Montauk Renewables (NASDAQ:MNTK) Shares Gap Down – Should You Sell?

Montauk Renewables, Inc. (NASDAQ:MNTK) gapped down before the market opened on Monday . The stock had previously closed at $4.94, but opened at $4.66. Montauk Renewables shares last traded at $4.71, with a volume of 73,814 shares changing hands.

Montauk Renewables Price Performance

The firm’s 50-day moving average is $4.46 and its 200-day moving average is $4.90. 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 market capitalization of $665.23 million, a P/E ratio of 29.00 and a beta of -0.26.

Hedge Funds Weigh In On Montauk Renewables

Hedge funds have recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. boosted its position in shares of Montauk Renewables by 105.0% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,898 shares of the company’s stock worth $26,000 after purchasing an additional 2,509 shares during the period. Bleakley Financial Group LLC bought a new position in shares of Montauk Renewables in the third quarter worth approximately $73,000. Townsquare Capital LLC bought a new position in shares of Montauk Renewables in the third quarter worth approximately $75,000. SG Americas Securities LLC bought a new position in shares of Montauk Renewables in the third quarter worth approximately $114,000. Finally, Principal Financial Group Inc. boosted its position in shares of Montauk Renewables by 8.9% during the second quarter. Principal Financial Group Inc. now owns 25,902 shares of the company’s stock worth $148,000 after acquiring an additional 2,107 shares during the last quarter. 16.35% of the stock is currently owned by institutional investors.

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.