OPAL Fuels (NASDAQ:OPAL) Shares Up 7% – Here’s What Happened

OPAL Fuels Inc. (NASDAQ:OPAL)’s stock price was up 7% during mid-day trading on Monday . The company traded as high as $3.20 and last traded at $3.20. Approximately 98,962 shares were traded during mid-day trading, an increase of 14% from the average daily volume of 86,852 shares. The stock had previously closed at $2.99.

Analyst Upgrades and Downgrades

Separately, Scotiabank cut shares of OPAL Fuels from a “sector outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $8.00 to $5.00 in a research note on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, OPAL Fuels has an average rating of “Moderate Buy” and an average target price of $7.90.

OPAL Fuels Price Performance

The firm has a market capitalization of $563.42 million, a PE ratio of 18.11 and a beta of 0.51. The company’s fifty day simple moving average is $3.67 and its 200-day simple moving average is $3.78.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of OPAL. Yaupon Capital Management LP raised its holdings in shares of OPAL Fuels by 17.0% during the third quarter. Yaupon Capital Management LP now owns 700,054 shares of the company’s stock valued at $2,555,000 after acquiring an additional 101,955 shares during the last quarter. SIR Capital Management L.P. raised its stake in OPAL Fuels by 76.3% in 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. Geode Capital Management LLC lifted its holdings in OPAL Fuels by 19.1% in the 3rd quarter. Geode Capital Management LLC now owns 257,549 shares of the company’s stock valued at $940,000 after purchasing an additional 41,250 shares in the last quarter. Inspire Investing LLC acquired a new stake in OPAL Fuels during the 3rd quarter worth $430,000. Finally, GSA Capital Partners LLP grew its holdings in shares of OPAL Fuels by 69.3% during the third quarter. GSA Capital Partners LLP now owns 96,056 shares of the company’s stock worth $351,000 after buying an additional 39,325 shares in the last quarter. 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.