Montauk Renewables (NASDAQ:MNTK) Price Target Lowered to $4.00 at Scotiabank

Montauk Renewables (NASDAQ:MNTK) had its target price trimmed by Scotiabank from $6.00 to $4.00 in a report published on Friday morning,Benzinga reports. The firm currently has a sector perform rating on the stock.

Several other brokerages have also recently issued reports on MNTK. UBS Group dropped their target price on shares of Montauk Renewables from $6.25 to $3.00 and set a “neutral” rating on the stock in a report on Friday, March 14th. B. Riley dropped their target price on Montauk Renewables from $4.00 to $3.00 and set a “neutral” rating on the stock in a research note on Friday, March 14th.

Montauk Renewables Trading Down 1.9 %

Shares of MNTK opened at $2.08 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 2.04. The firm has a market capitalization of $296.26 million, a price-to-earnings ratio of 13.00 and a beta of 0.05. The company has a 50-day moving average of $3.03 and a 200 day moving average of $4.09. Montauk Renewables has a 1-year low of $1.75 and a 1-year high of $6.22.

Montauk Renewables (NASDAQ:MNTK) last posted its quarterly earnings results on Thursday, March 13th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.11). Montauk Renewables had a net margin of 11.80% and a return on equity of 8.88%. The company had revenue of $27.74 million for the quarter, compared to the consensus estimate of $59.92 million. On average, research analysts expect that Montauk Renewables will post 0.19 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Rhumbline Advisers boosted its holdings in Montauk Renewables by 3.8% in the fourth quarter. Rhumbline Advisers now owns 90,439 shares of the company’s stock valued at $360,000 after purchasing an additional 3,285 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Montauk Renewables by 7.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 48,712 shares of the company’s stock worth $194,000 after buying an additional 3,434 shares during the last quarter. Verition Fund Management LLC grew its holdings in Montauk Renewables by 12.4% during the third quarter. Verition Fund Management LLC now owns 44,739 shares of the company’s stock worth $233,000 after acquiring an additional 4,947 shares during the period. ProShare Advisors LLC raised its position in Montauk Renewables by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 18,588 shares of the company’s stock valued at $74,000 after acquiring an additional 6,117 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in Montauk Renewables in the fourth quarter valued at approximately $25,000. Hedge funds and other institutional investors own 16.35% of the company’s stock.

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.