3.5% in the first quarter. Renaissance Technologies LLC now owns 354,600 shares of the company’s stock valued at $408,000 after acquiring an additional 11,900 shares during the period. Ieq Capital LLC acquired a new position in Montauk Renewables in the second quarter valued at about $52,000. Bank of America Corp DE bought a new stake in shares of Montauk Renewables in the second quarter worth about $70,000. Finally, Deutsche Bank AG bought a new stake in shares of Montauk Renewables in the second quarter worth about $76,000. Institutional investors own 16.35% of the company’s stock.

About Montauk Renewables

Montauk Renewables, Inc is a renewable energy company focused on recovering energy from landfill gas and other biogas sources. The company develops, owns and operates facilities that capture methane produced by landfills and convert it into renewable natural gas (RNG) and renewable electricity.

Montauk’s RNG operations process biogas into pipeline-quality natural gas that can be used as a transportation fuel or delivered through natural gas infrastructure. The company also generates electricity from landfill gas and may benefit from environmental attributes associated with renewable energy, including renewable identification numbers and other credits.

Founded in 1988, Montauk Renewables operates projects primarily in the United States.