OPAL Fuels (NASDAQ:OPAL) Reaches New 1-Year Low at $4.06

OPAL Fuels Inc. (NASDAQ:OPAL)’s share price reached a new 52-week low on Tuesday . The stock traded as low as $4.06 and last traded at $4.06, with a volume of 1146 shares changing hands. The stock had previously closed at $4.07.

Wall Street Analyst Weigh In

Several research firms have weighed in on OPAL. Scotiabank lowered their price target on shares of OPAL Fuels from $10.50 to $8.00 and set a “sector outperform” rating on the stock in a report on Thursday, April 11th. UBS Group decreased their target price on shares of OPAL Fuels from $11.00 to $8.00 and set a “buy” rating on the stock in a research report on Tuesday, March 19th. Piper Sandler decreased their target price on shares of OPAL Fuels from $13.00 to $8.00 and set an “overweight” rating on the stock in a research report on Thursday, April 18th. B. Riley restated a “buy” rating and set a $10.00 target price on shares of OPAL Fuels in a research report on Friday, June 7th. Finally, The Goldman Sachs Group decreased their target price on shares of OPAL Fuels from $5.80 to $5.00 and set a “sell” rating on the stock in a research report on Friday, March 15th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $8.67.

OPAL Fuels Trading Down 0.2 %

The firm has a market cap of $700.27 million, a price-to-earnings ratio of 5.43 and a beta of 0.50. The company’s 50-day moving average is $4.65 and its 200-day moving average is $4.86.

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

Insider Buying and Selling

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

Institutional Trading of OPAL Fuels

A number of hedge funds have recently added to or reduced their stakes in OPAL. Vanguard Group Inc. raised its stake in shares of OPAL Fuels by 5.4% during the first quarter. Vanguard Group Inc. now owns 1,674,624 shares of the company’s stock valued at $8,407,000 after acquiring an additional 86,531 shares during the last quarter. Invesco Ltd. bought a new position in shares of OPAL Fuels during the third quarter valued at $7,816,000. Grizzlyrock Capital LLC bought a new position in shares of OPAL Fuels during the fourth quarter valued at $4,611,000. HITE Hedge Asset Management LLC raised its stake in shares of OPAL Fuels by 81.8% during the fourth quarter. HITE Hedge Asset Management LLC now owns 383,118 shares of the company’s stock valued at $2,115,000 after acquiring an additional 172,360 shares during the last quarter. Finally, Yarra Square Partners LP raised its stake in shares of OPAL Fuels by 18.9% during the fourth quarter. Yarra Square Partners LP now owns 313,900 shares of the company’s stock valued at $1,733,000 after acquiring an additional 50,000 shares during the last quarter. Institutional investors and hedge funds own 12.16% of the company’s stock.

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.