Montauk Renewables (NASDAQ:MNTK) Shares Up 9.2% – Still a Buy?

Montauk Renewables, Inc. (NASDAQ:MNTK)’s stock price shot up 9.2% during mid-day trading on Friday . The company traded as high as $4.74 and last traded at $4.74. 123,357 shares traded hands during mid-day trading, a decline of 43% from the average session volume of 214,782 shares. The stock had previously closed at $4.34.

Montauk Renewables Price Performance

The company has a fifty day moving average price of $4.46 and a two-hundred day moving average price of $4.90. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.17. The firm has a market cap of $708.24 million, a P/E ratio of 30.88 and a beta of -0.30.

Hedge Funds Weigh In On Montauk Renewables

A number of hedge funds and other institutional investors have recently bought and sold shares of MNTK. SIR Capital Management L.P. raised its position in Montauk Renewables by 91.2% during the second quarter. SIR Capital Management L.P. now owns 326,074 shares of the company’s stock valued at $1,859,000 after purchasing an additional 155,546 shares in the last quarter. State Street Corp lifted its stake in shares of Montauk Renewables by 1.6% in the third quarter. State Street Corp now owns 1,613,351 shares of the company’s stock worth $8,406,000 after acquiring an additional 25,732 shares during the period. SG Americas Securities LLC bought a new stake in shares of Montauk Renewables in the 3rd quarter valued at $114,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Montauk Renewables by 16.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 70,749 shares of the company’s stock valued at $369,000 after acquiring an additional 9,756 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Montauk Renewables by 0.6% during the third quarter. Geode Capital Management LLC now owns 1,636,368 shares of the company’s stock worth $8,527,000 after purchasing an additional 9,203 shares during the period. 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.