Montauk Renewables (NASDAQ:MNTK) Downgraded by Zacks Research to Hold

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

Separately, Weiss Ratings raised Montauk Renewables from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, September 24th. Four equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $1.80.

Montauk Renewables Trading Up 2.9%

Shares of MNTK opened at $2.48 on Monday. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.57. The firm’s 50-day moving average is $2.34 and its two-hundred day moving average is $1.75. Montauk Renewables has a twelve month low of $1.07 and a twelve month high of $3.28. The firm has a market capitalization of $353.00 million, a P/E ratio of 41.34 and a beta of 0.70.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp acquired a new position in shares of Montauk Renewables during the 2nd quarter worth $306,000. BlackRock Inc. acquired a new stake in Montauk Renewables in the 2nd quarter valued at about $7,347,000. Bank of America Corp DE acquired a new stake in Montauk Renewables in the 2nd quarter valued at about $70,000. Ieq Capital LLC acquired a new stake in Montauk Renewables in the 2nd quarter valued at about $52,000. Finally, Deutsche Bank AG purchased a new position in Montauk Renewables during the 2nd quarter valued at about $76,000. Institutional investors and hedge funds own 16.35% of the company’s stock.

Montauk Renewables Company Profile

Montauk Renewables, Inc is a renewable energy company that develops, owns and operates projects that capture methane from landfills and other organic waste sources. The company converts this biogas into renewable natural gas (RNG), which can be used as a lower-carbon transportation fuel or delivered into natural gas pipelines.

In addition to RNG production, Montauk Renewables generates renewable electricity from landfill gas at certain facilities. Its activities may also generate environmental attributes, including renewable identification numbers and other credits associated with the use of renewable fuels.