Montauk Renewables (NASDAQ:MNTK) Shares Up 9.2% – Still a Buy?

Montauk Renewables, Inc. (NASDAQ:MNTK)’s share price was up 9.2% during trading on Friday . The stock traded as high as $4.74 and last traded at $4.74. Approximately 123,357 shares were traded during trading, a decline of 43% from the average daily volume of 214,782 shares. The stock had previously closed at $4.34.

Montauk Renewables Price Performance

The firm has a market capitalization of $688.17 million, a P/E ratio of 30.00 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 50 day simple moving average of $4.47 and a two-hundred day simple moving average of $4.91.

Hedge Funds Weigh In On Montauk Renewables

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of 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 acquiring an additional 2,509 shares during the last quarter. Bleakley Financial Group LLC bought a new stake in Montauk Renewables during the third quarter worth about $73,000. Townsquare Capital LLC purchased a new position in shares of Montauk Renewables in the 3rd quarter worth about $75,000. SG Americas Securities LLC bought a new position in shares of Montauk Renewables during the 3rd quarter valued at about $114,000. Finally, Principal Financial Group Inc. raised its holdings in shares of Montauk Renewables by 8.9% during the 2nd 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 in the last quarter. Hedge funds and other institutional investors own 16.35% of the company’s stock.

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.