Point72 Asset Management L.P. Sells 239,599 Shares of Montauk Renewables, Inc. (NASDAQ:MNTK)

Point72 Asset Management L.P. trimmed its position in shares of Montauk Renewables, Inc. (NASDAQ:MNTK - Free Report) by 48.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 256,824 shares of the company's stock after selling 239,599 shares during the period. Point72 Asset Management L.P. owned 0.18% of Montauk Renewables worth $1,464,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MNTK. CWM LLC lifted its stake in shares of Montauk Renewables by 1,425.5% in the 2nd 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 period. Quadrature Capital Ltd acquired a new stake in shares of Montauk Renewables in the 4th quarter worth approximately $99,000. Principal Financial Group Inc. lifted its stake in shares of Montauk Renewables by 8.9% in the 2nd quarter. Principal Financial Group Inc. now owns 25,902 shares of the company's stock worth $148,000 after acquiring an additional 2,107 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Montauk Renewables by 14.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 32,611 shares of the company's stock worth $186,000 after acquiring an additional 4,176 shares during the period. Finally, Squarepoint Ops LLC acquired a new stake in shares of Montauk Renewables in the 2nd quarter worth approximately $217,000. 16.35% of the stock is owned by institutional investors and hedge funds.

Montauk Renewables Price Performance

Shares of NASDAQ MNTK traded up $0.05 during midday trading on Friday, reaching $5.41. The company's stock had a trading volume of 136,465 shares, compared to its average volume of 296,991. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.19. The company has a 50 day moving average price of $4.81 and a 200 day moving average price of $4.77. Montauk Renewables, Inc. has a one year low of $3.38 and a one year high of $10.95. The company has a market cap of $777.41 million, a price-to-earnings ratio of 36.07 and a beta of -0.20.

Montauk Renewables (NASDAQ:MNTK - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.01) earnings per share for the quarter, missing analysts' consensus estimates of $0.06 by ($0.07). The business had revenue of $43.34 million for the quarter, compared to analysts' expectations of $50.63 million. Montauk Renewables had a net margin of 10.22% and a return on equity of 7.52%. During the same quarter in the prior year, the firm posted $0.01 EPS. On average, equities research analysts expect that Montauk Renewables, Inc. will post 0.2 EPS for the current year.

Analysts Set New Price Targets

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

About Montauk Renewables

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.