Brokerages Set OPAL Fuels Inc. (NASDAQ:OPAL) Price Target at $7.90

Shares of OPAL Fuels Inc. (NASDAQ:OPAL - Get Free Report) have been given a consensus rating of "Moderate Buy" by the six brokerages that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $7.90.

Several research analysts recently issued reports on the stock. The Goldman Sachs Group reduced their target price on shares of OPAL Fuels from $4.50 to $3.90 and set a "sell" rating for the company in a report on Friday, August 9th. Scotiabank cut shares of 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. Finally, UBS Group cut their price objective on shares of OPAL Fuels from $8.00 to $7.50 and set a "buy" rating for the company in a report on Friday, August 9th.

OPAL Fuels Stock Performance

Shares of OPAL Fuels stock traded down $0.12 during trading on Thursday, hitting $3.66. 88,389 shares of the company's stock were exchanged, compared to its average volume of 86,357. The business has a 50-day simple moving average of $3.64 and a 200-day simple moving average of $4.11. OPAL Fuels has a 52-week low of $3.04 and a 52-week high of $6.47. The stock has a market capitalization of $632.53 million, a price-to-earnings ratio of 45.75 and a beta of 0.49.

OPAL Fuels (NASDAQ:OPAL - Get Free Report) last issued its earnings results on Wednesday, August 7th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.01. OPAL Fuels had a net margin of 2.50% and a negative return on equity of 2.14%. The firm had revenue of $70.95 million during the quarter, compared to analysts' expectations of $80.68 million. On average, equities analysts anticipate that OPAL Fuels will post 0.45 earnings per share 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. Sanctuary Advisors LLC purchased a new position in OPAL Fuels in the second quarter valued at $93,000. Levin Capital Strategies L.P. purchased a new stake in shares of OPAL Fuels during the first quarter worth about $136,000. Marshall Wace LLP purchased a new stake in shares of OPAL Fuels during the second quarter worth about $389,000. Inspire Investing LLC purchased a new stake in shares of OPAL Fuels during the third quarter worth about $430,000. Finally, SIR Capital Management L.P. increased its stake in shares of OPAL Fuels by 76.3% during the second quarter. SIR Capital Management L.P. now owns 388,049 shares of the company's stock worth $1,587,000 after purchasing an additional 167,940 shares in the last quarter. Hedge funds and other 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.