Montauk Renewables, Inc. (NASDAQ:MNTK) Sees Large Growth in Short Interest

Montauk Renewables, Inc. (NASDAQ:MNTK) saw a large increase in short interest in March. As of March 13th, there was short interest totaling 1,789,286 shares, an increase of 21.1% from the February 26th total of 1,477,625 shares. Currently, 2.8% of the company’s stock are short sold. Based on an average trading volume of 307,956 shares, the days-to-cover ratio is presently 5.8 days.

Montauk Renewables Stock Performance

Shares of MNTK opened at $1.19 on Tuesday. The company has a market cap of $169.38 million, a price-to-earnings ratio of 59.53 and a beta of 0.05. The business’s fifty day simple moving average is $1.51 and its two-hundred day simple moving average is $1.75. Montauk Renewables has a 12 month low of $1.07 and a 12 month high of $2.78. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.48.

Montauk Renewables (NASDAQ:MNTK) last announced its quarterly earnings results on Wednesday, March 11th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.04). Montauk Renewables had a net margin of 0.15% and a return on equity of 0.10%. The business had revenue of $43.39 million for the quarter, compared to the consensus estimate of $44.39 million. Research analysts anticipate that Montauk Renewables will post 0.19 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MNTK has been the subject of several recent research reports. Zacks Research lowered shares of Montauk Renewables from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 17th. Weiss Ratings reissued a “sell (d)” rating on shares of Montauk Renewables in a research note on Thursday, January 22nd. Finally, Wall Street Zen upgraded Montauk Renewables from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Three research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Montauk Renewables has a consensus rating of “Reduce” and a consensus target price of $4.00.

Institutional Trading of Montauk Renewables

Large investors have recently made changes to their positions in the stock. Rhumbline Advisers lifted its position in Montauk Renewables by 12.6% during the second quarter. Rhumbline Advisers now owns 105,881 shares of the company’s stock valued at $235,000 after purchasing an additional 11,820 shares during the period. Jane Street Group LLC raised its stake in Montauk Renewables by 32.9% during the 4th quarter. Jane Street Group LLC now owns 130,687 shares of the company’s stock valued at $229,000 after buying an additional 32,364 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Montauk Renewables by 25.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 64,772 shares of the company’s stock valued at $144,000 after buying an additional 12,974 shares during the last quarter. Marshall Wace LLP lifted its holdings in shares of Montauk Renewables by 158.8% during the 2nd quarter. Marshall Wace LLP now owns 56,901 shares of the company’s stock valued at $126,000 after buying an additional 34,914 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in shares of Montauk Renewables by 51.9% in the 4th quarter. Wells Fargo & Company MN now owns 75,049 shares of the company’s stock worth $125,000 after buying an additional 25,645 shares during the last quarter. 16.35% of the stock is currently owned by institutional investors.

Montauk Renewables Company Profile

Montauk Renewables Holdings, Inc is a renewable energy company headquartered in Irving, Texas, specializing in the capture and conversion of landfill gas into clean energy products. The company’s core operations focus on the design, development and operation of landfill gas collection systems that extract methane and other biogases generated by municipal solid waste. Montauk processes this gas into renewable natural gas (RNG) suitable for pipeline injection and also generates electricity for sale to utilities and commercial consumers.

Through its subsidiaries, Montauk provides a suite of environmental and waste‐management services across the United States and Canada.