OPAL Fuels (NASDAQ:OPAL) Stock Price Up 4.7%

OPAL Fuels Inc. (NASDAQ:OPAL) rose 4.7% during mid-day trading on Monday . The stock traded as high as $3.63 and last traded at $3.60. Approximately 73,380 shares traded hands during mid-day trading, a decline of 13% from the average daily volume of 84,519 shares. The stock had previously closed at $3.44.

Analyst Upgrades and Downgrades

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

OPAL Fuels Stock Up 1.4 %

The company has a market cap of $638.18 million, a PE ratio of 4.87 and a beta of 0.48. The business’s fifty day moving average is $3.76 and its 200-day moving average is $4.35.

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

Hedge Funds Weigh In On OPAL Fuels

Several hedge funds have recently modified their holdings of OPAL. Sanctuary Advisors LLC acquired a new position in OPAL Fuels in the 2nd quarter worth approximately $93,000. Levin Capital Strategies L.P. acquired a new stake in shares of OPAL Fuels during the 1st quarter worth approximately $136,000. 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 purchasing an additional 86,531 shares during the period. Marshall Wace LLP acquired a new stake in shares of OPAL Fuels during the 2nd quarter worth approximately $389,000. Finally, SIR Capital Management L.P. grew its stake in shares of OPAL Fuels by 76.3% during the 2nd 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 during the period. Institutional investors and hedge funds 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.