Montauk Renewables (NASDAQ:MNTK) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded Montauk Renewables from “hold” to “strong buy,” while Weiss Ratings maintained a “sell” rating. Overall, analysts rate the stock “Hold,” with an average price target of $1.80.
• MNTK shares rose 21.0% and opened at $2.13, compared with a 52-week range of $1.07 to $2.57. The company has a market capitalization of approximately $303 million.
• Institutional investors own 16.35% of Montauk Renewables, with several firms recently adding positions. The company specializes in converting landfill gas into renewable natural gas and electricity.

Montauk Renewables (NASDAQ:MNTK - Get Free Report) was upgraded by Zacks Research from a "hold" rating to a "strong-buy" rating in a report released on Tuesday, Zacks reports.

Separately, Weiss Ratings restated a "sell (d)" rating on shares of Montauk Renewables in a research note on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $1.80.

Montauk Renewables Trading Up 21.0%

MNTK stock opened at $2.13 on Tuesday. The business has a fifty day moving average price of $1.74 and a 200 day moving average price of $1.56. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.62 and a quick ratio of 0.62. Montauk Renewables has a fifty-two week low of $1.07 and a fifty-two week high of $2.57. The stock has a market capitalization of $303.18 million, a price-to-earnings ratio of 35.51 and a beta of 0.54.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MNTK. BNP Paribas Financial Markets boosted its position in Montauk Renewables by 92.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 13,175 shares of the company's stock valued at $26,000 after buying an additional 6,323 shares during the last quarter. Virtu Financial LLC bought a new position in Montauk Renewables in the third quarter valued at about $28,000. Two Sigma Investments LP acquired a new stake in Montauk Renewables in the third quarter worth about $34,000. Corient Private Wealth LLC acquired a new stake in Montauk Renewables in the second quarter worth about $36,000. Finally, HRT Financial LP bought a new stake in Montauk Renewables during the 4th quarter worth about $44,000. Institutional investors own 16.35% of the company's stock.

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.

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