B. Riley Cuts Montauk Renewables (NASDAQ:MNTK) Price Target to $3.00

Montauk Renewables (NASDAQ:MNTK) had its price objective trimmed by B. Riley from $4.00 to $3.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Montauk Renewables Trading Down 16.9 %

Shares of MNTK opened at $2.07 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 $2.06 and a 12-month high of $6.22. The firm has a market capitalization of $296.77 million, a PE ratio of 12.94 and a beta of -0.20. The stock’s fifty day simple moving average is $3.98 and its 200-day simple moving average is $4.47.

Montauk Renewables (NASDAQ:MNTK) last issued its quarterly earnings results on Thursday, March 13th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.11). Montauk Renewables had a net margin of 11.80% and a return on equity of 8.88%. The firm had revenue of $27.74 million for the quarter, compared to analyst estimates of $59.92 million. As a group, research analysts predict that Montauk Renewables will post 0.19 earnings per share for the current year.

Hedge Funds Weigh In On Montauk Renewables

Several hedge funds have recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Montauk Renewables by 24.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 280,639 shares of the company’s stock valued at $1,117,000 after buying an additional 54,349 shares during the period. ProShare Advisors LLC lifted 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 buying an additional 6,117 shares during the period. Millennium Management LLC acquired a new position in Montauk Renewables in the fourth quarter valued at about $132,000. Deutsche Bank AG lifted its stake in Montauk Renewables by 52.6% in the fourth quarter. Deutsche Bank AG now owns 71,267 shares of the company’s stock valued at $284,000 after buying an additional 24,561 shares during the period. Finally, Bank of America Corp DE lifted its stake in Montauk Renewables by 39.3% in the fourth quarter. Bank of America Corp DE now owns 76,088 shares of the company’s stock valued at $303,000 after buying an additional 21,469 shares during the period. Institutional investors and hedge funds own 16.35% of the company’s stock.

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.