OPAL Fuels (NASDAQ:OPAL) Sees Large Volume Increase

OPAL Fuels Inc. (NASDAQ:OPAL) shares saw unusually-strong trading volume on Wednesday . Approximately 204,078 shares traded hands during trading, an increase of 208% from the previous session’s volume of 66,319 shares.The stock last traded at $5.00 and had previously closed at $4.88.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. B. Riley decreased their price target on OPAL Fuels from $14.00 to $10.00 and set a “buy” rating on the stock in a research note on Thursday, March 7th. Scotiabank decreased their target price on shares of OPAL Fuels from $10.50 to $8.00 and set a “sector outperform” rating on the stock in a research report on Thursday, April 11th. Stifel Nicolaus lowered their target price on shares of OPAL Fuels from $14.00 to $13.00 and set a “buy” rating for the company in a research note on Tuesday, January 23rd. The Goldman Sachs Group reduced their price target 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. Finally, Piper Sandler lowered their price objective on shares of OPAL Fuels from $13.00 to $8.00 and set an “overweight” rating for the company in a research report on Thursday, April 18th. One research analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $9.29.

OPAL Fuels Stock Up 1.4 %

The company’s 50-day moving average price is $4.81 and its 200-day moving average price is $5.19. The firm has a market cap of $853.79 million, a price-to-earnings ratio of 6.97 and a beta of 0.53.

OPAL Fuels (NASDAQ:OPAL) last released its earnings results on Wednesday, March 13th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.11). OPAL Fuels had a negative return on equity of 1.07% and a net margin of 10.61%. The business had revenue of $87.01 million for the quarter, compared to analyst estimates of $98.77 million. On average, sell-side analysts predict that OPAL Fuels Inc. will post 0.53 earnings per share for the current fiscal year.

Institutional Investors Weigh In On OPAL Fuels

Large investors have recently bought and sold shares of the stock. DAVENPORT & Co LLC acquired a new stake in OPAL Fuels in the fourth quarter valued at $61,000. Bank of New York Mellon Corp acquired a new stake in shares of OPAL Fuels during the 3rd quarter worth about $125,000. Advisors Asset Management Inc. raised its position in shares of OPAL Fuels by 27.3% during the 3rd 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 in the last quarter. Iridian Asset Management LLC CT lifted its stake in OPAL Fuels by 52.9% during the third quarter. Iridian Asset Management LLC CT now owns 74,873 shares of the company’s stock worth $614,000 after purchasing an additional 25,897 shares during the last quarter. Finally, Yarra Square Partners LP boosted its holdings in OPAL Fuels by 18.9% in the fourth quarter. Yarra Square Partners LP now owns 313,900 shares of the company’s stock valued at $1,733,000 after purchasing an additional 50,000 shares in the last quarter. Hedge funds and other 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.