OPAL Fuels (NASDAQ:OPAL) Shares Up 7% – Here’s What Happened

OPAL Fuels Inc. (NASDAQ:OPAL)’s stock price was up 7% during mid-day trading on Monday . The company traded as high as $3.20 and last traded at $3.20. Approximately 98,962 shares traded hands during mid-day trading, an increase of 14% from the average daily volume of 86,852 shares. The stock had previously closed at $2.99.

Analysts Set New Price Targets

Separately, Scotiabank lowered shares of OPAL Fuels from a “sector outperform” rating to a “sector perform” rating and cut their target price for the stock from $8.00 to $5.00 in a research report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $7.90.

OPAL Fuels Stock Performance

The company’s 50 day moving average is $3.70 and its 200 day moving average is $3.80. The stock has a market capitalization of $549.60 million, a price-to-earnings ratio of 17.67 and a beta of 0.51.

Hedge Funds Weigh In On OPAL Fuels

Large investors have recently added to or reduced their stakes in the company. Janus Henderson Group PLC lifted its holdings in shares of OPAL Fuels by 83.5% during the 3rd quarter. Janus Henderson Group PLC now owns 21,727 shares of the company’s stock worth $79,000 after acquiring an additional 9,885 shares during the period. Sanctuary Advisors LLC acquired a new stake in OPAL Fuels during the second quarter valued at approximately $93,000. Marshall Wace LLP acquired a new stake in OPAL Fuels during the second quarter valued at approximately $389,000. GSA Capital Partners LLP grew its stake in shares of OPAL Fuels by 69.3% in the 3rd quarter. GSA Capital Partners LLP now owns 96,056 shares of the company’s stock valued at $351,000 after purchasing an additional 39,325 shares during the period. Finally, Inspire Investing LLC acquired a new position in shares of OPAL Fuels in the 3rd quarter worth approximately $430,000. Institutional investors and hedge funds own 12.16% of the company’s stock.

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.