Montauk Renewables rises on report of potential sale
03/08/2022 20:16
** Shares of renewable fuel maker Montauk Renewables Inc
MNTK.O up 6.2% at $13.4
** Shares move higher after Bloomberg reports, citing
sources, that co is exploring options including a potential sale
as more oil companies look to enter the renewable energy sector
(https://bloom.bg/3BCCMJK)
** Report says co is working with adviser to study
strategic alternatives, and no final decisions have been made
** Over 632,000 shares have changed hands, more than twice
the stock's 25-day moving average volume
** Including session's gain, stock is up 31% YTD
(Reporting by Nandhini Srinivasan in Bengaluru)
((Nandhini.srinivasan@thomsonreuters.com))