Montauk Renewables Inc (MNTK)

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Why is Montauk Renewables Inc (MNTK) Stock down?

We've noticed a 6.01% decline in Montauk Renewables Inc (MNTK) stock during the 2024-04-30 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!

10 Nov, 2023:

Montauk Renewables Inc Stock (MNTK) dropped by 36.82% from $10.24 to $6.47 in the trading on Friday November 10, 2023. The reasons why MNTK stock down today include:

Missed Q3 results: Montauk reported D3 RIN generation fell 8% in the quarter, due to contributing factors including drought weather anomalies of lower than average rainfall and higher than average temperatures. Q3 adjusted earnings of $0.09/share on revenues of $55.7M, compared to analyst expectations for EPS of $0.10 on revenues of $59.4M.
Full-year sales guidance: Montauk trimmed guidance for renewable natural gas revenues to $155M - $160M from $160M - $175M previously. The company also cut guidance for renewable electricity revenues to $17.7M - $18.7M from $18M - $19M previously.