BlackRock Inc. Acquires Shares of 4,709,893 Montauk Renewables, Inc. $MNTK

Key Points

• BlackRock acquired 4,709,893 shares of Montauk Renewables during the second quarter, valued at approximately $7.35 million and representing about 3.31% of the company.
• Other institutional investors also adjusted their positions, while hedge funds and institutional investors collectively own 16.35% of Montauk Renewables.
• MNTK shares opened at $2.23, above the analyst consensus target of $1.80. Ratings remain mixed, resulting in a consensus “Hold” recommendation despite Zacks Research upgrading the stock to “Strong Buy.”

BlackRock Inc. purchased a new position in Montauk Renewables, Inc. (NASDAQ:MNTK - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 4,709,893 shares of the company's stock, valued at approximately $7,347,000. BlackRock Inc. owned about 3.31% of Montauk Renewables as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Invesco Ltd. grew its position in shares of Montauk Renewables by 35.0% during the 4th quarter. Invesco Ltd. now owns 31,055 shares of the company's stock valued at $52,000 after acquiring an additional 8,054 shares during the period. HRT Financial LP purchased a new position in Montauk Renewables in the fourth quarter valued at approximately $44,000. Corient Private Wealth LLC bought a new position in Montauk Renewables during the second quarter valued at $36,000. Two Sigma Investments LP purchased a new stake in Montauk Renewables in the third quarter worth $34,000. Finally, Virtu Financial LLC bought a new stake in shares of Montauk Renewables in the third quarter valued at $28,000. Hedge funds and other institutional investors own 16.35% of the company's stock.

Montauk Renewables Price Performance

Shares of MNTK opened at $2.23 on Friday. The firm has a 50 day moving average of $1.77 and a 200 day moving average of $1.57. The company has a market capitalization of $317.42 million, a P/E ratio of 37.17 and a beta of 0.54. 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, Inc. has a twelve month low of $1.07 and a twelve month high of $2.57.

Analyst Ratings Changes

A number of brokerages recently issued reports on MNTK. Zacks Research upgraded Montauk Renewables from a "hold" rating to a "strong-buy" rating in a research note on Tuesday. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Montauk Renewables in a report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Montauk Renewables presently has a consensus rating of "Hold" and an average target price of $1.80.

Montauk Renewables 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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