Montauk Renewables (NASDAQ:MNTK) Authorizes Stock Repurchase Plan

Montauk Renewables (NASDAQ:MNTK) declared that its board has authorized a stock repurchase plan on Tuesday, April 15th, RTT News reports. The company plans to repurchase $5.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 1.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Montauk Renewables Price Performance

NASDAQ:MNTK opened at $2.05 on Friday. Montauk Renewables has a one year low of $1.75 and a one year high of $6.22. The stock has a market cap of $293.84 million, a PE ratio of 12.81 and a beta of 0.05. 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 stock has a 50 day moving average price of $2.85 and a 200 day moving average price of $4.01.

Montauk Renewables (NASDAQ:MNTK) last issued its earnings results on Thursday, March 13th. The company reported ($0.06) earnings per share (EPS) 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 during the quarter, compared to analysts’ expectations of $59.92 million. Equities research analysts expect that Montauk Renewables will post 0.19 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. B. Riley dropped their price target on Montauk Renewables from $4.00 to $3.00 and set a “neutral” rating for the company in a research report on Friday, March 14th. UBS Group dropped their target price on shares of Montauk Renewables from $6.25 to $3.00 and set a “neutral” rating for the company in a report on Friday, March 14th. Finally, Scotiabank decreased their price target on shares of Montauk Renewables from $6.00 to $4.00 and set a “sector perform” rating on the stock in a research note on Friday, April 11th.

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.