Assenagon Asset Management S.A. Makes New $373,000 Investment in Montauk Renewables, Inc. (NASDAQ:MNTK)

Assenagon Asset Management S.A. acquired a new stake in Montauk Renewables, Inc. (NASDAQ:MNTK) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 65,498 shares of the company’s stock, valued at approximately $373,000.

A number of other hedge funds have also modified their holdings of MNTK. CWM LLC lifted its position in Montauk Renewables by 1,425.5% during the 2nd quarter. CWM LLC now owns 4,485 shares of the company’s stock worth $26,000 after acquiring an additional 4,191 shares during the period. Tidal Investments LLC acquired a new stake in shares of Montauk Renewables in the 1st quarter worth $368,000. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Montauk Renewables by 81.0% in the first quarter. Jacobs Levy Equity Management Inc. now owns 502,682 shares of the company’s stock valued at $2,091,000 after acquiring an additional 224,895 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of Montauk Renewables by 81.3% during the first quarter. Janus Henderson Group PLC now owns 71,323 shares of the company’s stock worth $296,000 after acquiring an additional 31,974 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in Montauk Renewables by 33.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 43,329 shares of the company’s stock worth $181,000 after purchasing an additional 10,850 shares in the last quarter. 16.35% of the stock is currently owned by hedge funds and other institutional investors.

Montauk Renewables Stock Performance

NASDAQ:MNTK opened at $4.42 on Friday. The firm’s fifty day simple moving average is $5.26 and its 200-day simple moving average is $4.98. The company has a quick ratio of 2.27, a current ratio of 2.27 and a debt-to-equity ratio of 0.21. The stock has a market cap of $635.15 million, a PE ratio of 29.47 and a beta of -0.18. Montauk Renewables, Inc. has a fifty-two week low of $3.38 and a fifty-two week high of $10.95.

Montauk Renewables (NASDAQ:MNTK) last issued its earnings results on Thursday, August 8th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.07). The company had revenue of $43.34 million for the quarter, compared to analyst estimates of $50.63 million. Montauk Renewables had a return on equity of 8.44% and a net margin of 10.58%. During the same quarter in the previous year, the company posted $0.01 earnings per share. Analysts expect that Montauk Renewables, Inc. will post 0.25 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, B. Riley lowered their price objective on Montauk Renewables from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Tuesday, May 7th.

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.