OPAL Fuels (NASDAQ:OPAL) Shares Gap Up to $3.51

Shares of OPAL Fuels Inc. (NASDAQ:OPAL) gapped up prior to trading on Friday . The stock had previously closed at $3.51, but opened at $3.68. OPAL Fuels shares last traded at $3.68, with a volume of 250 shares.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on OPAL shares. Scotiabank cut OPAL Fuels from a “sector outperform” rating to a “sector perform” rating and cut their price target for the stock from $8.00 to $5.00 in a report on Tuesday. UBS Group reduced their price target on shares of OPAL Fuels from $8.00 to $7.50 and set a “buy” rating for the company in a report on Friday, August 9th. The Goldman Sachs Group dropped their price objective on shares of OPAL Fuels from $4.50 to $3.90 and set a “sell” rating on the stock in a report on Friday, August 9th. Finally, B. Riley restated a “buy” rating and issued a $10.00 target price on shares of OPAL Fuels in a research note on Friday, June 7th. One equities research 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’s stock. According to data from MarketBeat, OPAL Fuels has an average rating of “Moderate Buy” and a consensus target price of $7.90.

OPAL Fuels Stock Down 0.3 %

The stock has a market capitalization of $603.69 million, a PE ratio of 4.68 and a beta of 0.50. The firm has a 50 day moving average price of $3.86 and a 200 day moving average price of $4.44.

OPAL Fuels (NASDAQ:OPAL) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.01. The business 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%. On average, equities analysts forecast that OPAL Fuels Inc. will post 0.57 earnings per share for the current fiscal year.

Institutional Investors Weigh In On OPAL Fuels

Hedge funds have recently made changes to their positions in the business. Grizzlyrock Capital LLC purchased a new position in shares of OPAL Fuels in the fourth quarter worth about $4,611,000. Yarra Square Partners LP lifted its holdings in OPAL Fuels by 18.9% during the 4th 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 in the last quarter. Vanguard Group Inc. boosted its stake in OPAL Fuels by 5.4% in the 1st quarter. Vanguard Group Inc. now owns 1,674,624 shares of the company’s stock worth $8,407,000 after purchasing an additional 86,531 shares during the period. Levin Capital Strategies L.P. purchased a new position in OPAL Fuels during the 1st quarter valued at about $136,000. Finally, Sanctuary Advisors LLC bought a new stake in shares of OPAL Fuels during the second quarter valued at about $93,000. 12.16% of the stock is currently owned by institutional investors.

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.