Montauk Renewables, Inc. (NASDAQ:MNTK) saw a significant growth in short interest in the month of September. As of September 30th, there was short interest totalling 912,200 shares, a growth of 174.6% from the September 15th total of 332,200 shares. Currently, 6.2% of the shares of the stock are short sold. Based on an average trading volume of 189,600 shares, the short-interest ratio is currently 4.8 days.
Separately, Zacks Investment Research upgraded Montauk Renewables from a “sell” rating to a “hold” rating in a report on Wednesday, July 21st.
Large investors have recently bought and sold shares of the stock. Morgan Stanley purchased a new stake in shares of Montauk Renewables in the first quarter valued at about $51,000. JPMorgan Chase & Co. purchased a new stake in shares of Montauk Renewables in the first quarter worth about $66,000. Jane Street Group LLC purchased a new position in shares of Montauk Renewables in the first quarter valued at $117,000. Renaissance Technologies LLC purchased a new stake in Montauk Renewables during the 2nd quarter worth $174,000. Finally, Bank of America Corp DE lifted its holdings in Montauk Renewables by 449.7% in the 2nd quarter. Bank of America Corp DE now owns 28,342 shares of the company’s stock worth $217,000 after buying an additional 23,186 shares in the last quarter. Hedge funds and other institutional investors own 1.97% of the company’s stock.
Montauk Renewables (NASDAQ:MNTK) last released its quarterly earnings data on Monday, August 16th. The company reported ($0.03) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.05). The business had revenue of $31.67 million during the quarter, compared to the consensus estimate of $30.50 million.
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. The company develops, owns, and operates renewable natural gas (RNG) projects that capture methane and prevents it from being released into the atmosphere by converting it into either RNG or electrical power for the electrical grid.
Further Reading: Cash Asset Ratio
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