171,759 Shares in Montauk Renewables, Inc. $MNTK Bought by Nuveen LLC

Key Points

• Nuveen LLC has acquired 171,759 shares of Montauk Renewables, valued at approximately $359,000, marking a new position for the firm in the company.
• Institutional investors collectively own 16.35% of Montauk Renewables, with several firms increasing their stakes significantly in recent quarters.
• Montauk Renewables received a downgrade from Wall Street Zen, lowering its rating from "hold" to "sell," while the company currently has a consensus price target of $3.33.

Nuveen LLC acquired a new position in shares of Montauk Renewables, Inc. (NASDAQ:MNTK - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 171,759 shares of the company's stock, valued at approximately $359,000. Nuveen LLC owned 0.12% of Montauk Renewables as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its stake in Montauk Renewables by 7.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 48,712 shares of the company's stock valued at $194,000 after buying an additional 3,434 shares during the last quarter. ProShare Advisors LLC increased its stake in Montauk Renewables by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 18,588 shares of the company's stock valued at $74,000 after buying an additional 6,117 shares during the last quarter. Allianz Asset Management GmbH increased its stake in Montauk Renewables by 61.1% in the 1st quarter. Allianz Asset Management GmbH now owns 17,400 shares of the company's stock valued at $36,000 after buying an additional 6,600 shares during the last quarter. Wells Fargo & Company MN increased its stake in Montauk Renewables by 51.4% in the 4th quarter. Wells Fargo & Company MN now owns 30,840 shares of the company's stock valued at $123,000 after buying an additional 10,472 shares during the last quarter. Finally, Swiss National Bank increased its stake in Montauk Renewables by 13.4% in the 1st quarter. Swiss National Bank now owns 96,361 shares of the company's stock valued at $201,000 after buying an additional 11,384 shares during the last quarter. 16.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered shares of Montauk Renewables from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Three analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $3.33.

Montauk Renewables Stock Performance

MNTK opened at $2.07 on Friday. Montauk Renewables, Inc. has a 12-month low of $1.68 and a 12-month high of $6.04. The stock has a market cap of $294.48 million, a price-to-earnings ratio of 103.50 and a beta of 0.07. The business has a 50 day moving average of $2.18 and a 200-day moving average of $2.30. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.23.

Montauk Renewables (NASDAQ:MNTK - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.01 by ($0.05). Montauk Renewables had a net margin of 1.46% and a return on equity of 1.01%. The business had revenue of $45.13 million during the quarter, compared to analyst estimates of $42.73 million. On average, equities research analysts expect that Montauk Renewables, Inc. will post 0.19 earnings per share for the current year.

About Montauk Renewables

Montauk Renewables, Inc, a renewable energy company, engages in recovery and processing of biogas from landfills and other non-fossil fuel sources. It operates in two segments, Renewable Natural Gas and Renewable Electricity Generation. The company develops, owns, and operates renewable natural gas (RNG) projects that captures methane and prevents it from being released into the atmosphere by converting it into either RNG or electrical power for the electrical grid.

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