Analysts Set OPAL Fuels Inc. (NASDAQ:OPAL) PT at $8.67

Shares of OPAL Fuels Inc. (NASDAQ:OPAL) have been assigned an average recommendation of “Moderate Buy” from the six analysts that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $8.67.

A number of analysts have recently weighed in on the stock. UBS Group decreased their price target on shares of OPAL Fuels from $11.00 to $8.00 and set a “buy” rating for the company in a research report on Tuesday, March 19th. Piper Sandler decreased their price objective on shares of OPAL Fuels from $13.00 to $8.00 and set an “overweight” rating for the company in a report on Thursday, April 18th. B. Riley reaffirmed a “buy” rating and issued a $10.00 price objective on shares of OPAL Fuels in a report on Friday, June 7th. Scotiabank decreased their price objective on shares of OPAL Fuels from $10.50 to $8.00 and set a “sector outperform” rating for the company in a report on Thursday, April 11th. Finally, The Goldman Sachs Group decreased their price objective on shares of OPAL Fuels from $5.80 to $5.00 and set a “sell” rating for the company in a report on Friday, March 15th.

OPAL Fuels Stock Performance

OPAL stock opened at $3.99 on Friday. OPAL Fuels has a twelve month low of $3.98 and a twelve month high of $8.46. The company has a market capitalization of $688.20 million, a P/E ratio of 5.32 and a beta of 0.50. The firm has a 50 day simple moving average of $4.61 and a 200-day simple moving average of $4.83.

OPAL Fuels (NASDAQ:OPAL) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). OPAL Fuels had a negative return on equity of 1.06% and a net margin of 9.23%. The company had revenue of $64.95 million for the quarter, compared to analyst estimates of $85.18 million. During the same period in the previous year, the business posted ($0.06) EPS. On average, research analysts predict that OPAL Fuels will post 0.57 EPS for the current year.

Insider Buying and Selling at OPAL Fuels

In other OPAL Fuels news, COO Anthony Falbo sold 9,621 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $4.89, for a total value of $47,046.69. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Scott V. Dols acquired 11,192 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The shares were acquired 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 acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Anthony Falbo sold 9,621 shares of OPAL Fuels 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

A number of hedge funds and other institutional investors have recently modified their holdings of OPAL. Advisors Asset Management Inc. grew its holdings in OPAL Fuels by 27.3% during the third quarter. Advisors Asset Management Inc. now owns 43,005 shares of the company’s stock worth $353,000 after acquiring an additional 9,223 shares during the period. DAVENPORT & Co LLC acquired a new position in OPAL Fuels during the fourth quarter worth about $61,000. Levin Capital Strategies L.P. acquired a new position in OPAL Fuels during the first quarter worth about $136,000. Yarra Square Partners LP grew its holdings in OPAL Fuels by 18.9% during the fourth quarter. Yarra Square Partners LP now owns 313,900 shares of the company’s stock worth $1,733,000 after acquiring an additional 50,000 shares during the period. Finally, Vanguard Group Inc. grew its holdings in OPAL Fuels by 5.4% during the first quarter. Vanguard Group Inc. now owns 1,674,624 shares of the company’s stock worth $8,407,000 after acquiring an additional 86,531 shares during the period. 12.16% of the stock is currently owned by institutional investors.

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.