Montauk Renewables, Inc. (NASDAQ:MNTK) Given Consensus Recommendation of "Reduce" by Analysts

Key Points

• Analysts maintain a cautious view of Montauk Renewables, with a consensus “Reduce” rating based on one sell recommendation and four holds. The average 12-month price target is $1.80.
• MNTK was trading at $1.78, down 2.2%, with a market capitalization of approximately $253 million. Shares have ranged from $1.07 to $2.57 over the past year.
• Institutional investors and hedge funds own 16.35% of the company, with several firms—including Jane Street, JPMorgan Chase, and Rhumbline Advisers—recently increasing their positions.

Montauk Renewables, Inc. (NASDAQ:MNTK - Get Free Report) has been assigned an average recommendation of "Reduce" from the five brokerages that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $1.80.

MNTK has been the topic of a number of recent analyst reports. Zacks Research cut shares of Montauk Renewables from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 14th. Weiss Ratings reiterated a "sell (d)" rating on shares of Montauk Renewables in a research note on Friday, July 17th.

Montauk Renewables Trading Down 2.2%

NASDAQ:MNTK opened at $1.78 on Thursday. The stock has a fifty day moving average price of $1.71 and a two-hundred day moving average price of $1.56. The stock has a market capitalization of $253.37 million, a price-to-earnings ratio of 29.67 and a beta of 0.57. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.62 and a current ratio of 0.62. Montauk Renewables has a 1 year low of $1.07 and a 1 year high of $2.57.

Institutional Investors Weigh In On Montauk Renewables

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC purchased a new position in Montauk Renewables in the 1st quarter valued at approximately $62,000. Jane Street Group LLC grew its holdings in Montauk Renewables by 303.4% in the first quarter. Jane Street Group LLC now owns 100,834 shares of the company's stock valued at $213,000 after purchasing an additional 75,836 shares during the last quarter. Strs Ohio acquired a new stake in Montauk Renewables in the first quarter valued at $84,000. JPMorgan Chase & Co. increased its position in shares of Montauk Renewables by 25.0% in the second 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 in the last quarter. Finally, Rhumbline Advisers increased its position in shares of Montauk Renewables by 12.6% in the second quarter. Rhumbline Advisers now owns 105,881 shares of the company's stock valued at $235,000 after buying an additional 11,820 shares in the last quarter. 16.35% of the stock is currently owned by institutional investors and hedge funds.

About Montauk Renewables

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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