Montauk Renewables (NASDAQ:MNTK) to Repurchase $5.00 million in Outstanding Stock

Montauk Renewables (NASDAQ:MNTK - Get Free Report) declared that its board has initiated a share repurchase plan on Tuesday, April 15th, RTT News reports. The company plans to repurchase $5.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 1.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its shares are undervalued.

Wall Street Analyst Weigh In

MNTK has been the topic of several research analyst reports. UBS Group reduced their target price on Montauk Renewables from $6.25 to $3.00 and set a "neutral" rating on the stock in a research note on Friday, March 14th. Scotiabank dropped their target price on shares of Montauk Renewables from $6.00 to $4.00 and set a "sector perform" rating for the company in a research report on Friday, April 11th. Finally, B. Riley cut their target price on shares of Montauk Renewables from $4.00 to $3.00 and set a "neutral" rating on the stock in a research note on Friday, March 14th.

Montauk Renewables Stock Down 1.9 %

Shares of NASDAQ MNTK traded down $0.04 during mid-day trading on Friday, hitting $2.05. 239,019 shares of the stock traded hands, compared to its average volume of 218,940. 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 stock has a fifty day moving average price of $2.81 and a 200-day moving average price of $3.99. The company has a market cap of $293.84 million, a price-to-earnings ratio of 12.81 and a beta of 0.05. Montauk Renewables has a 52 week low of $1.75 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) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.11). Montauk Renewables had a net margin of 11.80% and a return on equity of 8.88%. The business had revenue of $27.74 million for the quarter, compared to analysts' expectations of $59.92 million. Research analysts anticipate that Montauk Renewables will post 0.19 EPS for the current year.

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.