OPAL Fuels (NASDAQ:OPAL) Sees Large Volume Increase

OPAL Fuels Inc. (NASDAQ:OPAL) saw strong trading volume on Wednesday . 204,078 shares traded hands during mid-day trading, an increase of 208% from the previous session’s volume of 66,319 shares.The stock last traded at $5.00 and had previously closed at $4.88.

Wall Street Analysts Forecast Growth

Several research firms recently commented on OPAL. The Goldman Sachs Group dropped their price objective on shares of OPAL Fuels from $5.80 to $5.00 and set a “sell” rating on the stock in a research note on Friday, March 15th. Piper Sandler reduced their price objective on OPAL Fuels from $13.00 to $8.00 and set an “overweight” rating for the company in a research report on Thursday, April 18th. UBS Group dropped their target price on OPAL Fuels from $11.00 to $8.00 and set a “buy” rating on the stock in a report on Tuesday, March 19th. Scotiabank reduced their price target on OPAL Fuels from $10.50 to $8.00 and set a “sector outperform” rating for the company in a report on Thursday, April 11th. Finally, Stifel Nicolaus dropped their price target on shares of OPAL Fuels from $14.00 to $13.00 and set a “buy” rating on the stock in a research note on Tuesday, January 23rd. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, OPAL Fuels presently has an average rating of “Moderate Buy” and a consensus target price of $9.29.

OPAL Fuels Stock Performance

The business’s fifty day moving average price is $4.81 and its 200-day moving average price is $5.19. The stock has a market cap of $853.79 million, a PE ratio of 6.97 and a beta of 0.53.

OPAL Fuels (NASDAQ:OPAL) last posted its earnings results on Wednesday, March 13th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.11). The company had revenue of $87.01 million during the quarter, compared to the consensus estimate of $98.77 million. OPAL Fuels had a negative return on equity of 1.07% and a net margin of 10.61%. Analysts forecast that OPAL Fuels Inc. will post 0.53 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Invesco Ltd. purchased a new stake in shares of OPAL Fuels in the 3rd quarter worth $7,816,000. Grizzlyrock Capital LLC bought a new position in shares of OPAL Fuels in the fourth quarter worth about $4,611,000. HITE Hedge Asset Management LLC lifted its position in shares of OPAL Fuels by 81.8% during the 4th quarter. HITE Hedge Asset Management LLC now owns 383,118 shares of the company’s stock valued at $2,115,000 after buying an additional 172,360 shares in the last quarter. Yarra Square Partners LP grew its stake in shares of OPAL Fuels by 18.9% during the 4th quarter. Yarra Square Partners LP now owns 313,900 shares of the company’s stock valued at $1,733,000 after acquiring an additional 50,000 shares during the period. Finally, Iridian Asset Management LLC CT increased its holdings in OPAL Fuels by 52.9% in the 3rd quarter. Iridian Asset Management LLC CT now owns 74,873 shares of the company’s stock worth $614,000 after acquiring an additional 25,897 shares in the last quarter. Institutional investors own 12.16% of the company’s stock.

OPAL Fuels Company 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.