B. Riley Expects Reduced Earnings for Montauk Renewables

Montauk Renewables, Inc. (NASDAQ:MNTK) – Research analysts at B. Riley lowered their FY2024 earnings per share (EPS) estimates for Montauk Renewables in a note issued to investors on Thursday, February 27th. B. Riley analyst R. Pfingst now expects that the company will post earnings per share of $0.18 for the year, down from their prior forecast of $0.21. The consensus estimate for Montauk Renewables’ current full-year earnings is $0.19 per share.

Montauk Renewables Price Performance

Shares of MNTK opened at $3.82 on Friday. The business has a 50-day moving average of $4.23 and a 200-day moving average of $4.58. Montauk Renewables has a 1 year low of $3.38 and a 1 year high of $6.22. The company has a market capitalization of $547.67 million, a price-to-earnings ratio of 23.88 and a beta of -0.25. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 2.04.

Institutional Investors Weigh In On Montauk Renewables

Several large investors have recently added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. grew its stake in Montauk Renewables by 105.0% during the third 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 during the period. Rhumbline Advisers grew its stake in Montauk Renewables by 3.8% during the fourth quarter. Rhumbline Advisers now owns 90,439 shares of the company’s stock worth $360,000 after purchasing an additional 3,285 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Montauk Renewables by 7.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 48,712 shares of the company’s stock worth $194,000 after purchasing an additional 3,434 shares during the period. Verition Fund Management LLC grew its stake 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 purchasing an additional 4,947 shares during the period. Finally, ProShare Advisors LLC grew its stake in Montauk Renewables by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 18,588 shares of the company’s stock worth $74,000 after purchasing an additional 6,117 shares during the period. Institutional investors and hedge funds 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.