Scotiabank Reiterates Sector Perform Rating for Montauk Renewables (NASDAQ:MNTK)

Montauk Renewables (NASDAQ:MNTK)‘s stock had its “sector perform” rating restated by stock analysts at Scotiabank in a report issued on Tuesday, StockNewsAPI reports. They presently have a $6.00 target price on the stock, down from their previous target price of $8.00. Scotiabank’s price objective would suggest a potential upside of 27.93% from the company’s previous close.

Separately, B. Riley cut their price objective on shares of Montauk Renewables from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Tuesday, May 7th.

Montauk Renewables Price Performance

Shares of NASDAQ:MNTK opened at $4.69 on Tuesday. The company’s fifty day moving average price is $5.18 and its 200-day moving average price is $4.89. The firm has a market capitalization of $673.94 million, a price-to-earnings ratio of 31.27 and a beta of -0.18. Montauk Renewables has a one year low of $3.38 and a one year high of $10.95. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.66 and a quick ratio of 1.66.

Montauk Renewables (NASDAQ:MNTK) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.07). Montauk Renewables had a net margin of 10.22% and a return on equity of 7.52%. The business had revenue of $43.34 million during the quarter, compared to analysts’ expectations of $50.63 million. During the same period last year, the company posted $0.01 EPS. On average, equities research analysts anticipate that Montauk Renewables will post 0.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Montauk Renewables

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