OPAL Fuels (NASDAQ:OPAL) Hits New 12-Month Low – Here’s What Happened

Shares of OPAL Fuels Inc. (NASDAQ:OPAL) reached a new 52-week low during trading on Thursday . The company traded as low as $3.00 and last traded at $3.01, with a volume of 201794 shares. The stock had previously closed at $3.16.

Analysts Set New Price Targets

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

OPAL Fuels Price Performance

The firm has a 50-day simple moving average of $3.70 and a 200 day simple moving average of $3.81. The stock has a market capitalization of $516.76 million, a P/E ratio of 16.61 and a beta of 0.51.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC increased its holdings in OPAL Fuels by 83.5% in the third quarter. Janus Henderson Group PLC now owns 21,727 shares of the company’s stock valued at $79,000 after purchasing an additional 9,885 shares during the period. Sanctuary Advisors LLC bought a new position in shares of OPAL Fuels during the second quarter worth about $93,000. Marshall Wace LLP bought a new position in shares of OPAL Fuels during the second quarter worth about $389,000. GSA Capital Partners LLP lifted its stake in shares of OPAL Fuels by 69.3% in the third quarter. GSA Capital Partners LLP now owns 96,056 shares of the company’s stock worth $351,000 after acquiring an additional 39,325 shares during the period. Finally, Inspire Investing LLC bought a new stake in OPAL Fuels in the third quarter valued at approximately $430,000. 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.