Scotiabank Lowers OPAL Fuels (NASDAQ:OPAL) to Sector Perform

Scotiabank cut shares of OPAL Fuels (NASDAQ:OPAL) from a sector outperform rating to a sector perform rating in a research report report published on Tuesday morning, Marketbeat reports. They currently have $5.00 target price on the stock, down from their prior target price of $8.00.

A number of other brokerages have also recently issued reports on OPAL. UBS Group lowered their price objective on OPAL Fuels from $8.00 to $7.50 and set a buy rating on the stock in a research note on Friday, August 9th. B. Riley reissued a buy rating and issued a $10.00 price target on shares of OPAL Fuels in a research report on Friday, June 7th. Finally, The Goldman Sachs Group cut their price objective on shares of OPAL Fuels from $4.50 to $3.90 and set a sell rating for the company in a report on Friday, August 9th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $7.90.

OPAL Fuels Trading Down 8.5 %

NASDAQ:OPAL opened at $3.21 on Tuesday. OPAL Fuels has a 12 month low of $3.20 and a 12 month high of $8.46. The firm’s 50 day moving average is $3.85 and its 200 day moving average is $4.43. The stock has a market capitalization of $553.67 million, a PE ratio of 4.28 and a beta of 0.50.

OPAL Fuels (NASDAQ:OPAL) last released its earnings results on Wednesday, August 7th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. OPAL Fuels had a negative return on equity of 2.14% and a net margin of 2.50%. The business had revenue of $70.95 million during the quarter, compared to the consensus estimate of $80.68 million. Research analysts predict that OPAL Fuels will post 0.57 earnings per share for the current year.

Hedge Funds Weigh In On OPAL Fuels

Large investors have recently modified their holdings of the company. Grizzlyrock Capital LLC bought a new position in OPAL Fuels in the 4th quarter worth about $4,611,000. Yarra Square Partners LP grew its holdings 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 worth $1,733,000 after purchasing an additional 50,000 shares in the last quarter. Vanguard Group Inc. increased its position in shares of OPAL Fuels by 5.4% in the first 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 during the last quarter. Levin Capital Strategies L.P. purchased a new stake in OPAL Fuels in the first quarter valued at approximately $136,000. Finally, Sanctuary Advisors LLC bought a new stake in OPAL Fuels during the second quarter valued at approximately $93,000. 12.16% of the stock is currently owned by institutional investors.

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.