Analysts Set OPAL Fuels Inc. (NASDAQ:OPAL) Target Price at $8.67

OPAL Fuels Inc. (NASDAQ:OPAL) has been given an average recommendation of “Moderate Buy” by the six brokerages that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation and five have given a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $8.67.

A number of brokerages recently weighed in on OPAL. The Goldman Sachs Group reduced their target price on shares of OPAL Fuels from $5.80 to $5.00 and set a “sell” rating for the company in a report on Friday, March 15th. Scotiabank reduced their price objective on OPAL Fuels from $10.50 to $8.00 and set a “sector outperform” rating for the company in a research note on Thursday, April 11th. Piper Sandler cut their target price on OPAL Fuels from $13.00 to $8.00 and set an “overweight” rating on the stock in a research report on Thursday, April 18th. UBS Group decreased their price target on OPAL Fuels from $11.00 to $8.00 and set a “buy” rating for the company in a research report on Tuesday, March 19th. Finally, B. Riley reissued a “buy” rating and issued a $10.00 price target on shares of OPAL Fuels in a research note on Friday, June 7th.

Insider Activity

In other OPAL Fuels news, COO Anthony Falbo sold 9,621 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $4.89, for a total value of $47,046.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Scott V. Dols bought 11,192 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The shares were purchased at an average price of $5.06 per share, for a total transaction of $56,631.52. Following the acquisition, the director now directly owns 34,823 shares of the company’s stock, valued at approximately $176,204.38. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Anthony Falbo sold 9,621 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $4.89, for a total value of $47,046.69. The disclosure for this sale can be found here. 84.43% of the stock is owned by insiders.

Hedge Funds Weigh In On OPAL Fuels

Several large investors have recently added to or reduced their stakes in the company. DAVENPORT & Co LLC bought a new stake in OPAL Fuels in the fourth quarter valued at about $61,000. Levin Capital Strategies L.P. bought a new stake in shares of OPAL Fuels in the 1st quarter valued at approximately $136,000. Advisors Asset Management Inc. raised its holdings in shares of OPAL Fuels by 27.3% in the 3rd quarter. Advisors Asset Management Inc. now owns 43,005 shares of the company’s stock worth $353,000 after buying an additional 9,223 shares in the last quarter. Yarra Square Partners LP lifted its position in shares of 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 buying an additional 50,000 shares during the period. Finally, HITE Hedge Asset Management LLC boosted its stake in OPAL Fuels by 81.8% in the 4th quarter. HITE Hedge Asset Management LLC now owns 383,118 shares of the company’s stock valued at $2,115,000 after buying an additional 172,360 shares in the last quarter. Institutional investors and hedge funds own 12.16% of the company’s stock.

OPAL Fuels Stock Down 1.4 %

Shares of OPAL Fuels stock opened at $4.09 on Friday. The business has a fifty day simple moving average of $4.65 and a 200-day simple moving average of $4.87. OPAL Fuels has a fifty-two week low of $4.09 and a fifty-two week high of $8.46. The firm has a market cap of $705.44 million, a price-to-earnings ratio of 5.45 and a beta of 0.55.

OPAL Fuels (NASDAQ:OPAL) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). The business had revenue of $64.95 million during the quarter, compared to analyst estimates of $85.18 million. OPAL Fuels had a net margin of 9.23% and a negative return on equity of 1.06%. During the same period in the previous year, the company posted ($0.06) earnings per share. Analysts anticipate that OPAL Fuels will post 0.57 earnings per share for the current fiscal year.

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.