Piper Sandler Cuts OPAL Fuels (NASDAQ:OPAL) Price Target to $8.00

OPAL Fuels (NASDAQ:OPAL) had its price target reduced by Piper Sandler from $13.00 to $8.00 in a research note published on Thursday, Benzinga reports. They currently have an overweight rating on the stock.

OPAL has been the subject of several other reports. UBS Group lowered their price target on shares of OPAL Fuels from $11.00 to $8.00 and set a buy rating for the company in a research note on Tuesday, March 19th. Scotiabank lowered their price target on shares of OPAL Fuels from $10.50 to $8.00 and set a sector outperform rating for the company in a research note on Thursday, April 11th. B. Riley lowered their price target on shares of OPAL Fuels from $14.00 to $10.00 and set a buy rating for the company in a research note on Thursday, March 7th. Stifel Nicolaus lowered their price target on shares of OPAL Fuels from $14.00 to $13.00 and set a buy rating for the company in a research note on Tuesday, January 23rd. Finally, The Goldman Sachs Group lowered their price target on shares of OPAL Fuels from $5.80 to $5.00 and set a sell rating for the company in a research note on Friday, March 15th. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, OPAL Fuels currently has a consensus rating of Moderate Buy and a consensus target price of $9.29.

OPAL Fuels Stock Performance

NASDAQ OPAL opened at $4.70 on Thursday. OPAL Fuels has a 52-week low of $4.43 and a 52-week high of $8.46. The company has a market capitalization of $810.67 million, a P/E ratio of 6.71 and a beta of 0.52. The company has a fifty day moving average of $4.84 and a 200-day moving average of $5.47.

OPAL Fuels (NASDAQ:OPAL) last posted its quarterly earnings data on Wednesday, March 13th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.11). OPAL Fuels had a negative return on equity of 1.07% and a net margin of 10.61%. The company had revenue of $87.01 million for the quarter, compared to the consensus estimate of $98.77 million. As a group, analysts forecast that OPAL Fuels will post 0.59 EPS for the current fiscal year.

Hedge Funds Weigh In On OPAL Fuels

Hedge funds have recently modified their holdings of the company. State Street Corp purchased a new position in shares of OPAL Fuels in the first quarter valued at about $72,000. DAVENPORT & Co LLC purchased a new position in shares of OPAL Fuels in the fourth quarter valued at about $61,000. Dimensional Fund Advisors LP purchased a new position in shares of OPAL Fuels in the fourth quarter valued at about $66,000. Millennium Management LLC purchased a new position in shares of OPAL Fuels during the fourth quarter valued at about $90,000. Finally, Morgan Stanley increased its position in shares of OPAL Fuels by 748.8% during the fourth quarter. Morgan Stanley now owns 13,802 shares of the company’s stock valued at $100,000 after buying an additional 12,176 shares during the period. 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.