OPAL Fuels (NASDAQ:OPAL) Trading Up 6.5%

Shares of OPAL Fuels Inc. (NASDAQ:OPAL) traded up 6.5% on Friday . The company traded as high as $4.28 and last traded at $4.28. 45,633 shares traded hands during mid-day trading, a decline of 38% from the average session volume of 73,286 shares. The stock had previously closed at $4.02.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Scotiabank decreased their price objective on OPAL Fuels from $10.50 to $8.00 and set a “sector outperform” rating for the company in a research note on Thursday, April 11th. Piper Sandler lowered their price target on OPAL Fuels from $13.00 to $8.00 and set an “overweight” rating for the company in a research note on Thursday, April 18th. The Goldman Sachs Group reduced their price objective on shares of OPAL Fuels from $5.80 to $5.00 and set a “sell” rating on the stock in a research note on Friday, March 15th. B. Riley restated a “buy” rating and set a $10.00 price objective on shares of OPAL Fuels in a report on Friday, June 7th. Finally, UBS Group cut their target price 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. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, OPAL Fuels currently has an average rating of “Moderate Buy” and an average price target of $8.67.

OPAL Fuels Stock Performance

The company has a 50-day moving average of $4.54 and a 200-day moving average of $4.78. The firm has a market capitalization of $745.11 million, a price-to-earnings ratio of 5.67 and a beta of 0.50.

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 the consensus estimate of $0.02 by ($0.03). The company had revenue of $64.95 million during the quarter, compared to analyst estimates 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 last year, the company earned ($0.06) EPS. As a group, analysts anticipate that OPAL Fuels Inc. will post 0.57 EPS for the current fiscal year.

Insider Activity

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

Institutional Investors Weigh In On OPAL Fuels

A number of institutional investors and hedge funds have recently made changes to their positions in OPAL. Vanguard Group Inc. raised its position 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 in the last quarter. Grizzlyrock Capital LLC bought a new stake in shares of OPAL Fuels in the 4th quarter valued at about $4,611,000. HITE Hedge Asset Management LLC lifted its stake in OPAL Fuels by 81.8% in the 4th quarter. HITE Hedge Asset Management LLC now owns 383,118 shares of the company’s stock valued at $2,115,000 after purchasing an additional 172,360 shares during the last quarter. 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 purchasing an additional 50,000 shares during the period. Finally, Levin Capital Strategies L.P. acquired a new position in OPAL Fuels during the first quarter worth approximately $136,000. Institutional investors 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.