Montauk Renewables (NASDAQ:MNTK) Shares Gap Up – What’s Next?

Shares of Montauk Renewables, Inc. (NASDAQ:MNTK) gapped up prior to trading on Thursday . The stock had previously closed at $3.98, but opened at $4.21. Montauk Renewables shares last traded at $4.53, with a volume of 72,689 shares.

Montauk Renewables Stock Up 14.1 %

The firm has a market cap of $650.89 million, a price-to-earnings ratio of 28.38 and a beta of -0.30. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 2.04. The firm’s fifty day moving average is $4.53 and its two-hundred day moving average is $4.92.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. SIR Capital Management L.P. lifted its position in Montauk Renewables by 91.2% in the second quarter. SIR Capital Management L.P. now owns 326,074 shares of the company’s stock worth $1,859,000 after purchasing an additional 155,546 shares during the period. SG Americas Securities LLC acquired a new position in Montauk Renewables during the third quarter worth about $114,000. State Street Corp grew its holdings in shares of Montauk Renewables by 1.6% in the 3rd quarter. State Street Corp now owns 1,613,351 shares of the company’s stock worth $8,406,000 after acquiring an additional 25,732 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Montauk Renewables by 16.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 70,749 shares of the company’s stock worth $369,000 after purchasing an additional 9,756 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in Montauk Renewables by 14.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 32,611 shares of the company’s stock valued at $186,000 after buying an additional 4,176 shares during the period. 16.35% of the stock is currently owned by institutional investors.

Montauk Renewables Company Profile

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.