Montauk Renewables (NASDAQ:MNTK) Price Target Lowered to $3.00 at UBS Group

Montauk Renewables (NASDAQ:MNTK) had its target price trimmed by UBS Group from $6.25 to $3.00 in a report issued on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Separately, B. Riley lowered their price target on shares of Montauk Renewables from $4.00 to $3.00 and set a “neutral” rating for the company in a research report on Friday.

Montauk Renewables Price Performance

Shares of MNTK opened at $2.07 on Friday. The company has a 50 day moving average price of $3.98 and a 200-day moving average price of $4.47. Montauk Renewables has a fifty-two week low of $2.06 and a fifty-two week high of $6.22. The stock has a market capitalization of $296.77 million, a PE ratio of 12.94 and a beta of -0.20. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.04 and a current ratio of 2.04.

Montauk Renewables (NASDAQ:MNTK) last announced its quarterly earnings results on Thursday, March 13th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.11). Montauk Renewables had a return on equity of 8.88% and a net margin of 11.80%. The business had revenue of $27.74 million during the quarter, compared to analysts’ expectations of $59.92 million. Equities analysts predict that Montauk Renewables will post 0.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Montauk Renewables

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. lifted its position in Montauk Renewables by 105.0% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,898 shares of the company’s stock valued at $26,000 after acquiring an additional 2,509 shares during the last quarter. Rhumbline Advisers lifted its position in Montauk Renewables by 3.8% during the fourth quarter. Rhumbline Advisers now owns 90,439 shares of the company’s stock valued at $360,000 after acquiring an additional 3,285 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Montauk Renewables by 7.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 48,712 shares of the company’s stock valued at $194,000 after acquiring an additional 3,434 shares during the last quarter. Verition Fund Management LLC increased its stake in Montauk Renewables by 12.4% during the 3rd quarter. Verition Fund Management LLC now owns 44,739 shares of the company’s stock valued at $233,000 after purchasing an additional 4,947 shares in the last quarter. Finally, ProShare Advisors LLC increased its stake in Montauk Renewables by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 18,588 shares of the company’s stock valued at $74,000 after purchasing an additional 6,117 shares in the last quarter. Hedge funds and other institutional investors own 16.35% of the company’s stock.

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.