OPAL Fuels Inc. (NASDAQ:OPAL) Short Interest Update

OPAL Fuels Inc. (NASDAQ:OPAL) saw a large increase in short interest in the month of June. As of June 30th, there was short interest totalling 733,200 shares, an increase of 20.1% from the June 15th total of 610,600 shares. Based on an average trading volume of 76,900 shares, the short-interest ratio is currently 9.5 days. Approximately 4.2% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

OPAL has been the subject of several research analyst reports. Scotiabank dropped 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 report on Thursday, April 11th. B. Riley restated a “buy” rating and issued a $10.00 price objective on shares of OPAL Fuels in a report on Friday, June 7th. Piper Sandler cut their price target on shares of OPAL Fuels from $13.00 to $8.00 and set an “overweight” rating on the stock in a report on Thursday, April 18th. Finally, UBS Group reduced 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 report on Tuesday, March 19th. One analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, OPAL Fuels presently has an average rating of “Moderate Buy” and an average target price of $8.67.

Insider Activity

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

Hedge Funds Weigh In On OPAL Fuels

Institutional investors have recently added to or reduced their stakes in the company. Levin Capital Strategies L.P. acquired a new position in shares of OPAL Fuels in the 1st quarter valued at approximately $136,000. Vanguard Group Inc. raised its stake in shares of OPAL Fuels by 5.4% in the 1st quarter. Vanguard Group Inc. now owns 1,674,624 shares of the company’s stock valued at $8,407,000 after purchasing an additional 86,531 shares in the last quarter. Grizzlyrock Capital LLC bought a new position in shares of OPAL Fuels during the fourth quarter worth about $4,611,000. HITE Hedge Asset Management LLC lifted its position in shares of OPAL Fuels by 81.8% during the fourth quarter. HITE Hedge Asset Management LLC now owns 383,118 shares of the company’s stock worth $2,115,000 after purchasing an additional 172,360 shares during the last quarter. Finally, Yarra Square Partners LP increased its holdings in OPAL Fuels by 18.9% in 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. Institutional investors and hedge funds own 12.16% of the company’s stock.

OPAL Fuels Stock Performance

Shares of NASDAQ:OPAL traded down $0.06 during mid-day trading on Tuesday, hitting $4.18. 20,402 shares of the company traded hands, compared to its average volume of 73,502. The firm’s 50 day simple moving average is $4.51 and its 200 day simple moving average is $4.75. The firm has a market cap of $720.97 million, a P/E ratio of 5.60 and a beta of 0.50. OPAL Fuels has a 52-week low of $3.93 and a 52-week high of $8.46.

OPAL Fuels (NASDAQ:OPAL) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). The firm 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 quarter in the prior year, the business earned ($0.06) EPS. Equities research analysts expect that OPAL Fuels will post 0.57 EPS for the current fiscal year.

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.