Montauk Renewables, Inc. (NASDAQ:MNTK) Position Lessened by Point72 Asset Management L.P.

Point72 Asset Management L.P. reduced its holdings in shares of Montauk Renewables, Inc. (NASDAQ:MNTK - Free Report) by 48.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 132,322 shares of the company's stock after selling 124,502 shares during the quarter. Point72 Asset Management L.P. owned 0.09% of Montauk Renewables worth $689,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Marshall Wace LLP purchased a new stake in shares of Montauk Renewables during the 2nd quarter valued at about $962,000. SIR Capital Management L.P. boosted its stake in shares of Montauk Renewables by 91.2% in the second quarter. SIR Capital Management L.P. now owns 326,074 shares of the company's stock valued at $1,859,000 after purchasing an additional 155,546 shares during the period. AQR Capital Management LLC acquired a new stake in Montauk Renewables during the 2nd quarter valued at $456,000. Assenagon Asset Management S.A. purchased a new stake in Montauk Renewables during the 2nd quarter worth $373,000. Finally, GSA Capital Partners LLP lifted its holdings in Montauk Renewables by 481.1% in the 3rd quarter. GSA Capital Partners LLP now owns 72,647 shares of the company's stock worth $378,000 after buying an additional 60,145 shares in the last quarter. Institutional investors and hedge funds own 16.35% of the company's stock.

Montauk Renewables Stock Down 4.2 %

Shares of NASDAQ:MNTK traded down $0.18 during midday trading on Thursday, reaching $4.09. The company had a trading volume of 112,152 shares, compared to its average volume of 275,099. The stock has a market capitalization of $586.38 million, a P/E ratio of 25.56 and a beta of -0.30. The stock's fifty day moving average price is $4.97 and its 200-day moving average price is $5.05. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 2.04. Montauk Renewables, Inc. has a one year low of $3.38 and a one year high of $9.38.

Analyst Upgrades and Downgrades

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

Montauk Renewables 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.