Montauk Renewables (NASDAQ:MNTK) Shares Down 5.1% – What’s Next?

Montauk Renewables, Inc. (NASDAQ:MNTK) traded down 5.1% during trading on Wednesday . The stock traded as low as $4.30 and last traded at $4.26. 67,873 shares were traded during trading, a decline of 59% from the average session volume of 166,263 shares. The stock had previously closed at $4.49.

Montauk Renewables Price Performance

The stock has a 50-day moving average of $4.14 and a two-hundred day moving average of $4.80. 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 $646.60 million, a price-to-earnings ratio of 28.19 and a beta of -0.26.

Institutional Investors Weigh In On Montauk Renewables

Large investors have recently made changes to their positions in the company. Geode Capital Management LLC lifted its position in shares of Montauk Renewables by 0.6% in 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 in the last quarter. State Street Corp boosted its stake in shares of Montauk Renewables by 1.6% during the 3rd quarter. State Street Corp now owns 1,613,351 shares of the company’s stock valued at $8,406,000 after buying an additional 25,732 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Montauk Renewables by 1.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 702,914 shares of the company’s stock valued at $4,007,000 after acquiring an additional 10,711 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Montauk Renewables by 237.4% in the third quarter. JPMorgan Chase & Co. now owns 173,483 shares of the company’s stock worth $904,000 after acquiring an additional 122,072 shares during the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of Montauk Renewables during the second quarter worth $962,000. Institutional investors and hedge funds own 16.35% of the company’s stock.

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.