Montauk Renewables, Inc. (NASDAQ:MNTK - Free Report) - Analysts at Scotiabank increased their FY2024 earnings per share (EPS) estimates for shares of Montauk Renewables in a research note issued to investors on Wednesday, January 8th. Scotiabank analyst P. Cheng now expects that the company will earn $0.17 per share for the year, up from their previous forecast of $0.16. The consensus estimate for Montauk Renewables' current full-year earnings is $0.19 per share.
Montauk Renewables Price Performance
Shares of NASDAQ:MNTK opened at $4.12 on Monday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.04 and a current ratio of 2.04. The firm has a market cap of $590.68 million, a price-to-earnings ratio of 25.75 and a beta of -0.26. The firm has a fifty day moving average price of $4.33 and a 200 day moving average price of $4.86. Montauk Renewables has a fifty-two week low of $3.38 and a fifty-two week high of $8.23.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in the company. Marshall Wace LLP bought a new position in Montauk Renewables during the second quarter valued at approximately $962,000. JPMorgan Chase & Co. grew its holdings in shares of Montauk Renewables by 237.4% in the third quarter. JPMorgan Chase & Co. now owns 173,483 shares of the company's stock valued at $904,000 after purchasing an additional 122,072 shares in the last quarter. AQR Capital Management LLC bought a new stake in Montauk Renewables in the second quarter worth $456,000. GSA Capital Partners LLP lifted its position in Montauk Renewables by 481.1% during the third quarter. GSA Capital Partners LLP now owns 72,647 shares of the company's stock valued at $378,000 after purchasing an additional 60,145 shares during the last quarter. Finally, Zacks Investment Management increased its holdings in shares of Montauk Renewables by 336.5% in the 3rd quarter. Zacks Investment Management now owns 72,258 shares of the company's stock worth $376,000 after buying an additional 55,705 shares during the last quarter. Hedge funds and other institutional investors own 16.35% of the company's stock.
About Montauk Renewables
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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.
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