OPAL Fuels (NASDAQ:OPAL) Stock Price Up 3.3% - Should You Buy?

OPAL Fuels Inc. (NASDAQ:OPAL - Get Free Report) shares rose 3.3% on Tuesday . The company traded as high as $3.41 and last traded at $3.40. Approximately 9,170 shares were traded during trading, a decline of 89% from the average daily volume of 84,666 shares. The stock had previously closed at $3.29.

Analyst Upgrades and Downgrades

Separately, Scotiabank lowered shares of OPAL Fuels from a "sector outperform" rating to a "sector perform" rating and decreased their price objective for the company from $8.00 to $5.00 in a report on Tuesday, September 3rd. One 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, OPAL Fuels has an average rating of "Moderate Buy" and a consensus price target of $7.90.

OPAL Fuels Stock Performance

The firm has a market cap of $575.52 million, a P/E ratio of 18.50 and a beta of 0.51. The firm's fifty day moving average price is $3.74 and its 200 day moving average price is $3.85.

Institutional Investors Weigh In On OPAL Fuels

Several large investors have recently modified their holdings of OPAL. SIR Capital Management L.P. raised its holdings in shares of OPAL Fuels by 76.3% in 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. Inspire Investing LLC bought a new stake in shares of OPAL Fuels in the 3rd quarter valued at about $430,000. Yaupon Capital Management LP grew its position in shares of OPAL Fuels by 17.0% in the 3rd quarter. Yaupon Capital Management LP now owns 700,054 shares of the company's stock worth $2,555,000 after buying an additional 101,955 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of OPAL Fuels in the 2nd quarter worth approximately $389,000. Finally, Geode Capital Management LLC grew its position in shares of OPAL Fuels by 19.1% in the 3rd quarter. Geode Capital Management LLC now owns 257,549 shares of the company's stock worth $940,000 after buying an additional 41,250 shares during the last quarter. 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.