OPAL Fuels (NASDAQ:OPAL) Sees Unusually-High Trading Volume

OPAL Fuels Inc. (NASDAQ:OPAL) saw an uptick in trading volume on Wednesday . 423,190 shares were traded during trading, an increase of 401% from the previous session’s volume of 84,474 shares.The stock last traded at $3.28 and had previously closed at $3.30.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on OPAL shares. The Goldman Sachs Group reduced their price target on OPAL Fuels from $4.50 to $3.90 and set a “sell” rating for the company in a report on Friday, August 9th. B. Riley reiterated a “buy” rating and issued a $10.00 target price on shares of OPAL Fuels in a research note on Friday, June 7th. UBS Group lowered their target price on shares of OPAL Fuels from $8.00 to $7.50 and set a “buy” rating on the stock in a research report on Friday, August 9th. Finally, Scotiabank downgraded OPAL Fuels from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the company from $8.00 to $5.00 in a research note on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $7.90.

OPAL Fuels Stock Up 2.4 %

The stock has a fifty day moving average of $3.79 and a 200-day moving average of $4.39. The firm has a market capitalization of $594.50 million, a P/E ratio of 4.59 and a beta of 0.48.

OPAL Fuels (NASDAQ:OPAL) last released its earnings results on Wednesday, August 7th. The company reported $0.11 earnings per share 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 company had revenue of $70.95 million during the quarter, compared to the consensus estimate of $80.68 million. As a group, analysts forecast that OPAL Fuels Inc. will post 0.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Grizzlyrock Capital LLC bought a new stake in shares of OPAL Fuels in the fourth quarter valued at about $4,611,000. Yarra Square Partners LP lifted its stake in OPAL Fuels by 18.9% in the 4th quarter. Yarra Square Partners LP now owns 313,900 shares of the company’s stock valued at $1,733,000 after acquiring an additional 50,000 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of OPAL Fuels by 5.4% during the 1st quarter. Vanguard Group Inc. now owns 1,674,624 shares of the company’s stock worth $8,407,000 after acquiring an additional 86,531 shares in the last quarter. SIR Capital Management L.P. lifted its position in shares of OPAL Fuels by 76.3% in the second quarter. SIR Capital Management L.P. now owns 388,049 shares of the company’s stock worth $1,587,000 after purchasing an additional 167,940 shares in the last quarter. Finally, Levin Capital Strategies L.P. bought a new position in OPAL Fuels in the first quarter valued at $136,000. 12.16% of the stock is currently owned by institutional investors and hedge funds.

About OPAL Fuels

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.