OPAL Fuels Inc. (NASDAQ:OPAL) Receives Average Recommendation of “Reduce” from Analysts

OPAL Fuels Inc. (NASDAQ:OPAL) has been given an average recommendation of “Reduce” by the five ratings firms that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation and three have given a hold recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $2.7167.

OPAL has been the subject of several recent analyst reports. Wall Street Zen cut shares of OPAL Fuels from a “sell” rating to a “strong sell” rating in a research report on Sunday. Weiss Ratings lowered shares of OPAL Fuels from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, May 13th. Zacks Research upgraded shares of OPAL Fuels from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 5th. Finally, The Goldman Sachs Group upped their price target on shares of OPAL Fuels from $2.10 to $2.40 and gave the stock a “sell” rating in a report on Tuesday, March 17th.

OPAL Fuels Stock Performance

OPAL opened at $2.04 on Tuesday. The firm has a market cap of $353.74 million, a P/E ratio of 29.15 and a beta of 0.77. OPAL Fuels has a 52-week low of $1.65 and a 52-week high of $2.87. The company has a debt-to-equity ratio of 23.21, a quick ratio of 2.07 and a current ratio of 2.20. The business’s fifty day moving average is $2.08 and its 200-day moving average is $2.25.

OPAL Fuels (NASDAQ:OPAL) last issued its quarterly earnings results on Saturday, May 9th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.16). The company had revenue of $73.38 million during the quarter, compared to the consensus estimate of $93.87 million. OPAL Fuels had a negative return on equity of 479.62% and a net margin of 1.33%.

Insider Buying and Selling

In other OPAL Fuels news, Director Scott Mcdougald Sutton bought 50,000 shares of the business’s stock in a transaction on Thursday, June 11th. The stock was purchased at an average cost of $1.95 per share, for a total transaction of $97,500.00. Following the completion of the purchase, the director directly owned 50,000 shares of the company’s stock, valued at approximately $97,500. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have purchased 72,292 shares of company stock worth $142,845 in the last three months. 85.69% of the stock is owned by insiders.

Institutional Investors Weigh In On OPAL Fuels

Large investors have recently modified their holdings of the business. Goldman Sachs Group Inc. raised its holdings in shares of OPAL Fuels by 16.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 203,006 shares of the company’s stock worth $374,000 after buying an additional 28,374 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of OPAL Fuels by 91.5% during the 2nd quarter. Geode Capital Management LLC now owns 509,294 shares of the company’s stock worth $1,233,000 after buying an additional 243,399 shares during the last quarter. Intech Investment Management LLC acquired a new stake in OPAL Fuels in the second quarter valued at about $28,000. New York State Common Retirement Fund acquired a new stake in OPAL Fuels in the second quarter valued at about $93,000. Finally, Walleye Capital LLC bought a new position in OPAL Fuels in the second quarter valued at about $64,000. Institutional investors and hedge funds own 12.16% of the company’s stock.

OPAL Fuels Company Profile

OPAL Fuels (NASDAQ: OPAL) is a publicly traded company headquartered in San Diego, California, specializing in the production, distribution and dispensing of renewable natural gas (RNG) for heavy-duty transportation. The company operates a network of RNG fueling stations across California, offering fleets of trucks, transit buses and logistics providers a low-carbon alternative to conventional diesel without requiring significant changes to existing vehicle technology or fueling infrastructure.

OPAL Fuels sources organic byproducts from dairy farms, landfills and food-processing facilities, converting methane-rich biogas into pipeline-quality RNG through a series of anaerobic digestion and gas-upgrading processes.