Montauk Renewables (NASDAQ:MNTK) Price Target Cut to $6.00 by Analysts at B. Riley

Montauk Renewables (NASDAQ:MNTK) had its price objective dropped by B. Riley from $7.00 to $6.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. B. Riley’s price target would indicate a potential upside of 45.63% from the stock’s previous close.

Several other equities research analysts have also recently commented on MNTK. TheStreet cut shares of Montauk Renewables from a “c-” rating to a “d+” rating in a research report on Wednesday, March 6th. Scotiabank lowered their price target on shares of Montauk Renewables from $9.00 to $8.00 and set a “sector outperform” rating for the company in a research report on Thursday, April 11th. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $7.75.

Montauk Renewables Trading Up 4.8 %

Shares of NASDAQ:MNTK traded up $0.19 on Tuesday, hitting $4.12. The company had a trading volume of 149,124 shares, compared to its average volume of 357,899. The firm’s 50-day simple moving average is $4.34 and its two-hundred day simple moving average is $6.98. Montauk Renewables has a 1 year low of $3.38 and a 1 year high of $10.95. The company has a quick ratio of 3.07, a current ratio of 3.07 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $591.71 million, a price-to-earnings ratio of 37.28 and a beta of -0.40.

Montauk Renewables (NASDAQ:MNTK) last posted its earnings results on Thursday, March 14th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.02). Montauk Renewables had a return on equity of 6.32% and a net margin of 8.55%. The company had revenue of $46.81 million during the quarter, compared to analysts’ expectations of $52.86 million. Equities analysts anticipate that Montauk Renewables will post 0.29 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. SG Americas Securities LLC bought a new stake in Montauk Renewables during the 3rd quarter valued at about $219,000. Bank of New York Mellon Corp increased its stake in Montauk Renewables by 0.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 263,144 shares of the company’s stock valued at $2,397,000 after purchasing an additional 1,475 shares in the last quarter. Strs Ohio bought a new stake in Montauk Renewables during the 3rd quarter valued at about $144,000. CHICAGO TRUST Co NA increased its stake in Montauk Renewables by 12.5% during the 3rd quarter. CHICAGO TRUST Co NA now owns 20,350 shares of the company’s stock valued at $185,000 after purchasing an additional 2,255 shares in the last quarter. Finally, Orion Portfolio Solutions LLC bought a new stake in Montauk Renewables during the 3rd quarter valued at about $99,000. 16.35% of the stock is owned by hedge funds and other institutional investors.

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.