Montauk Renewables, Inc. (NASDAQ:MNTK) Stock Rated "Hold" by Wall Street Brokerages

Key Points

• Montauk Renewables has a consensus “Hold” rating from five brokerages: three holds, one sell and one strong buy. The average 12-month price target is $1.80, below the stock’s reported $2.12 opening price.
• Institutional ownership stands at 16.35%, with BlackRock making the largest recent investment at approximately $7.35 million.
• MNTK shares have traded between $1.07 and $3.28 over the past year, while the company continues developing landfill-gas projects that produce renewable natural gas and electricity.

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

A number of equities analysts recently commented on the company. Zacks Research upgraded Montauk Renewables from a "hold" rating to a "strong-buy" rating in a report on Tuesday, September 1st. Weiss Ratings upgraded Montauk Renewables from a "sell (d)" rating to a "sell (d+)" rating in a research report on Thursday, September 24th.

Institutional Investors Weigh In On Montauk Renewables

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

Montauk Renewables Stock Performance

Shares of Montauk Renewables stock opened at $2.12 on Friday. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.57. Montauk Renewables has a 12 month low of $1.07 and a 12 month high of $3.28. The business has a fifty day simple moving average of $2.25 and a 200-day simple moving average of $1.79. The stock has a market cap of $301.76 million, a PE ratio of 35.34 and a beta of 0.66.

Montauk Renewables Company Profile

Montauk Renewables, Inc is a renewable energy company focused on recovering energy from landfill gas and other biogas sources. The company develops, owns and operates facilities that capture methane produced by landfills and convert it into renewable natural gas (RNG) and renewable electricity.

Montauk's RNG operations process biogas into pipeline-quality natural gas that can be used as a transportation fuel or delivered through natural gas infrastructure. The company also generates electricity from landfill gas and may benefit from environmental attributes associated with renewable energy, including renewable identification numbers and other credits.

Founded in 1988, Montauk Renewables operates projects primarily in the United States.

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