B. Riley Research Analysts Cut Earnings Estimates for MNTK

Montauk Renewables, Inc. (NASDAQ:MNTK - Free Report) - B. Riley lowered their FY2024 earnings per share (EPS) estimates for shares of Montauk Renewables in a research report issued on Monday, November 4th. B. Riley analyst R. Pfingst now anticipates that the company will post earnings per share of $0.21 for the year, down from their previous forecast of $0.24. The consensus estimate for Montauk Renewables' current full-year earnings is $0.20 per share. B. Riley also issued estimates for Montauk Renewables' Q4 2024 earnings at $0.12 EPS and FY2025 earnings at $0.25 EPS.

Montauk Renewables (NASDAQ:MNTK - Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.07). The company had revenue of $43.34 million for the quarter, compared to analysts' expectations of $50.63 million. Montauk Renewables had a return on equity of 7.52% and a net margin of 10.22%. During the same period in the previous year, the business posted $0.01 EPS.

Separately, Scotiabank restated a "sector perform" rating and set a $6.00 price objective (down previously from $8.00) on shares of Montauk Renewables in a report on Tuesday, September 3rd.

Montauk Renewables Trading Up 4.1 %

Shares of MNTK stock traded up $0.24 during mid-day trading on Wednesday, hitting $6.03. 430,032 shares of the company's stock were exchanged, compared to its average volume of 127,275. Montauk Renewables has a fifty-two week low of $3.38 and a fifty-two week high of $10.58. The stock has a 50-day simple moving average of $5.12 and a two-hundred day simple moving average of $5.03. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.19. The stock has a market cap of $865.97 million, a price-to-earnings ratio of 46.39 and a beta of -0.21.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MNTK. CWM LLC increased its position in shares of Montauk Renewables by 1,425.5% during the second quarter. CWM LLC now owns 4,485 shares of the company's stock worth $26,000 after acquiring an additional 4,191 shares during the last quarter. Bleakley Financial Group LLC bought a new stake in Montauk Renewables in the third quarter valued at about $73,000. SG Americas Securities LLC acquired a new position in Montauk Renewables in the third quarter valued at approximately $114,000. Principal Financial Group Inc. boosted its stake in Montauk Renewables by 8.9% in the second quarter. Principal Financial Group Inc. now owns 25,902 shares of the company's stock valued at $148,000 after acquiring an additional 2,107 shares during the period. Finally, Quadrature Capital Ltd boosted its stake in Montauk Renewables by 284.3% in the first quarter. Quadrature Capital Ltd now owns 42,600 shares of the company's stock valued at $177,000 after acquiring an additional 31,514 shares during the period. Institutional investors and hedge funds 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.