Montauk Renewables (MNTK)
Turns landfill and farm waste into renewable natural gas, electricity, and environmental credits.
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Captures methane from landfill and livestock-waste sites and converts it into renewable natural gas or renewable electricity, monetizing not just the fuel and power but the federal and state environmental credits attached to them, which make up most of its revenue. Listed on Nasdaq since 2021, having spun off from a South African parent.
Captures methane from landfill and livestock-waste sites and converts it into pipeline-quality renewable natural gas or renewable electricity, the company's two reportable segments, with RNG the larger of the two.
Most revenue comes from the environmental credits attached to that output — federal RINs, state low-carbon-fuel-standard credits, and renewable energy credits — rather than the commodity gas or power itself. A handful of refiners and marketers buy most of what is produced.
Facilities are spread across several US states, anchored by a large renewable-electricity site in California, with a swine-waste digester project in North Carolina as the next growth phase.
Began trading on Nasdaq in 2021 after separating from its South African parent, which still holds a large stake and lists the shares secondarily in Johannesburg.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Apr 24, 2026 | UBS | Reiterate | Rating: —Target: $6.25 | Target: $1.60 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $15.8M · Total debt $157.1M · Total assets $470.7M · Shareholders' equity $264.5M
- Revenue
- $54.0M
- Operating income
- −$75.0K
- Net income
- $226.0K
No dividends on record.
| Institutions | 15.41% | 21.93M shares | |
|---|---|---|---|
| 93 holders · as of Jun 30, 2026 | |||
| Insiders | 14.17% | 20.17M shares | |
| 7 holders · as of May 22, 2026 | |||
| Strategic holders | 15.66% | 22.30M shares | |
| 1 holder · as of Nov 10, 2025 | |||
| Other | 54.76% | 77.94M shares | |
| remainder | |||
142.34M company shares as of Sep 23, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Aktiv Investment Management (Pty) Ltd1,2Strategic10 percent owner | 15.66% | 22.30M | filed Nov 10, 2025 |
Peresec Prime Brokers (Pty) LtdInstitution | 15.66% | 22.29M | filed Mar 30, 2021 |
Theventheran (Kevin) G. GovenderInsiderdirector, 10 percent owner | 12.31% | 17.53M | filed Feb 11, 2022 |
BlackRock, Inc.Institution | 3.31% | 4.71M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 1.90% | 2.71M | as of Jun 30, 2026 |
- Aktiv Investment Management (Pty) Ltd's transaction reports restate only vehicles that traded; the 2025 ownership statement (22.30M) is used instead.
- Aktiv Investment Management (Pty) Ltd reports a block also reported by Peresec Prime Brokers (Pty) Ltd; it is counted once, under Peresec Prime Brokers (Pty) Ltd.
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| May 11, 2026 | John A. Copelyn | director | +17,506 | $1.45 |
- Clean Energy Fuels
Largest US RNG vehicle-fuel network, generating roughly 31% of US D3 RINs.
- OPAL
Vertically integrated landfill and dairy RNG producer with downstream fueling.
- WM
In-house RNG buildout at owned landfills, dwarfing the peer set on scale.
- Republic Services
Landfill-gas-to-RNG through the Lightning Renewables JV with bp and Archaea.
- Casella Waste Systems
Northeast landfill-gas-to-RNG platform scaling through Waga Energy partnerships.
- Ameresco
Owns and operates landfill-gas RNG plants across multiple US states.
- Aemetis
California dairy-digester RNG producer monetizing LCFS credits and D3 RINs.
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Montauk Renewables | $2.41 | −7.48% | $370.1M | 46.9 | 17.6 | 2.0 | +19.7% |
| Clean Energy Fuels | $1.67 | −0.88% | $370.0M | — | — | 0.8 | +3.7% |
| OPAL | $1.83 | −6.89% | $55.4M | — | 2.0 | 0.2 | +7.4% |
| WM | $206.85 | −0.40% | $83.01B | 29.4 | 24.2 | 3.2 | +4.0% |
| Republic Services | $213.01 | −0.41% | $65.80B | 30.3 | 27.9 | 3.9 | +4.6% |
| Casella Waste Systems | $83.97 | −2.09% | $5.37B | 920.2 | 63.8 | 2.7 | +16.9% |
| Ameresco | $23.42 | −3.30% | $1.29B | 46.6 | 16.7 | 0.6 | +9.1% |
| Aemetis | $1.99 | −5.91% | $148.8M | — | — | 0.6 | +20.0% |
| Median | 38.4 | 24.2 | 0.8 | +7.4% |