OPAL Fuels (NASDAQ:OPAL) Trading Up 3.6% – Still a Buy?

OPAL Fuels Inc. (NASDAQ:OPAL)’s stock price shot up 3.6% during mid-day trading on Monday . The stock traded as high as $3.43 and last traded at $3.43. 84,585 shares changed hands during trading, a decline of 4% from the average session volume of 87,685 shares. The stock had previously closed at $3.31.

Analysts Set New Price Targets

Separately, Scotiabank lowered shares of OPAL Fuels from a “sector outperform” rating to a “sector perform” rating and decreased their price target for the stock from $8.00 to $5.00 in a report on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, OPAL Fuels presently has a consensus rating of “Moderate Buy” and an average target price of $7.90.

OPAL Fuels Price Performance

The company has a market capitalization of $610.09 million, a P/E ratio of 19.61 and a beta of 0.51. The firm’s 50-day moving average is $3.64 and its 200-day moving average is $3.76.

Institutional Investors Weigh In On OPAL Fuels

Several large investors have recently made changes to their positions in the company. Janus Henderson Group PLC increased its position in OPAL Fuels by 83.5% during the third quarter. Janus Henderson Group PLC now owns 21,727 shares of the company’s stock valued at $79,000 after acquiring an additional 9,885 shares during the last quarter. Sanctuary Advisors LLC bought a new position in shares of OPAL Fuels in the second quarter worth about $93,000. Marshall Wace LLP purchased a new position in OPAL Fuels in the 2nd quarter worth about $389,000. GSA Capital Partners LLP lifted its holdings in OPAL Fuels by 69.3% during the 3rd quarter. GSA Capital Partners LLP now owns 96,056 shares of the company’s stock valued at $351,000 after buying an additional 39,325 shares in the last quarter. Finally, Inspire Investing LLC purchased a new stake in OPAL Fuels in the 3rd quarter valued at about $430,000. 12.16% of the stock is 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.