Montauk Renewables (NASDAQ:MNTK) Posts Earnings Results

Montauk Renewables (NASDAQ:MNTK) released its earnings results on Tuesday. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.04, reports. Montauk Renewables had a net margin of 11.80% and a return on equity of 9.07%. The business had revenue of $65.92 million during the quarter, compared to the consensus estimate of $61.27 million. Montauk Renewables updated its FY 2024 guidance to EPS.

Montauk Renewables Stock Down 20.8 %

Shares of NASDAQ:MNTK opened at $4.11 on Thursday. Montauk Renewables has a 52-week low of $3.38 and a 52-week high of $9.75. The business’s 50 day simple moving average is $5.22 and its two-hundred day simple moving average is $5.09. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.66 and a current ratio of 1.66. The firm has a market cap of $590.24 million, a P/E ratio of 25.69 and a beta of -0.21.

Institutional Trading of Montauk Renewables

A number of hedge funds and other institutional investors have recently bought and sold shares of MNTK. CWM LLC boosted its holdings in Montauk Renewables by 1,425.5% during the second quarter. CWM LLC now owns 4,485 shares of the company’s stock worth $26,000 after purchasing an additional 4,191 shares during the last quarter. Bleakley Financial Group LLC bought a new stake in shares of Montauk Renewables in the third quarter valued at approximately $73,000. Townsquare Capital LLC purchased a new stake in shares of Montauk Renewables during the 3rd quarter valued at approximately $75,000. SG Americas Securities LLC bought a new position in shares of Montauk Renewables in the third quarter worth $114,000. Finally, Principal Financial Group Inc. increased its position in shares of Montauk Renewables by 8.9% during the second quarter. Principal Financial Group Inc. now owns 25,902 shares of the company’s stock valued at $148,000 after buying an additional 2,107 shares during the period. Institutional investors own 16.35% of the company’s stock.

Analyst Ratings Changes

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

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. 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.