Montauk Renewables (NASDAQ:MNTK) Releases Quarterly Earnings Results, Misses Estimates By $0.04 EPS

by · The Cerbat Gem

Montauk Renewables (NASDAQ:MNTK – Get Free Report) released its earnings results on Wednesday. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.04), FiscalAI reports. Montauk Renewables had a negative net margin of 5.72% and a negative return on equity of 3.57%. The business had revenue of $43.39 million during the quarter, compared to the consensus estimate of $44.39 million.

Montauk Renewables Trading Down 2.8%

NASDAQ:MNTK opened at $1.37 on Thursday. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.21. Montauk Renewables has a 12 month low of $1.31 and a 12 month high of $2.93. The company has a market capitalization of $194.18 million, a P/E ratio of -22.75 and a beta of 0.05. The firm has a fifty day simple moving average of $1.59 and a 200-day simple moving average of $1.83.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MNTK. Zacks Research upgraded shares of Montauk Renewables from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 27th. Weiss Ratings reissued a “sell (d)” rating on shares of Montauk Renewables in a research report on Thursday, January 22nd. Finally, Wall Street Zen raised shares of Montauk Renewables from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $3.33.

Get Our Latest Stock Report on Montauk Renewables

Hedge Funds Weigh In On Montauk Renewables

Hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC purchased a new position in shares of Montauk Renewables during the 1st quarter worth $62,000. Jane Street Group LLC boosted its stake in Montauk Renewables by 303.4% in the first quarter. Jane Street Group LLC now owns 100,834 shares of the company’s stock valued at $213,000 after acquiring an additional 75,836 shares in the last quarter. Strs Ohio purchased a new stake in Montauk Renewables in the 1st quarter valued at $84,000. JPMorgan Chase & Co. grew its holdings in shares of Montauk Renewables by 25.0% during the second quarter. JPMorgan Chase & Co. now owns 64,772 shares of the company’s stock worth $144,000 after buying an additional 12,974 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of Montauk Renewables by 12.6% in the second quarter. Rhumbline Advisers now owns 105,881 shares of the company’s stock valued at $235,000 after acquiring an additional 11,820 shares in the last quarter. Institutional investors and hedge funds own 16.35% of the company’s stock.

About Montauk Renewables

(Get Free Report)

Montauk Renewables Holdings, Inc is a renewable energy company headquartered in Irving, Texas, specializing in the capture and conversion of landfill gas into clean energy products. The company’s core operations focus on the design, development and operation of landfill gas collection systems that extract methane and other biogases generated by municipal solid waste. Montauk processes this gas into renewable natural gas (RNG) suitable for pipeline injection and also generates electricity for sale to utilities and commercial consumers.

Through its subsidiaries, Montauk provides a suite of environmental and waste‐management services across the United States and Canada.

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