Montauk Renewables (NASDAQ:MNTK) Given New $3.00 Price Target at B. Riley

Montauk Renewables (NASDAQ:MNTK) had its target price lowered by equities researchers at B. Riley from $4.00 to $3.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. B. Riley’s target price suggests a potential upside of 20.48% from the company’s current price.

Montauk Renewables Stock Down 12.6 %

Shares of Montauk Renewables stock opened at $2.49 on Friday. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.17. Montauk Renewables has a 12 month low of $2.33 and a 12 month high of $6.22. The business has a fifty day simple moving average of $4.04 and a 200 day simple moving average of $4.48. The stock has a market cap of $356.99 million, a PE ratio of 15.56 and a beta of -0.20.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MNTK. KLP Kapitalforvaltning AS acquired a new position in Montauk Renewables in the fourth quarter valued at about $25,000. Point72 Asia Singapore Pte. Ltd. grew its stake in Montauk Renewables by 105.0% in 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 period. N.E.W. Advisory Services LLC acquired a new position in Montauk Renewables in the fourth quarter valued at about $40,000. ABC Arbitrage SA acquired a new position in Montauk Renewables in the fourth quarter valued at about $55,000. Finally, ProShare Advisors LLC grew its stake in Montauk Renewables by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 18,588 shares of the company’s stock valued at $74,000 after acquiring an additional 6,117 shares during the period. 16.35% of the stock is owned by institutional investors and hedge funds.

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.