OPAL Fuels (NASDAQ:OPAL) Trading 3.6% Higher - Should You Buy?

Shares of OPAL Fuels Inc. (NASDAQ:OPAL - Get Free Report) rose 3.6% during mid-day trading on Monday . The company traded as high as $3.43 and last traded at $3.43. Approximately 84,585 shares were traded during trading, a decline of 4% from the average daily volume of 87,685 shares. The stock had previously closed at $3.31.

Analyst Upgrades and Downgrades

Separately, Scotiabank lowered OPAL Fuels from a "sector outperform" rating to a "sector perform" rating and dropped their price objective for the stock from $8.00 to $5.00 in a research note on Tuesday, September 3rd. 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's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $7.90.

OPAL Fuels Stock Performance

The firm's 50-day simple moving average is $3.64 and its 200-day simple moving average is $3.76. The company has a market capitalization of $580.71 million, a price-to-earnings ratio of 18.67 and a beta of 0.51.

Institutional Investors Weigh In On OPAL Fuels

Institutional investors have recently added to or reduced their stakes in the company. Janus Henderson Group PLC lifted its position in shares of OPAL Fuels by 83.5% in the 3rd quarter. Janus Henderson Group PLC now owns 21,727 shares of the company's stock worth $79,000 after acquiring an additional 9,885 shares during the period. Sanctuary Advisors LLC acquired a new position in shares of OPAL Fuels in the second quarter valued at $93,000. GSA Capital Partners LLP lifted its position in 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 purchasing an additional 39,325 shares during the period. Marshall Wace LLP bought a new position in OPAL Fuels in the second quarter worth $389,000. Finally, Inspire Investing LLC acquired a new stake in OPAL Fuels during the third quarter worth $430,000. 12.16% of the stock is owned by institutional investors and hedge funds.

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.