Montauk Renewables (NASDAQ:MNTK) Price Target Cut to $3.00 by Analysts at B. Riley

Montauk Renewables (NASDAQ:MNTK - Free Report) had its price target lowered by B. Riley from $4.00 to $3.00 in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

Montauk Renewables Stock Down 6.8 %

Shares of Montauk Renewables stock traded down $0.15 on Friday, hitting $2.07. 463,960 shares of the company's stock traded hands, compared to its average volume of 232,074. The stock has a market cap of $296.77 million, a P/E ratio of 12.94 and a beta of -0.20. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.17. The firm's 50-day moving average is $3.94 and its 200 day moving average is $4.45. Montauk Renewables has a 52-week low of $2.01 and a 52-week high of $6.22.

Montauk Renewables (NASDAQ:MNTK - Get Free Report) last released its earnings results on Thursday, March 13th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.11). The business had revenue of $27.74 million for the quarter, compared to analysts' expectations of $59.92 million. Montauk Renewables had a net margin of 11.80% and a return on equity of 8.88%. Equities analysts anticipate that Montauk Renewables will post 0.19 earnings per share for the current year.

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Hedge Funds Weigh In On Montauk Renewables

Several large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its stake in Montauk Renewables by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 1,645,924 shares of the company's stock worth $6,552,000 after purchasing an additional 9,556 shares during the last quarter. State Street Corp lifted its stake in Montauk Renewables by 1.6% during the third quarter. State Street Corp now owns 1,613,351 shares of the company's stock worth $8,406,000 after purchasing an additional 25,732 shares during the last quarter. American Century Companies Inc. lifted its stake in Montauk Renewables by 100.1% during the fourth quarter. American Century Companies Inc. now owns 992,089 shares of the company's stock worth $3,949,000 after purchasing an additional 496,231 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Montauk Renewables by 5.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 851,345 shares of the company's stock worth $3,389,000 after purchasing an additional 46,558 shares during the last quarter. Finally, Hosking Partners LLP lifted its stake in Montauk Renewables by 3.9% during the fourth quarter. Hosking Partners LLP now owns 769,112 shares of the company's stock worth $3,061,000 after purchasing an additional 29,125 shares during the last quarter. 16.35% of the stock is currently owned by 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.