Montauk Renewables, Inc. (NASDAQ:MNTK) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• Analyst consensus is “Hold”: Of five analysts covering Montauk Renewables, three rate it a hold, one a sell, and one a strong buy. The average 12-month price target is $1.80.
• Shares are trading above the consensus target: MNTK opened at $2.25, compared with a 50-day moving average of $1.92 and a 200-day average of $1.62; its 52-week range is $1.07 to $2.73.
• Institutional ownership expanded: BlackRock and several other institutions initiated positions during the second quarter, with institutional investors collectively owning 16.35% of the company.

Shares of Montauk Renewables, Inc. (NASDAQ:MNTK - Get Free Report) have been assigned an average rating of "Hold" from the five research firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $1.80.

Several research analysts recently commented on MNTK shares. Zacks Research raised shares of Montauk Renewables from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, September 1st. Weiss Ratings reissued a "sell (d)" rating on shares of Montauk Renewables in a research report on Friday, July 17th.

Montauk Renewables Price Performance

MNTK opened at $2.25 on Monday. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.62 and a quick ratio of 0.62. The stock's 50 day simple moving average is $1.92 and its 200 day simple moving average is $1.62. The firm has a market cap of $320.26 million, a price-to-earnings ratio of 37.51 and a beta of 0.54. Montauk Renewables has a 1 year low of $1.07 and a 1 year high of $2.73.

Institutional Trading of Montauk Renewables

Institutional investors have recently modified their holdings of the company. BlackRock Inc. purchased a new position in Montauk Renewables during the 2nd quarter valued at about $7,347,000. Bank of New York Mellon Corp purchased a new stake in Montauk Renewables in the 2nd quarter worth approximately $306,000. Bank of America Corp DE bought a new stake in shares of Montauk Renewables in the 2nd quarter worth approximately $70,000. Deutsche Bank AG bought a new stake in shares of Montauk Renewables in the 2nd quarter worth approximately $76,000. Finally, Ieq Capital LLC bought a new stake in shares of Montauk Renewables in the 2nd quarter worth approximately $52,000. 16.35% of the stock is currently owned by hedge funds and other institutional investors.

About Montauk Renewables

Montauk Renewables, Inc is a renewable energy company focused on capturing methane from landfills and other organic waste sources and converting it into useful energy. Its primary products include renewable natural gas (RNG), pipeline-quality gas produced by upgrading biogas, and renewable electricity generated at certain project sites.

The company develops, owns, and operates renewable energy projects in the United States. In addition to energy sales, Montauk Renewables generates environmental attributes associated with its projects, including renewable identification numbers, low-carbon fuel credits, and renewable energy credits.

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