OPAL Fuels Inc. (NASDAQ:OPAL) Receives Average Recommendation of “Moderate Buy” from Brokerages

OPAL Fuels Inc. (NASDAQ:OPAL) has earned an average rating of “Moderate Buy” from the six ratings firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $7.90.

Several research analysts have issued reports on the company. UBS Group dropped their price target on OPAL Fuels from $8.00 to $7.50 and set a “buy” rating on the stock in a report on Friday, August 9th. The Goldman Sachs Group lowered their price objective on shares of OPAL Fuels from $4.50 to $3.90 and set a “sell” rating on the stock in a research report on Friday, August 9th. B. Riley reissued a “buy” rating and set a $10.00 target price on shares of OPAL Fuels in a research note on Friday, June 7th. Finally, Scotiabank downgraded shares of OPAL Fuels from a “sector outperform” rating to a “sector perform” rating and cut their target price for the company from $8.00 to $5.00 in a research note on Tuesday, September 3rd.

Hedge Funds Weigh In On OPAL Fuels

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of OPAL Fuels by 5.4% in the first quarter. Vanguard Group Inc. now owns 1,674,624 shares of the company’s stock worth $8,407,000 after acquiring an additional 86,531 shares during the last quarter. Grizzlyrock Capital LLC acquired a new position in shares of OPAL Fuels in the fourth quarter worth $4,611,000. SIR Capital Management L.P. increased its stake in shares of OPAL Fuels by 76.3% in the second quarter. SIR Capital Management L.P. now owns 388,049 shares of the company’s stock worth $1,587,000 after acquiring an additional 167,940 shares during the last quarter. Yarra Square Partners LP increased its stake in shares of OPAL Fuels by 18.9% in the fourth quarter. Yarra Square Partners LP now owns 313,900 shares of the company’s stock worth $1,733,000 after acquiring an additional 50,000 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of OPAL Fuels in the second quarter worth $389,000. 12.16% of the stock is owned by institutional investors and hedge funds.

OPAL Fuels Stock Performance

NASDAQ OPAL opened at $3.30 on Wednesday. The stock has a market capitalization of $570.31 million, a P/E ratio of 4.40 and a beta of 0.49. OPAL Fuels has a 1 year low of $3.04 and a 1 year high of $8.46. The business’s fifty day moving average is $3.82 and its two-hundred day moving average is $4.40.

OPAL Fuels (NASDAQ:OPAL) last posted its quarterly earnings results 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 company 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, research analysts forecast that OPAL Fuels will post 0.57 earnings per share for the current 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.