Encompass Capital Advisors LLC reduced its stake in OPAL Fuels Inc. (NASDAQ:OPAL – Free Report) by 32.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,506,795 shares of the company’s stock after selling 739,451 shares during the quarter. Encompass Capital Advisors LLC owned about 0.87% of OPAL Fuels worth $6,163,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently made changes to their positions in OPAL. Levin Capital Strategies L.P. bought a new stake in OPAL Fuels in the first quarter worth $136,000. Vanguard Group Inc. boosted its stake in OPAL Fuels by 5.4% in the 1st quarter. Vanguard Group Inc. now owns 1,674,624 shares of the company’s stock worth $8,407,000 after purchasing an additional 86,531 shares in the last quarter. Marshall Wace LLP purchased a new stake in OPAL Fuels during the 2nd quarter valued at about $389,000. SIR Capital Management L.P. increased its stake in OPAL Fuels by 76.3% during the 2nd quarter. SIR Capital Management L.P. now owns 388,049 shares of the company’s stock valued at $1,587,000 after purchasing an additional 167,940 shares in the last quarter. Finally, Grizzlyrock Capital LLC bought a new stake in OPAL Fuels during the 4th quarter valued at about $4,611,000. 12.16% of the stock is owned by institutional investors.
OPAL Fuels Price Performance
OPAL stock opened at $3.53 on Thursday. OPAL Fuels Inc. has a 1 year low of $3.04 and a 1 year high of $8.46. The company has a market cap of $608.86 million, a P/E ratio of 4.71 and a beta of 0.48. The stock’s fifty day moving average price is $3.69 and its 200-day moving average price is $4.31.
Analysts Set New Price Targets
A number of equities research analysts have recently commented on OPAL shares. UBS Group cut their price target on shares of OPAL Fuels from $8.00 to $7.50 and set a “buy” rating on the stock in a report on Friday, August 9th. Scotiabank lowered OPAL Fuels from a “sector outperform” rating to a “sector perform” rating and reduced their target price for the stock from $8.00 to $5.00 in a report on Tuesday, September 3rd. The Goldman Sachs Group decreased their price target on OPAL Fuels from $4.50 to $3.90 and set a “sell” rating for the company in a research note on Friday, August 9th. Finally, B. Riley reaffirmed a “buy” rating and set a $10.00 price objective on shares of OPAL Fuels in a research report on Friday, June 7th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $7.90.
Check Out Our Latest Report on OPAL
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.
Featured Articles
- Five stocks we like better than OPAL Fuels
- 3 Warren Buffett Stocks to Buy Now
- Should You Invest in Treasury Bills?
- What is a Stock Market Index and How Do You Use Them?
- Analysts Think There’s Still Time to Get in on Edgewise, Up 332%
- What is a Secondary Public Offering? What Investors Need to Know
- 3 Stocks Raising Dividends 4X Higher Than Inflation
Want to see what other hedge funds are holding OPAL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for OPAL Fuels Inc. (NASDAQ:OPAL – Free Report).
Receive News & Ratings for OPAL Fuels Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for OPAL Fuels and related companies with MarketBeat.com's FREE daily email newsletter.