The Goldman Sachs Group Cuts OPAL Fuels (NASDAQ:OPAL) Price Target to $3.40

OPAL Fuels (NASDAQ:OPAL - Get Free Report) had its price target cut by The Goldman Sachs Group from $3.90 to $3.40 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a "sell" rating on the stock. The Goldman Sachs Group's target price suggests a potential upside of 10.39% from the company's current price.

OPAL Fuels Stock Down 2.5 %

NASDAQ OPAL traded down $0.08 during trading hours on Thursday, reaching $3.08. 118,418 shares of the company were exchanged, compared to its average volume of 92,461. The stock has a market capitalization of $532.32 million, a P/E ratio of 17.11 and a beta of 0.54. OPAL Fuels has a 1 year low of $2.96 and a 1 year high of $5.18. The business's 50 day simple moving average is $3.42 and its 200-day simple moving average is $3.64.

OPAL Fuels (NASDAQ:OPAL - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.08). OPAL Fuels had a negative return on equity of 4.08% and a net margin of 3.30%. The company had revenue of $84.05 million for the quarter, compared to analysts' expectations of $88.80 million. During the same quarter in the previous year, the business earned ($0.01) EPS. As a group, sell-side analysts anticipate that OPAL Fuels will post 0.8 earnings per share for the current year.

Institutional Investors Weigh In On OPAL Fuels

Several large investors have recently added to or reduced their stakes in OPAL. Inspire Investing LLC purchased a new stake in shares of OPAL Fuels during the third quarter worth $430,000. Yaupon Capital Management LP increased its position in shares of OPAL Fuels by 17.0% during the third quarter. Yaupon Capital Management LP now owns 700,054 shares of the company's stock valued at $2,555,000 after buying an additional 101,955 shares during the period. Marshall Wace LLP purchased a new stake in shares of OPAL Fuels in the second quarter worth about $389,000. Geode Capital Management LLC boosted its position in shares of OPAL Fuels by 19.1% in the third quarter. Geode Capital Management LLC now owns 257,549 shares of the company's stock valued at $940,000 after acquiring an additional 41,250 shares during the period. Finally, GSA Capital Partners LLP grew its stake in OPAL Fuels by 69.3% during the third quarter. GSA Capital Partners LLP now owns 96,056 shares of the company's stock valued at $351,000 after acquiring an additional 39,325 shares in the last quarter. Hedge funds and other 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.