UBS Group Cuts Montauk Renewables (NASDAQ:MNTK) Price Target to $3.00

Montauk Renewables (NASDAQ:MNTK) had its target price decreased by UBS Group from $6.25 to $3.00 in a research report released on Friday morning,Benzinga reports. UBS Group currently has a neutral rating on the stock.

Separately, B. Riley lowered their price objective on Montauk Renewables from $4.00 to $3.00 and set a “neutral” rating on the stock in a research note on Friday.

Montauk Renewables Price Performance

Montauk Renewables stock opened at $2.07 on Friday. The stock’s fifty day moving average price is $3.98 and its two-hundred day moving average price is $4.47. Montauk Renewables has a one year low of $2.06 and a one year high of $6.22. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 2.04. The firm has a market cap of $296.77 million, a PE ratio of 12.94 and a beta of -0.20.

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

Hedge Funds Weigh In On Montauk Renewables

Hedge funds and other institutional investors have recently modified their holdings of the business. KLP Kapitalforvaltning AS bought a new position in shares of Montauk Renewables in the 4th quarter valued at $25,000. Point72 Asia Singapore Pte. Ltd. increased its stake in shares of Montauk Renewables by 105.0% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,898 shares of the company’s stock valued at $26,000 after purchasing an additional 2,509 shares during the last quarter. N.E.W. Advisory Services LLC bought a new position in shares of Montauk Renewables in the 4th quarter valued at $40,000. ABC Arbitrage SA bought a new position in shares of Montauk Renewables in the 4th quarter valued at $55,000. Finally, ProShare Advisors LLC increased its stake in shares of Montauk Renewables by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 18,588 shares of the company’s stock valued at $74,000 after purchasing an additional 6,117 shares during the last quarter. 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.