Equities Analysts Issue Forecasts for MNTK FY2024 Earnings

Montauk Renewables, Inc. (NASDAQ:MNTK - Free Report) - Research analysts at B. Riley lowered their FY2024 earnings estimates for shares of Montauk Renewables in a report released on Thursday, February 27th. B. Riley analyst R. Pfingst now anticipates that the company will post earnings of $0.18 per share for the year, down from their prior estimate of $0.21. The consensus estimate for Montauk Renewables' current full-year earnings is $0.19 per share.

Montauk Renewables Trading Down 13.4 %

Montauk Renewables stock traded down $0.46 during mid-day trading on Friday, reaching $2.97. 163,335 shares of the company traded hands, compared to its average volume of 141,506. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 2.04. The firm's 50 day moving average price is $4.20 and its 200 day moving average price is $4.57. The firm has a market capitalization of $425.80 million, a price-to-earnings ratio of 18.56 and a beta of -0.25. Montauk Renewables has a 52-week low of $2.97 and a 52-week high of $6.22.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in MNTK. KLP Kapitalforvaltning AS purchased a new stake in shares of Montauk Renewables in the 4th quarter worth about $25,000. Point72 Asia Singapore Pte. Ltd. grew its position in shares of Montauk Renewables by 105.0% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,898 shares of the company's stock worth $26,000 after buying an additional 2,509 shares during the period. N.E.W. Advisory Services LLC purchased a new stake in shares of Montauk Renewables in the 4th quarter worth about $40,000. ABC Arbitrage SA purchased a new stake in shares of Montauk Renewables in the 4th quarter worth about $55,000. Finally, ProShare Advisors LLC grew its position in shares of Montauk Renewables by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 18,588 shares of the company's stock worth $74,000 after buying an additional 6,117 shares during the period. 16.35% of the stock is owned by hedge funds and other 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.