Montauk Renewables (NASDAQ:MNTK) Stock Rating Cut to "Hold" at Zacks Research

Key Points

• Zacks Research downgraded Montauk Renewables from “strong buy” to “hold.” Weiss Ratings also made a modest upgrade, from “sell (D)” to “sell (D+).”
• Analyst sentiment remains cautious: four analysts rate the stock Hold and one rates it Sell, giving it a MarketBeat average rating of “Reduce” and an average price target of $1.80.
• MNTK opened at $2.48, above its 50-day and 200-day moving averages of $2.34 and $1.75, respectively. Institutional investors and hedge funds own 16.35% of shares.

Montauk Renewables (NASDAQ:MNTK - Get Free Report) was downgraded by research analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research note issued to investors on Monday, Zacks reports.

Separately, Weiss Ratings raised Montauk Renewables from a "sell (d)" rating to a "sell (d+)" rating in a report on Thursday, September 24th. Four analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Montauk Renewables has an average rating of "Reduce" and an average price target of $1.80.

Montauk Renewables Price Performance

Shares of NASDAQ:MNTK opened at $2.48 on Monday. The company has a 50-day simple moving average of $2.34 and a 200-day simple moving average of $1.75. Montauk Renewables has a one year low of $1.07 and a one year high of $3.28. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.62 and a current ratio of 0.62. The stock has a market capitalization of $353.00 million, a price-to-earnings ratio of 41.34 and a beta of 0.70.

Hedge Funds Weigh In On Montauk Renewables

Several institutional investors have recently bought and sold shares of the company. Ieq Capital LLC acquired a new position in shares of Montauk Renewables during the second quarter worth about $52,000. Bank of America Corp DE acquired a new stake in Montauk Renewables in the second quarter valued at about $70,000. Deutsche Bank AG acquired a new stake in Montauk Renewables in the second quarter valued at about $76,000. J. Derek Lewis & Associates Inc. purchased a new stake in Montauk Renewables in the 1st quarter valued at approximately $98,000. Finally, Rathbones Group PLC boosted its holdings in Montauk Renewables by 10.9% in the 1st quarter. Rathbones Group PLC now owns 102,000 shares of the company's stock valued at $117,000 after purchasing an additional 10,000 shares in the last quarter. 16.35% of the stock is owned by institutional investors and hedge funds.

About Montauk Renewables

Montauk Renewables, Inc is a renewable energy company that develops, owns and operates projects that capture methane from landfills and other organic waste sources. The company converts this biogas into renewable natural gas (RNG), which can be used as a lower-carbon transportation fuel or delivered into natural gas pipelines.

In addition to RNG production, Montauk Renewables generates renewable electricity from landfill gas at certain facilities. Its activities may also generate environmental attributes, including renewable identification numbers and other credits associated with the use of renewable fuels.

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