OPAL Fuels (NASDAQ:OPAL) Stock Price Up 8.2% - Time to Buy?

OPAL Fuels Inc. (NASDAQ:OPAL - Get Free Report)'s share price rose 8.2% on Tuesday . The stock traded as high as $3.96 and last traded at $3.96. Approximately 25,178 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 85,451 shares. The stock had previously closed at $3.66.

Analyst Ratings Changes

OPAL has been the topic of several research reports. Scotiabank lowered shares of OPAL Fuels from a "sector outperform" rating to a "sector perform" rating and dropped their price objective for the company from $8.00 to $5.00 in a research note on Tuesday, September 3rd. UBS Group dropped their price target on shares of OPAL Fuels from $8.00 to $7.50 and set a "buy" rating on the stock in a research note on Friday, August 9th. Finally, The Goldman Sachs Group dropped their price target on shares of OPAL Fuels from $4.50 to $3.90 and set a "sell" rating on the stock in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $7.90.

OPAL Fuels Stock Performance

The company's 50 day moving average price is $3.64 and its 200 day moving average price is $4.08. The company has a market cap of $670.54 million, a price-to-earnings ratio of 48.75 and a beta of 0.48.

OPAL Fuels (NASDAQ:OPAL - Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $70.95 million during the quarter, compared to the consensus estimate of $80.68 million. OPAL Fuels had a net margin of 2.50% and a negative return on equity of 2.14%. On average, equities research analysts forecast that OPAL Fuels Inc. will post 0.75 EPS for the current fiscal year.

Institutional Trading of OPAL Fuels

Several large investors have recently modified their holdings of OPAL. SIR Capital Management L.P. boosted its holdings in shares of OPAL Fuels by 76.3% during the 2nd quarter. SIR Capital Management L.P. now owns 388,049 shares of the company's stock worth $1,587,000 after buying an additional 167,940 shares during the period. Inspire Investing LLC bought a new stake in shares of OPAL Fuels during the 3rd quarter worth $430,000. Marshall Wace LLP bought a new stake in shares of OPAL Fuels during the 2nd quarter worth $389,000. Vanguard Group Inc. boosted its holdings in shares of OPAL Fuels by 5.4% during the 1st quarter. Vanguard Group Inc. now owns 1,674,624 shares of the company's stock worth $8,407,000 after buying an additional 86,531 shares during the period. Finally, GSA Capital Partners LLP boosted its holdings in OPAL Fuels by 69.3% in the 3rd quarter. GSA Capital Partners LLP now owns 96,056 shares of the company's stock valued at $351,000 after purchasing an additional 39,325 shares during the period. 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.

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