OPAL Fuels (NASDAQ:OPAL) Shares Up 6.5%

OPAL Fuels Inc. (NASDAQ:OPAL) shares rose 6.5% during trading on Friday . The stock traded as high as $4.28 and last traded at $4.28. Approximately 45,633 shares traded hands during mid-day trading, a decline of 38% from the average daily volume of 73,286 shares. The stock had previously closed at $4.02.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on OPAL. B. Riley reissued a “buy” rating and issued a $10.00 target price on shares of OPAL Fuels in a research report on Friday, June 7th. Piper Sandler reduced their target price on shares of OPAL Fuels from $13.00 to $8.00 and set an “overweight” rating on the stock in a research report on Thursday, April 18th. Scotiabank cut their price objective on shares of OPAL Fuels from $10.50 to $8.00 and set a “sector outperform” rating on the stock in a report on Thursday, April 11th. The Goldman Sachs Group dropped their target price on OPAL Fuels from $5.80 to $5.00 and set a “sell” rating on the stock in a report on Friday, March 15th. Finally, UBS Group dropped their price target on shares of OPAL Fuels from $11.00 to $8.00 and set a “buy” rating on the stock in a research note on Tuesday, March 19th. One analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $8.67.

OPAL Fuels Stock Performance

The stock has a market capitalization of $745.11 million, a P/E ratio of 5.67 and a beta of 0.50. The firm has a fifty day moving average price of $4.54 and a two-hundred day moving average price of $4.78.

OPAL Fuels (NASDAQ:OPAL) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.03). The business had revenue of $64.95 million for the quarter, compared to analysts’ expectations of $85.18 million. OPAL Fuels had a net margin of 9.23% and a negative return on equity of 1.06%. During the same period in the previous year, the company earned ($0.06) EPS. On average, research analysts anticipate that OPAL Fuels Inc. will post 0.57 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Anthony Falbo sold 9,621 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $4.89, for a total value of $47,046.69. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other OPAL Fuels news, COO Anthony Falbo sold 9,621 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $4.89, for a total transaction of $47,046.69. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Scott V. Dols purchased 11,192 shares of the stock in a transaction on Monday, May 20th. The shares were purchased at an average cost of $5.06 per share, for a total transaction of $56,631.52. Following the acquisition, the director now directly owns 34,823 shares of the company’s stock, valued at $176,204.38. The disclosure for this purchase can be found here. Insiders own 84.43% of the company’s stock.

Institutional Investors Weigh In On OPAL Fuels

A number of institutional investors have recently bought and sold shares of OPAL. Levin Capital Strategies L.P. bought a new position in shares of OPAL Fuels in the first quarter worth about $136,000. Vanguard Group Inc. lifted its holdings in OPAL Fuels by 5.4% in the 1st quarter. Vanguard Group Inc. now owns 1,674,624 shares of the company’s stock worth $8,407,000 after purchasing an additional 86,531 shares in the last quarter. Grizzlyrock Capital LLC bought a new position in OPAL Fuels in the 4th quarter worth approximately $4,611,000. HITE Hedge Asset Management LLC grew its holdings in OPAL Fuels by 81.8% during the 4th quarter. HITE Hedge Asset Management LLC now owns 383,118 shares of the company’s stock valued at $2,115,000 after buying an additional 172,360 shares in the last quarter. Finally, Yarra Square Partners LP raised its position in shares of OPAL Fuels by 18.9% during the fourth quarter. Yarra Square Partners LP now owns 313,900 shares of the company’s stock valued at $1,733,000 after buying an additional 50,000 shares during the last quarter. Hedge funds and other institutional investors own 12.16% of the company’s stock.

OPAL Fuels Company Profile

OPAL Fuels Inc, together with its subsidiaries, engages in the production and distribution of renewable natural gas for use as a vehicle fuel for heavy and medium-duty trucking fleets. It also designs, develops, constructs, operates, and services fueling stations for trucking fleets that use natural gas to displace diesel as transportation fuel.