Montauk Renewables (NASDAQ:MNTK) Reaches New 52-Week Low at $3.52

Montauk Renewables, Inc. (NASDAQ:MNTK) hit a new 52-week low during trading on Wednesday . The stock traded as low as $3.52 and last traded at $3.52, with a volume of 69215 shares changing hands. The stock had previously closed at $3.61.

Wall Street Analysts Forecast Growth

MNTK has been the subject of several recent research reports. TheStreet cut Montauk Renewables from a “c-” rating to a “d+” rating in a research note on Wednesday, March 6th. Scotiabank reduced their target price on Montauk Renewables from $9.00 to $8.00 and set a “sector outperform” rating for the company in a report on Thursday, April 11th. Finally, B. Riley reduced their target price on Montauk Renewables from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Thursday, March 7th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $8.00.

Montauk Renewables Trading Down 0.6 %

The company has a market capitalization of $515.88 million, a price-to-earnings ratio of 32.78 and a beta of -0.49. The business has a fifty day moving average price of $5.05 and a 200 day moving average price of $7.52. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.07 and a quick ratio of 3.07.

Montauk Renewables (NASDAQ:MNTK) last issued its quarterly earnings results on Thursday, March 14th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). Montauk Renewables had a return on equity of 6.32% and a net margin of 8.55%. The business had revenue of $46.81 million for the quarter, compared to analyst estimates of $52.86 million. On average, equities analysts expect that Montauk Renewables, Inc. will post 0.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MNTK. State Street Corp lifted its stake in shares of Montauk Renewables by 185.2% during the second quarter. State Street Corp now owns 1,606,609 shares of the company’s stock valued at $16,146,000 after acquiring an additional 1,043,323 shares during the period. Northern Trust Corp lifted its stake in shares of Montauk Renewables by 437.1% during the second quarter. Northern Trust Corp now owns 583,443 shares of the company’s stock valued at $5,864,000 after acquiring an additional 474,806 shares during the period. Millennium Management LLC lifted its stake in shares of Montauk Renewables by 117.0% during the fourth quarter. Millennium Management LLC now owns 797,303 shares of the company’s stock valued at $8,794,000 after acquiring an additional 429,809 shares during the period. Susquehanna International Group LLP lifted its stake in shares of Montauk Renewables by 497.0% during the first quarter. Susquehanna International Group LLP now owns 375,075 shares of the company’s stock valued at $2,952,000 after acquiring an additional 312,249 shares during the period. Finally, Amundi acquired a new position in shares of Montauk Renewables during the fourth quarter valued at $2,965,000. 16.35% of the stock is currently owned by institutional investors and hedge funds.

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.