OPAL Fuels Inc. (NASDAQ:OPAL) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of OPAL Fuels Inc. (NASDAQ:OPAL) have been given an average recommendation of “Moderate Buy” by the six research firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $7.90.

OPAL has been the topic of a number of recent research reports. B. Riley reissued a “buy” rating and set a $10.00 target price on shares of OPAL Fuels in a research report on Friday, June 7th. Scotiabank cut shares of OPAL Fuels from a “sector outperform” rating to a “sector perform” rating and cut their target price for the company from $8.00 to $5.00 in a research note on Tuesday, September 3rd. The Goldman Sachs Group dropped their price objective on shares of OPAL Fuels from $4.50 to $3.90 and set a “sell” rating for the company in a research report on Friday, August 9th. Finally, UBS Group lowered their target price on shares of OPAL Fuels from $8.00 to $7.50 and set a “buy” rating for the company in a report on Friday, August 9th.

OPAL Fuels Trading Up 3.1 %

NASDAQ OPAL opened at $3.65 on Wednesday. OPAL Fuels has a 1-year low of $3.04 and a 1-year high of $8.46. The company has a market capitalization of $629.56 million, a PE ratio of 4.72 and a beta of 0.48. The firm’s fifty day simple moving average is $3.77 and its 200-day simple moving average is $4.36.

OPAL Fuels (NASDAQ:OPAL) last posted its quarterly 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 net margin of 2.50% and a negative return on equity of 2.14%. The business had revenue of $70.95 million for the quarter, compared to the consensus estimate of $80.68 million. As a group, analysts predict that OPAL Fuels will post 0.57 EPS for the current year.

Institutional Trading of OPAL Fuels

Hedge funds have recently added to or reduced their stakes in the stock. Yarra Square Partners LP grew its stake in 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 acquiring an additional 50,000 shares in the last quarter. Grizzlyrock Capital LLC bought a new stake in OPAL Fuels during the 4th quarter valued at $4,611,000. Vanguard Group Inc. raised its holdings in OPAL Fuels by 5.4% during the 1st quarter. Vanguard Group Inc. now owns 1,674,624 shares of the company’s stock valued at $8,407,000 after buying an additional 86,531 shares during the last quarter. Levin Capital Strategies L.P. purchased a new stake in shares of OPAL Fuels in the 1st quarter worth about $136,000. Finally, SIR Capital Management L.P. increased its stake in shares of OPAL Fuels by 76.3% in the 2nd quarter. SIR Capital Management L.P. now owns 388,049 shares of the company’s stock worth $1,587,000 after acquiring an additional 167,940 shares in the last quarter. 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.