Montauk Renewables (NASDAQ:MNTK) Raised to Strong-Buy at Zacks Research

Montauk Renewables (NASDAQ:MNTK) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

Several other research analysts have also commented on MNTK. Wall Street Zen raised Montauk Renewables from a “sell” rating to a “hold” rating in a report on Saturday, January 17th. Tudor Pickering raised shares of Montauk Renewables from a “strong sell” rating to a “hold” rating in a research note on Friday, November 7th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Montauk Renewables in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Montauk Renewables has an average rating of “Hold” and an average target price of $3.33.

Montauk Renewables Price Performance

NASDAQ:MNTK traded down $0.15 during trading hours on Tuesday, hitting $1.51. The stock had a trading volume of 608,768 shares, compared to its average volume of 602,418. The company has a 50 day simple moving average of $1.65 and a two-hundred day simple moving average of $1.94. The firm has a market capitalization of $214.10 million, a price-to-earnings ratio of -24.67 and a beta of 0.07. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.33 and a quick ratio of 0.33. Montauk Renewables has a one year low of $1.37 and a one year high of $4.71.

Montauk Renewables (NASDAQ:MNTK) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.04 earnings per share (EPS) for the quarter. Montauk Renewables had a negative return on equity of 3.57% and a negative net margin of 5.72%.The company had revenue of $45.26 million for the quarter, compared to the consensus estimate of $44.28 million. Research analysts forecast that Montauk Renewables will post 0.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Montauk Renewables

A number of large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its position in shares of Montauk Renewables by 174.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 177,855 shares of the company’s stock worth $357,000 after acquiring an additional 113,083 shares in the last quarter. Citadel Advisors LLC raised its holdings in Montauk Renewables by 178.4% in the third quarter. Citadel Advisors LLC now owns 204,707 shares of the company’s stock worth $411,000 after purchasing an additional 131,164 shares in the last quarter. Alliancebernstein L.P. raised its holdings in Montauk Renewables by 6.9% in the third quarter. Alliancebernstein L.P. now owns 97,520 shares of the company’s stock worth $196,000 after purchasing an additional 6,300 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Montauk Renewables during the 3rd quarter valued at $28,000. Finally, Two Sigma Investments LP purchased a new stake in shares of Montauk Renewables in the 3rd quarter worth about $34,000. Institutional investors own 16.35% of the company’s stock.

About Montauk Renewables

Montauk Renewables Holdings, Inc is a renewable energy company headquartered in Irving, Texas, specializing in the capture and conversion of landfill gas into clean energy products. The company’s core operations focus on the design, development and operation of landfill gas collection systems that extract methane and other biogases generated by municipal solid waste. Montauk processes this gas into renewable natural gas (RNG) suitable for pipeline injection and also generates electricity for sale to utilities and commercial consumers.

Through its subsidiaries, Montauk provides a suite of environmental and waste‐management services across the United States and Canada.