Montauk Renewables (NASDAQ:MNTK) Trading 8.3% Higher

Montauk Renewables, Inc. (NASDAQ:MNTK) shares traded up 8.3% during mid-day trading on Wednesday . The stock traded as high as $11.20 and last traded at $11.11. 8,329 shares were traded during mid-day trading, a decline of 93% from the average session volume of 114,957 shares. The stock had previously closed at $10.26.

Separately, Zacks Investment Research upgraded shares of Montauk Renewables from a “sell” rating to a “hold” rating in a research note on Wednesday, July 21st.

The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.32. The firm’s 50 day moving average is $7.86 and its 200-day moving average is $9.28.

Montauk Renewables (NASDAQ:MNTK) last posted its earnings results on Monday, August 16th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.05). The company had revenue of $31.67 million for the quarter, compared to analysts’ expectations of $30.50 million.

A number of large investors have recently bought and sold shares of MNTK. Morgan Stanley raised its position in Montauk Renewables by 48.2% during the second quarter. Morgan Stanley now owns 6,303 shares of the company’s stock worth $48,000 after acquiring an additional 2,051 shares during the period. JPMorgan Chase & Co. acquired a new position in Montauk Renewables during the first quarter worth $66,000. Thompson Siegel & Walmsley LLC acquired a new position in Montauk Renewables during the first quarter worth $73,000. Jane Street Group LLC acquired a new position in Montauk Renewables during the first quarter worth $117,000. Finally, Renaissance Technologies LLC acquired a new position in Montauk Renewables during the second quarter worth $174,000. Institutional investors own 1.97% of the company’s stock.

Montauk Renewables Company Profile (NASDAQ:MNTK)

Montauk Renewables, Inc, a renewable energy company, engages in recovery and processing of biogas from landfills and other non-fossil fuel sources. The company develops, owns, and operates renewable natural gas (RNG) projects that capture methane and prevents it from being released into the atmosphere by converting it into either RNG or electrical power for the electrical grid.

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