Montauk Renewables (NASDAQ:MNTK) Downgraded to "Strong Sell" Rating by Zacks Research

Key Points

• Montauk Renewables has been downgraded by Zacks Research from a "hold" rating to a "strong sell" rating, reflecting concerns about its stock performance.
• Despite Zacks' downgrade, Wall Street Zen recently upgraded Montauk shares from "sell" to "hold," indicating mixed analyst sentiment regarding the stock.
• For the most recent quarter, Montauk Renewables reported revenues of $45.13 million, exceeding estimates, but it reported a loss of ($0.04) EPS, missing the consensus estimate.

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

Separately, Wall Street Zen upgraded Montauk Renewables from a "sell" rating to a "hold" rating in a report on Saturday, September 13th. Three research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and a consensus target price of $3.33.

Montauk Renewables Stock Performance

Shares of Montauk Renewables stock traded down $0.21 during trading on Monday, reaching $2.09. The company's stock had a trading volume of 520,710 shares, compared to its average volume of 164,381. The firm has a market cap of $297.32 million, a PE ratio of 104.50 and a beta of 0.07. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.23. Montauk Renewables has a fifty-two week low of $1.68 and a fifty-two week high of $6.04. The company has a 50-day moving average price of $2.12 and a two-hundred day moving average price of $2.17.

Montauk Renewables (NASDAQ:MNTK - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.05). Montauk Renewables had a return on equity of 1.01% and a net margin of 1.46%.The company had revenue of $45.13 million for the quarter, compared to analysts' expectations of $42.73 million. On average, analysts forecast that Montauk Renewables will post 0.19 EPS for the current year.

Hedge Funds Weigh In On Montauk Renewables

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Millennium Management LLC acquired a new position in shares of Montauk Renewables during the 4th quarter worth $132,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Montauk Renewables by 24.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 280,639 shares of the company's stock valued at $1,117,000 after buying an additional 54,349 shares during the last quarter. Deutsche Bank AG boosted its position in shares of Montauk Renewables by 52.6% during the 4th quarter. Deutsche Bank AG now owns 71,267 shares of the company's stock valued at $284,000 after purchasing an additional 24,561 shares in the last quarter. Nuveen LLC bought a new position in Montauk Renewables in the first quarter worth approximately $359,000. Finally, Northern Trust Corp raised its stake in shares of Montauk Renewables by 3.8% in the fourth quarter. Northern Trust Corp now owns 618,629 shares of the company's stock worth $2,462,000 after purchasing an additional 22,685 shares during the last quarter. 16.35% of the stock is owned by institutional investors and hedge funds.

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.