Montauk Renewables, Inc. (NASDAQ:MNTK) Short Interest Update

Montauk Renewables, Inc. (NASDAQ:MNTK) was the target of a significant growth in short interest in September. As of September 30th, there was short interest totalling 912,200 shares, a growth of 174.6% from the September 15th total of 332,200 shares. Based on an average daily trading volume, of 189,600 shares, the days-to-cover ratio is presently 4.8 days. Approximately 6.2% of the shares of the stock are sold short.

Separately, Zacks Investment Research upgraded Montauk Renewables from a “sell” rating to a “hold” rating in a research note on Wednesday, July 21st.

MNTK stock traded up $0.11 during midday trading on Thursday, hitting $11.49. The company’s stock had a trading volume of 324 shares, compared to its average volume of 414,207. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.32. The stock’s 50-day moving average price is $9.76 and its 200 day moving average price is $9.26. Montauk Renewables has a 1 year low of $6.15 and a 1 year high of $14.93.

Montauk Renewables (NASDAQ:MNTK) last issued its quarterly earnings results on Monday, August 16th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.05). The firm had revenue of $31.67 million for the quarter, compared to the consensus estimate of $30.50 million.

Hedge funds have recently bought and sold shares of the stock. Morgan Stanley increased its position in shares of Montauk Renewables by 48.2% in the second quarter. Morgan Stanley now owns 6,303 shares of the company’s stock valued at $48,000 after acquiring an additional 2,051 shares during the period. Geode Capital Management LLC increased its position in shares of Montauk Renewables by 6.4% during the second quarter. Geode Capital Management LLC now owns 82,646 shares of the company’s stock valued at $633,000 after buying an additional 4,968 shares during the period. JPMorgan Chase & Co. purchased a new stake in Montauk Renewables in the first quarter worth about $66,000. Jane Street Group LLC purchased a new stake in Montauk Renewables in the first quarter worth $117,000. Finally, Renaissance Technologies LLC bought a new stake in shares of Montauk Renewables during the 2nd quarter valued at $174,000. Institutional investors own 1.97% 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. The company develops, owns, and operates renewable natural gas (RNG) projects that capture methane and prevents it from being released into the atmosphere by converting it into either RNG or electrical power for the electrical grid.

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