Montauk Renewables (NASDAQ:MNTK) Cut to Hold at Zacks Research

Key Points

• Zacks Research downgraded Montauk Renewables (MNTK) from "strong-buy" to "hold," while MarketBeat shows a consensus rating of "Reduce" with an average price target of $4.00.
• Montauk missed expectations in its most recent quarter—reporting EPS of $0.02 vs. $0.06 expected and revenue of $43.39M vs. $44.39M expected—and its shares trade near the 52-week low (opened at $1.26).

Montauk Renewables (NASDAQ:MNTK - Get Free Report) was downgraded by analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

MNTK has been the subject of several other reports. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Montauk Renewables in a report on Thursday, January 22nd. Wall Street Zen upgraded Montauk Renewables from a "sell" rating to a "hold" rating in a research report on Saturday, March 7th. Three analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Montauk Renewables currently has a consensus rating of "Reduce" and an average price target of $4.00.

Montauk Renewables Price Performance

NASDAQ MNTK opened at $1.26 on Tuesday. The company has a market cap of $179.35 million, a PE ratio of 63.03 and a beta of 0.05. Montauk Renewables has a 52 week low of $1.20 and a 52 week high of $2.78. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.48. The firm's 50-day simple moving average is $1.56 and its two-hundred day simple moving average is $1.80.

Montauk Renewables (NASDAQ:MNTK - Get Free Report) last posted its earnings results on Wednesday, March 11th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.04). Montauk Renewables had a return on equity of 0.10% and a net margin of 0.15%.The business had revenue of $43.39 million during the quarter, compared to analysts' expectations of $44.39 million. Research analysts predict that Montauk Renewables will post 0.19 earnings per share for the current year.

Institutional Investors Weigh In On Montauk Renewables

Institutional investors and hedge funds have recently modified their holdings of the company. Alliancebernstein L.P. grew its stake in Montauk Renewables by 6.9% during the third quarter. Alliancebernstein L.P. now owns 97,520 shares of the company's stock valued at $196,000 after acquiring an additional 6,300 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Montauk Renewables by 1.9% in the 4th quarter. Renaissance Technologies LLC now owns 342,700 shares of the company's stock worth $572,000 after purchasing an additional 6,300 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in Montauk Renewables by 92.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 13,175 shares of the company's stock worth $26,000 after purchasing an additional 6,323 shares in the last quarter. Jane Street Group LLC boosted its holdings in Montauk Renewables by 6.5% in the 2nd quarter. Jane Street Group LLC now owns 107,351 shares of the company's stock valued at $244,000 after purchasing an additional 6,517 shares during the period. Finally, Invesco Ltd. boosted its holdings in Montauk Renewables by 35.0% in the 4th quarter. Invesco Ltd. now owns 31,055 shares of the company's stock valued at $52,000 after purchasing an additional 8,054 shares during the period. 16.35% of the stock is owned by hedge funds and other institutional investors.

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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