Montauk Renewables (NASDAQ:MNTK) Upgraded to Hold at Wall Street Zen

Key Points

• Montauk Renewables has received an upgrade from a "sell" rating to a "hold" rating by Wall Street Zen.
• The company reported a quarterly earnings miss, posting a loss of ($0.04) earnings per share, compared to a consensus estimate of $0.01.
• Institutional investors have recently increased their stakes, with Nisa Investment Advisors increasing its holdings by 799.7% in the second quarter.

Montauk Renewables (NASDAQ:MNTK - Get Free Report) was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Saturday.

Montauk Renewables Stock Up 12.2%

NASDAQ:MNTK traded up $0.25 during mid-day trading on Friday, reaching $2.30. The company's stock had a trading volume of 174,185 shares, compared to its average volume of 164,113. Montauk Renewables has a 1 year low of $1.68 and a 1 year high of $6.04. The stock has a fifty day moving average of $2.12 and a 200-day moving average of $2.18. The firm has a market capitalization of $327.20 million, a PE ratio of 115.00 and a beta of 0.07. 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 for the quarter, missing analysts' consensus estimates of $0.01 by ($0.05). Montauk Renewables had a return on equity of 1.01% and a net margin of 1.46%.The business had revenue of $45.13 million during the quarter, compared to analysts' expectations of $42.73 million. Equities research analysts forecast that Montauk Renewables will post 0.19 earnings per share for the current year.

Institutional Trading of Montauk Renewables

A number of hedge funds have recently added to or reduced their stakes in MNTK. Price T Rowe Associates Inc. MD lifted its stake in Montauk Renewables by 7.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 48,712 shares of the company's stock worth $194,000 after acquiring an additional 3,434 shares during the period. Northern Trust Corp raised its holdings in 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 in the last quarter. BNP Paribas Financial Markets bought a new position in Montauk Renewables in the fourth quarter worth about $88,000. Bank of America Corp DE raised its holdings in Montauk Renewables by 39.3% in the fourth quarter. Bank of America Corp DE now owns 76,088 shares of the company's stock worth $303,000 after purchasing an additional 21,469 shares in the last quarter. Finally, Deutsche Bank AG raised its holdings in Montauk Renewables by 52.6% in the fourth quarter. Deutsche Bank AG now owns 71,267 shares of the company's stock worth $284,000 after purchasing an additional 24,561 shares in the last quarter. 16.35% of the stock is owned by hedge funds and other institutional investors.

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.