Montauk Renewables (NASDAQ:MNTK) Shares Up 8.3% – What’s Next?

Montauk Renewables, Inc. (NASDAQ:MNTK) shares shot up 8.3% during mid-day trading on Thursday . The company traded as high as $4.45 and last traded at $4.45. 8,582 shares were traded during mid-day trading, a decline of 97% from the average session volume of 280,700 shares. The stock had previously closed at $4.11.

Wall Street Analyst Weigh In

Separately, Scotiabank reaffirmed a “sector perform” rating and set a $6.00 price objective (down from $8.00) on shares of Montauk Renewables in a research note on Tuesday, September 3rd.

Montauk Renewables Stock Performance

The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.19. The stock has a 50 day moving average of $5.22 and a 200 day moving average of $5.09. The company has a market capitalization of $597.42 million, a price-to-earnings ratio of 25.69 and a beta of -0.21.

Montauk Renewables (NASDAQ:MNTK) last posted its earnings results on Tuesday, November 12th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.08 by $0.04. Montauk Renewables had a net margin of 11.80% and a return on equity of 9.07%. The company had revenue of $65.92 million during the quarter, compared to the consensus estimate of $61.27 million. As a group, analysts predict that Montauk Renewables, Inc. will post 0.19 EPS for the current year.

Institutional Trading of Montauk Renewables

A number of hedge funds have recently made changes to their positions in the stock. CWM LLC increased its position in shares of Montauk Renewables by 1,425.5% during the second quarter. CWM LLC now owns 4,485 shares of the company’s stock valued at $26,000 after buying an additional 4,191 shares during the period. Bleakley Financial Group LLC bought a new stake in Montauk Renewables during the third quarter worth about $73,000. Townsquare Capital LLC bought a new stake in Montauk Renewables during the third quarter worth about $75,000. SG Americas Securities LLC bought a new position in shares of Montauk Renewables in the third quarter worth approximately $114,000. Finally, Principal Financial Group Inc. lifted its stake in shares of Montauk Renewables by 8.9% in the second quarter. Principal Financial Group Inc. now owns 25,902 shares of the company’s stock worth $148,000 after buying an additional 2,107 shares in the last quarter. 16.35% of the stock is 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.