Invesco Ltd. Grows Position in OPAL Fuels Inc. $OPAL

Key Points

• Invesco Ltd. increased its stake in OPAL Fuels Inc. by 40%, acquiring an additional 578,209 shares, bringing its total holdings to approximately 2,024,745 shares valued at $3.726 million.
• Recent analyst reports indicate a shift in sentiment, with Johnson Rice downgrading OPAL Fuels from "strong-buy" to "hold," and several firms adjusting their price targets downwards.
• Insider activity remains notable as directors and executives increased their ownership in OPAL Fuels, with recent purchases adding to over 58,100 shares acquired in the last ninety days.

Invesco Ltd. lifted its holdings in shares of OPAL Fuels Inc. (NASDAQ:OPAL - Free Report) by 40.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 2,024,745 shares of the company's stock after purchasing an additional 578,209 shares during the period. Invesco Ltd. owned about 1.17% of OPAL Fuels worth $3,726,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in OPAL. Squarepoint Ops LLC boosted its stake in OPAL Fuels by 20.2% during the fourth quarter. Squarepoint Ops LLC now owns 31,983 shares of the company's stock worth $108,000 after acquiring an additional 5,377 shares in the last quarter. Ardsley Advisory Partners LP grew its position in OPAL Fuels by 20.0% during the fourth quarter. Ardsley Advisory Partners LP now owns 150,000 shares of the company's stock valued at $508,000 after buying an additional 25,000 shares during the period. Jane Street Group LLC bought a new stake in OPAL Fuels during the fourth quarter valued at approximately $238,000. Marshall Wace LLP bought a new stake in OPAL Fuels during the fourth quarter valued at approximately $389,000. Finally, Geode Capital Management LLC grew its position in OPAL Fuels by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 262,876 shares of the company's stock valued at $891,000 after buying an additional 5,327 shares during the period. Institutional investors own 12.16% of the company's stock.

Insider Buying and Selling at OPAL Fuels

In related news, Director Nadeem Nisar purchased 10,000 shares of the business's stock in a transaction that occurred on Friday, June 13th. The stock was bought at an average price of $3.17 per share, with a total value of $31,700.00. Following the acquisition, the director owned 141,712 shares in the company, valued at $449,227.04. The trade was a 7.59% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Adam Comora bought 18,256 shares of the company's stock in a transaction dated Monday, August 18th. The shares were acquired at an average cost of $2.32 per share, with a total value of $42,353.92. Following the acquisition, the chief executive officer directly owned 254,517 shares of the company's stock, valued at approximately $590,479.44. This represents a 7.73% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders purchased 58,100 shares of company stock valued at $148,963. 84.43% of the stock is owned by insiders.

OPAL Fuels Stock Performance

OPAL stock traded down $0.04 during trading on Tuesday, reaching $2.32. The company had a trading volume of 32,991 shares, compared to its average volume of 179,495. OPAL Fuels Inc. has a twelve month low of $1.26 and a twelve month high of $4.11. The company has a debt-to-equity ratio of 5.06, a quick ratio of 1.12 and a current ratio of 1.26. The company has a market cap of $401.42 million, a price-to-earnings ratio of 38.58 and a beta of 1.08. The firm has a 50-day simple moving average of $2.43 and a 200-day simple moving average of $2.35.

OPAL Fuels (NASDAQ:OPAL - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.13 by ($0.10). The business had revenue of $80.46 million for the quarter, compared to analysts' expectations of $88.75 million. OPAL Fuels had a negative return on equity of 1.84% and a negative net margin of 0.74%. As a group, sell-side analysts expect that OPAL Fuels Inc. will post 0.8 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on OPAL. Wall Street Zen lowered shares of OPAL Fuels from a "hold" rating to a "strong sell" rating in a research report on Saturday, August 16th. UBS Group lowered shares of OPAL Fuels from a "strong-buy" rating to a "hold" rating and dropped their price target for the stock from $3.50 to $2.75 in a research report on Wednesday, July 23rd. The Goldman Sachs Group upped their price target on shares of OPAL Fuels from $1.75 to $2.00 and gave the stock a "sell" rating in a research report on Monday, May 12th. Finally, Johnson Rice downgraded shares of OPAL Fuels from a "strong-buy" rating to a "hold" rating and decreased their price target for the company from $4.00 to $3.00 in a research note on Tuesday, July 22nd. Three equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and a consensus target price of $2.81.

OPAL Fuels 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.