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

Shares of OPAL Fuels Inc. (NASDAQ:OPAL) have been given a consensus recommendation of “Moderate Buy” by the six ratings firms that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $8.67.

Several research firms have recently commented on OPAL. Piper Sandler dropped their price objective 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. Scotiabank lowered their price target on shares of OPAL Fuels from $10.50 to $8.00 and set a “sector outperform” rating on the stock in a report on Thursday, April 11th. B. Riley reissued a “buy” rating and set a $10.00 price target on shares of OPAL Fuels in a report on Friday, June 7th. UBS Group lowered their price target on shares of OPAL Fuels from $11.00 to $8.00 and set a “buy” rating on the stock in a report on Tuesday, March 19th. Finally, The Goldman Sachs Group lowered their price target on shares of OPAL Fuels from $5.80 to $5.00 and set a “sell” rating on the stock in a report on Friday, March 15th.

OPAL Fuels Price Performance

OPAL stock opened at $4.15 on Friday. The firm’s fifty day simple moving average is $4.67 and its 200-day simple moving average is $4.89. The company has a market capitalization of $715.79 million, a P/E ratio of 5.53 and a beta of 0.55. OPAL Fuels has a 12 month low of $4.09 and a 12 month high of $8.46.

OPAL Fuels (NASDAQ:OPAL) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.03). The business had revenue of $64.95 million during 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 period last year, the company earned ($0.06) earnings per share. As a group, sell-side analysts forecast that OPAL Fuels will post 0.57 earnings per share for the current year.

Insiders Place Their Bets

In other OPAL Fuels news, Director Scott V. Dols bought 11,192 shares of OPAL Fuels stock in a transaction dated Monday, May 20th. The stock was acquired at an average cost of $5.06 per share, for a total transaction of $56,631.52. Following the completion of the transaction, the director now directly owns 34,823 shares of the company’s stock, valued at $176,204.38. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other OPAL Fuels news, Director Scott V. Dols bought 11,192 shares of OPAL Fuels stock in a transaction dated Monday, May 20th. The stock was acquired at an average cost of $5.06 per share, for a total transaction of $56,631.52. Following the completion of the transaction, the director now directly owns 34,823 shares of the company’s stock, valued at $176,204.38. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Anthony Falbo sold 9,621 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $4.89, for a total transaction of $47,046.69. The disclosure for this sale can be found here. 84.43% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On OPAL Fuels

Hedge funds have recently modified their holdings of the company. Grizzlyrock Capital LLC purchased a new stake in shares of OPAL Fuels in the fourth quarter valued at about $4,611,000. DAVENPORT & Co LLC purchased a new stake in shares of OPAL Fuels in the fourth quarter valued at about $61,000. Invesco Ltd. purchased a new stake in shares of OPAL Fuels in the third quarter valued at about $7,816,000. Yarra Square Partners LP grew its holdings in shares of 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 purchasing an additional 50,000 shares during the period. Finally, Advisors Asset Management Inc. grew its holdings in shares of OPAL Fuels by 27.3% in the third quarter. Advisors Asset Management Inc. now owns 43,005 shares of the company’s stock valued at $353,000 after purchasing an additional 9,223 shares during the period. Hedge funds and other institutional investors 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.