Electron Capital Partners LLC Sells 1,785,014 Shares of OPAL Fuels Inc. (NASDAQ:OPAL)

Electron Capital Partners LLC cut its holdings in OPAL Fuels Inc. (NASDAQ:OPAL) by 99.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,986 shares of the company’s stock after selling 1,785,014 shares during the period. Electron Capital Partners LLC’s holdings in OPAL Fuels were worth $61,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in OPAL. Grizzlyrock Capital LLC purchased a new position in OPAL Fuels during the fourth quarter valued at $4,611,000. Vanguard Group Inc. grew its stake in 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 in the last quarter. SIR Capital Management L.P. grew its stake 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 valued at $1,587,000 after acquiring an additional 167,940 shares in the last quarter. Levin Capital Strategies L.P. purchased a new position in OPAL Fuels during the first quarter valued at $136,000. Finally, Marshall Wace LLP purchased a new position in OPAL Fuels during the second quarter valued at $389,000. 12.16% of the stock is currently owned by institutional investors.

OPAL Fuels Stock Performance

Shares of OPAL opened at $3.53 on Thursday. The company has a 50 day moving average price of $3.69 and a 200-day moving average price of $4.31. OPAL Fuels Inc. has a fifty-two week low of $3.04 and a fifty-two week high of $8.46. The stock has a market capitalization of $608.86 million, a PE ratio of 4.71 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 EPS for the quarter, topping the consensus estimate of $0.10 by $0.01. The firm had revenue of $70.95 million during the quarter, compared to analyst estimates of $80.68 million. OPAL Fuels had a net margin of 2.50% and a negative return on equity of 2.14%. Equities research analysts forecast that OPAL Fuels Inc. will post 0.57 EPS for the current year.

Analyst Upgrades and Downgrades

OPAL has been the subject of several research analyst reports. Scotiabank cut 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. B. Riley reiterated a “buy” rating and set a $10.00 price objective on shares of OPAL Fuels in a research report on Friday, June 7th. UBS Group lowered their price objective 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. Finally, The Goldman Sachs Group lowered their price objective 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 investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, OPAL Fuels presently has an average rating of “Moderate Buy” and an average price target of $7.90.

OPAL Fuels 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.