Montauk Renewables (NASDAQ:MNTK) Shares Up 11.9%

Montauk Renewables, Inc. (NASDAQ:MNTK) rose 11.9% during mid-day trading on Monday . The stock traded as high as $4.89 and last traded at $4.79. Approximately 70,859 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 314,344 shares. The stock had previously closed at $4.28.

Analyst Ratings Changes

Separately, B. Riley cut their price target on Montauk Renewables from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Tuesday, May 7th.

Montauk Renewables Stock Performance

The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.27 and a current ratio of 2.27. The firm has a market cap of $627.96 million, a P/E ratio of 29.13 and a beta of -0.18. The firm has a fifty day moving average of $5.40 and a 200-day moving average of $5.11.

Montauk Renewables (NASDAQ:MNTK) last posted its earnings results on Thursday, August 8th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.07). Montauk Renewables had a net margin of 10.58% and a return on equity of 8.44%. The business had revenue of $43.34 million during the quarter, compared to analyst estimates of $50.63 million. During the same quarter in the prior year, the business earned $0.01 earnings per share. Equities research analysts forecast that Montauk Renewables, Inc. will post 0.25 earnings per share for the current year.

Institutional Trading of Montauk Renewables

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Montauk Renewables by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 3,593,935 shares of the company’s stock valued at $14,951,000 after acquiring an additional 59,375 shares during the period. Dimensional Fund Advisors LP increased its position in Montauk Renewables by 1.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 702,914 shares of the company’s stock valued at $4,007,000 after acquiring an additional 10,711 shares during the period. Jacobs Levy Equity Management Inc. increased its position in Montauk Renewables by 81.0% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 502,682 shares of the company’s stock valued at $2,091,000 after acquiring an additional 224,895 shares during the period. SIR Capital Management L.P. increased its position in shares of Montauk Renewables by 91.2% during the 2nd quarter. SIR Capital Management L.P. now owns 326,074 shares of the company’s stock valued at $1,859,000 after purchasing an additional 155,546 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Montauk Renewables by 3.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 263,278 shares of the company’s stock valued at $1,501,000 after purchasing an additional 7,558 shares during the period. 16.35% of the stock is currently owned by institutional investors and hedge funds.

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.