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

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 traded.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. UBS Group decreased their target price on shares of OPAL Fuels from $8.00 to $7.50 and set a “buy” rating for the company in a research report on Friday, August 9th. Scotiabank cut shares of OPAL Fuels from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the stock from $8.00 to $5.00 in a research report on Tuesday, September 3rd. B. Riley restated a “buy” rating and issued 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 $4.50 to $3.90 and set a “sell” rating for the company in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $7.90.

OPAL Fuels Price Performance

The firm’s fifty day moving average price is $3.85 and its 200-day moving average price is $4.43. The firm has a market capitalization of $553.67 million, a P/E ratio of 4.28 and a beta of 0.48.

OPAL Fuels (NASDAQ:OPAL) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.01. The business had revenue of $70.95 million during the quarter, compared to analysts’ expectations of $80.68 million. OPAL Fuels had a net margin of 2.50% and a negative return on equity of 2.14%. Analysts expect that OPAL Fuels Inc. will post 0.57 earnings per share for the current year.

Institutional Trading of OPAL Fuels

A number of large investors have recently added to or reduced their stakes in OPAL. Grizzlyrock Capital LLC bought a new stake in OPAL Fuels during the fourth quarter worth approximately $4,611,000. SIR Capital Management L.P. boosted its holdings in OPAL Fuels by 76.3% during the second quarter. SIR Capital Management L.P. now owns 388,049 shares of the company’s stock worth $1,587,000 after buying an additional 167,940 shares in the last quarter. Marshall Wace LLP bought a new stake in OPAL Fuels during the second quarter worth approximately $389,000. Vanguard Group Inc. boosted its holdings in OPAL Fuels by 5.4% during the first quarter. Vanguard Group Inc. now owns 1,674,624 shares of the company’s stock worth $8,407,000 after buying an additional 86,531 shares in the last quarter. Finally, Yarra Square Partners LP boosted its holdings in OPAL Fuels by 18.9% during the fourth 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 in the last quarter. 12.16% of the stock is currently owned by institutional investors.

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.