Montauk Renewables (NASDAQ:MNTK) Shares Gap Down – Should You Sell?

Montauk Renewables, Inc. (NASDAQ:MNTK)’s share price gapped down before the market opened on Monday . The stock had previously closed at $4.94, but opened at $4.66. Montauk Renewables shares last traded at $4.71, with a volume of 73,814 shares trading hands.

Montauk Renewables Trading Down 6.1 %

The company has a market cap of $665.23 million, a PE ratio of 29.00 and a beta of -0.26. The stock’s 50 day moving average is $4.46 and its 200-day moving average is $4.90. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.17.

Institutional Investors Weigh In On Montauk Renewables

Several hedge funds and other institutional investors have recently made changes to their positions in MNTK. Point72 Asia Singapore Pte. Ltd. raised its stake in shares of 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. Bleakley Financial Group LLC purchased a new stake in shares of Montauk Renewables in the third quarter valued at $73,000. Townsquare Capital LLC purchased a new stake in shares of Montauk Renewables in the third quarter valued at $75,000. SG Americas Securities LLC purchased a new stake in shares of Montauk Renewables in the third quarter valued at $114,000. Finally, Principal Financial Group Inc. raised 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 valued at $148,000 after acquiring an additional 2,107 shares during the period. Hedge funds and other institutional investors own 16.35% of the company’s stock.

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.