Montauk Renewables (NASDAQ:MNTK) Board of Directors Authorizes Stock Repurchase Program

Montauk Renewables (NASDAQ:MNTK) declared that its Board of Directors has initiated a share buyback program on Tuesday, April 15th, RTT News reports. The company plans to buyback $5.00 million in outstanding shares. This buyback authorization allows the company to buy up to 1.8% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Montauk Renewables Trading Down 3.9 %

Montauk Renewables stock traded down $0.08 during trading hours on Tuesday, hitting $1.99. The stock had a trading volume of 195,674 shares, compared to its average volume of 219,773. The business’s 50 day simple moving average is $2.94 and its 200-day simple moving average is $4.05. Montauk Renewables has a one year low of $1.75 and a one year high of $6.22. The stock has a market cap of $285.24 million, a price-to-earnings ratio of 12.44 and a beta of 0.05. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.17.

Montauk Renewables (NASDAQ:MNTK) last posted its earnings results on Thursday, March 13th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.11). The business had revenue of $27.74 million for the quarter, compared to the consensus estimate of $59.92 million. Montauk Renewables had a return on equity of 8.88% and a net margin of 11.80%. On average, equities analysts predict that Montauk Renewables will post 0.19 EPS for the current fiscal year.

Analyst Ratings Changes

MNTK has been the subject of a number of recent analyst reports. UBS Group cut their target price on Montauk Renewables from $6.25 to $3.00 and set a “neutral” rating for the company in a research report on Friday, March 14th. B. Riley reduced their price objective on Montauk Renewables from $4.00 to $3.00 and set a “neutral” rating on the stock in a research note on Friday, March 14th. Finally, Scotiabank lowered their target price on Montauk Renewables from $6.00 to $4.00 and set a “sector perform” rating for the company in a research note on Friday.

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.