Montauk Renewables, Inc. (NASDAQ:MNTK) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC lessened its holdings in shares of Montauk Renewables, Inc. (NASDAQ:MNTK) by 42.4% in the second quarter, HoldingsChannel reports. The fund owned 234,300 shares of the company’s stock after selling 172,272 shares during the period. Renaissance Technologies LLC’s holdings in Montauk Renewables were worth $1,336,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its position in Montauk Renewables by 1.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 702,914 shares of the company’s stock worth $4,007,000 after acquiring an additional 10,711 shares during the period. American Century Companies Inc. raised its position in shares of Montauk Renewables by 64.0% during the second quarter. American Century Companies Inc. now owns 95,793 shares of the company’s stock worth $546,000 after purchasing an additional 37,384 shares during the period. SIR Capital Management L.P. raised its position in shares of Montauk Renewables by 91.2% during 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. Rhumbline Advisers raised its position in shares of Montauk Renewables by 2.6% during the second quarter. Rhumbline Advisers now owns 92,138 shares of the company’s stock worth $525,000 after purchasing an additional 2,366 shares during the period. Finally, Principal Financial Group Inc. raised its position in shares of Montauk Renewables by 8.9% during the second quarter. Principal Financial Group Inc. now owns 25,902 shares of the company’s stock worth $148,000 after purchasing an additional 2,107 shares during the period. Institutional investors and hedge funds own 16.35% of the company’s stock.

Analyst Upgrades and Downgrades

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

Montauk Renewables Stock Up 0.9 %

NASDAQ:MNTK opened at $5.41 on Friday. The firm has a market capitalization of $777.41 million, a price-to-earnings ratio of 36.07 and a beta of -0.20. Montauk Renewables, Inc. has a 1-year low of $3.38 and a 1-year high of $10.95. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.19. The business’s fifty day moving average price is $4.80 and its 200 day moving average price is $4.79.

Montauk Renewables (NASDAQ:MNTK) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.07). The business had revenue of $43.34 million for the quarter, compared to analyst estimates of $50.63 million. Montauk Renewables had a net margin of 10.22% and a return on equity of 7.52%. During the same period in the previous year, the firm posted $0.01 earnings per share. On average, sell-side analysts forecast that Montauk Renewables, Inc. will post 0.2 earnings per share for the current fiscal year.

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.