OPAL Fuels (NASDAQ:OPAL) Trading Down 3.2% – What’s Next?

OPAL Fuels Inc. (NASDAQ:OPAL)’s stock price was down 3.2% during mid-day trading on Monday . The company traded as low as $3.90 and last traded at $3.91. Approximately 18,999 shares were traded during trading, a decline of 78% from the average daily volume of 87,881 shares. The stock had previously closed at $4.04.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on OPAL shares. Scotiabank downgraded OPAL Fuels from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the company from $8.00 to $5.00 in a research note on Tuesday, September 3rd. UBS Group cut their price objective on OPAL Fuels from $8.00 to $7.50 and set a “buy” rating for the company in a research note on Friday, August 9th. Finally, The Goldman Sachs Group cut their price objective on OPAL Fuels from $4.50 to $3.90 and set a “sell” rating for the company in a research note on Friday, August 9th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $7.90.

OPAL Fuels Stock Performance

The stock has a fifty day moving average of $3.59 and a 200 day moving average of $4.20. The company has a market capitalization of $653.71 million, a PE ratio of 5.39 and a beta of 0.49.

OPAL Fuels (NASDAQ:OPAL) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. The company had revenue of $70.95 million for the quarter, compared to analysts’ expectations of $80.68 million. OPAL Fuels had a negative return on equity of 2.14% and a net margin of 2.50%. As a group, equities analysts predict that OPAL Fuels Inc. will post 0.45 EPS for the current year.

Institutional Trading of OPAL Fuels

Several hedge funds have recently modified their holdings of the company. Inspire Investing LLC purchased a new stake in shares of OPAL Fuels during the 3rd quarter worth approximately $430,000. Sanctuary Advisors LLC purchased a new stake in shares of OPAL Fuels during the 2nd quarter worth approximately $93,000. Marshall Wace LLP purchased a new stake in shares of OPAL Fuels during the 2nd quarter worth approximately $389,000. SIR Capital Management L.P. increased its position 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 valued at $1,587,000 after purchasing an additional 167,940 shares during the last quarter. Finally, Levin Capital Strategies L.P. bought a new position in shares of OPAL Fuels during the 1st quarter valued at approximately $136,000. 12.16% of the stock is owned by hedge funds and other 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.