OPAL Fuels (NASDAQ:OPAL) Shares Up 8.2% – Time to Buy?

OPAL Fuels Inc. (NASDAQ:OPAL) traded up 8.2% during trading on Tuesday . The stock traded as high as $3.96 and last traded at $3.96. 25,178 shares traded hands during trading, a decline of 71% from the average session volume of 85,451 shares. The stock had previously closed at $3.66.

Analysts Set New Price Targets

Several brokerages recently commented on OPAL. 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. The Goldman Sachs Group cut their price target on OPAL Fuels from $4.50 to $3.90 and set a “sell” rating on the stock in a research note 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 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 issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, OPAL Fuels currently has a consensus rating of “Moderate Buy” and a consensus price target of $7.90.

OPAL Fuels Price Performance

The firm’s fifty day simple moving average is $3.65 and its 200 day simple moving average is $4.08. The company has a market capitalization of $665.36 million, a PE ratio of 48.13 and a beta of 0.48.

OPAL Fuels (NASDAQ:OPAL) last issued its earnings results on Wednesday, August 7th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. OPAL Fuels had a negative return on equity of 2.14% and a net margin of 2.50%. The firm had revenue of $70.95 million for the quarter, compared to the consensus estimate of $80.68 million. On average, equities research analysts anticipate that OPAL Fuels Inc. will post 0.75 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SIR Capital Management L.P. increased its position 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 valued at $1,587,000 after buying an additional 167,940 shares in the last quarter. Inspire Investing LLC acquired a new position in shares of OPAL Fuels during the third quarter valued at approximately $430,000. Marshall Wace LLP acquired a new position in shares of OPAL Fuels during the second quarter valued at approximately $389,000. Vanguard Group Inc. lifted its position 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 valued at $8,407,000 after acquiring an additional 86,531 shares in the last quarter. Finally, GSA Capital Partners LLP boosted its stake in shares of OPAL Fuels by 69.3% in the third quarter. GSA Capital Partners LLP now owns 96,056 shares of the company’s stock worth $351,000 after acquiring an additional 39,325 shares during the last quarter. Hedge funds and other institutional investors own 12.16% of the company’s stock.

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.