Montauk Renewables (NASDAQ:MNTK) Trading Up 7.2% – Should You Buy?

Shares of Montauk Renewables, Inc. (NASDAQ:MNTK) were up 7.2% on Wednesday . The stock traded as high as $4.35 and last traded at $4.34. Approximately 87,179 shares were traded during trading, a decline of 68% from the average daily volume of 275,343 shares. The stock had previously closed at $4.05.

Analyst Ratings Changes

Separately, Scotiabank reaffirmed a “sector perform” rating and set a $6.00 price target (down previously from $8.00) on shares of Montauk Renewables in a research report on Tuesday, September 3rd.

Montauk Renewables Trading Up 5.4 %

The company has a market capitalization of $612.18 million, a PE ratio of 25.31 and a beta of -0.30. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.04 and a current ratio of 2.04. The business has a fifty day moving average price of $5.01 and a 200 day moving average price of $5.06.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. CWM LLC boosted its position in Montauk Renewables by 1,425.5% during the 2nd quarter. CWM LLC now owns 4,485 shares of the company’s stock valued at $26,000 after purchasing an additional 4,191 shares during the period. Point72 Asia Singapore Pte. Ltd. grew its position in Montauk Renewables by 105.0% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,898 shares of the company’s stock worth $26,000 after purchasing an additional 2,509 shares in the last quarter. Bleakley Financial Group LLC acquired a new stake in Montauk Renewables during the 3rd quarter valued at $73,000. Townsquare Capital LLC purchased a new stake in shares of Montauk Renewables in the third quarter valued at $75,000. Finally, SG Americas Securities LLC acquired a new stake in Montauk Renewables during the 3rd quarter worth about $114,000. 16.35% of the stock is 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.