Montauk Renewables (NASDAQ:MNTK) Shares Down 5.5% – Time to Sell?

Shares of Montauk Renewables, Inc. (NASDAQ:MNTK) were down 5.5% during trading on Wednesday . The company traded as low as $4.39 and last traded at $4.43. Approximately 14,813 shares traded hands during trading, a decline of 89% from the average daily volume of 137,655 shares. The stock had previously closed at $4.69.

Montauk Renewables Trading Down 4.3 %

The firm has a market capitalization of $643.73 million, a price-to-earnings ratio of 27.97 and a beta of -0.25. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.04 and a current ratio of 2.04. The business has a fifty day moving average price of $4.19 and a 200 day moving average price of $4.62.

Hedge Funds Weigh In On Montauk Renewables

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MNTK. Point72 Asia Singapore Pte. Ltd. lifted its holdings in 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 acquiring an additional 2,509 shares during the last quarter. Rhumbline Advisers increased its stake in shares of Montauk Renewables by 3.8% in the fourth quarter. Rhumbline Advisers now owns 90,439 shares of the company’s stock valued at $360,000 after purchasing an additional 3,285 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Montauk Renewables by 7.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 48,712 shares of the company’s stock valued at $194,000 after purchasing an additional 3,434 shares during the period. Verition Fund Management LLC increased its stake in shares of Montauk Renewables by 12.4% in the third quarter. Verition Fund Management LLC now owns 44,739 shares of the company’s stock valued at $233,000 after purchasing an additional 4,947 shares during the period. Finally, ProShare Advisors LLC increased its stake in shares of Montauk Renewables by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 18,588 shares of the company’s stock valued at $74,000 after purchasing an additional 6,117 shares during the period. 16.35% of the stock is owned by hedge funds and other 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.