Scotiabank Issues Pessimistic Forecast for Montauk Renewables (NASDAQ:MNTK) Stock Price

Montauk Renewables (NASDAQ:MNTK) had its price target reduced by Scotiabank from $6.00 to $4.00 in a research report sent to investors on Friday,Benzinga reports. They currently have a sector perform rating on the stock.

Several other analysts have also issued reports on MNTK. B. Riley reduced their price objective on shares of Montauk Renewables from $4.00 to $3.00 and set a “neutral” rating on the stock in a report on Friday, March 14th. UBS Group dropped their price target on shares of Montauk Renewables from $6.25 to $3.00 and set a “neutral” rating for the company in a research report on Friday, March 14th.

Montauk Renewables Stock Down 1.9 %

Shares of NASDAQ MNTK opened at $2.08 on Friday. The company has a market capitalization of $296.26 million, a P/E ratio of 13.00 and a beta of 0.05. 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 company has a 50 day simple moving average of $3.03 and a 200-day simple moving average of $4.08. Montauk Renewables has a 1 year low of $1.75 and a 1 year high of $6.22.

Montauk Renewables (NASDAQ:MNTK) last posted its 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 return on equity of 8.88% and a net margin of 11.80%. The business had revenue of $27.74 million for the quarter, compared to analyst estimates of $59.92 million. On average, equities research analysts predict that Montauk Renewables will post 0.19 earnings per share for the current year.

Institutional Investors Weigh In On Montauk Renewables

A number of institutional investors have recently modified their holdings of the company. KLP Kapitalforvaltning AS acquired a new position in Montauk Renewables during the 4th quarter worth about $25,000. N.E.W. Advisory Services LLC purchased a new stake in Montauk Renewables during the fourth quarter worth about $40,000. ABC Arbitrage SA acquired a new stake in shares of Montauk Renewables during the fourth quarter worth about $55,000. ProShare Advisors LLC boosted its stake in shares of 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 purchasing an additional 6,117 shares during the period. Finally, BNP Paribas Financial Markets purchased a new position in shares of Montauk Renewables in the fourth quarter valued at approximately $88,000. 16.35% of the stock is owned by institutional investors and hedge funds.

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.