OPAL Fuels Inc. (NASDAQ:OPAL) Given Average Rating of “Moderate Buy” by Brokerages

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

Several brokerages have recently commented on OPAL. The Goldman Sachs Group reduced their target price on OPAL Fuels from $4.50 to $3.90 and set a “sell” rating on the stock in a report on Friday, August 9th. UBS Group dropped 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. Finally, Scotiabank cut shares of OPAL Fuels from a “sector outperform” rating to a “sector perform” rating and dropped their target price for the company from $8.00 to $5.00 in a research report on Tuesday, September 3rd.

OPAL Fuels Stock Down 2.8 %

Shares of OPAL opened at $3.78 on Thursday. OPAL Fuels has a 12-month low of $3.04 and a 12-month high of $6.47. The firm has a market capitalization of $651.98 million, a price-to-earnings ratio of 5.04 and a beta of 0.49. The stock’s 50-day moving average price is $3.64 and its 200 day moving average price is $4.11.

OPAL Fuels (NASDAQ:OPAL) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. The company had revenue of $70.95 million for the quarter, compared to the consensus estimate of $80.68 million. OPAL Fuels had a negative return on equity of 2.14% and a net margin of 2.50%. Equities research analysts expect that OPAL Fuels will post 0.45 EPS for the current year.

Hedge Funds Weigh In On OPAL Fuels

A number of large investors have recently modified their holdings of the business. Sanctuary Advisors LLC acquired a new stake in OPAL Fuels in the 2nd quarter valued at about $93,000. Levin Capital Strategies L.P. acquired a new stake in OPAL Fuels in the 1st quarter valued at about $136,000. Marshall Wace LLP acquired a new stake in OPAL Fuels in the 2nd quarter valued at about $389,000. Inspire Investing LLC bought a new position in OPAL Fuels in the 3rd quarter valued at about $430,000. Finally, SIR Capital Management L.P. raised its holdings in OPAL Fuels by 76.3% in the 2nd 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 during the period. 12.16% of the stock is currently owned by institutional investors and hedge funds.

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.