SCS Capital Management LLC Makes New $683,000 Investment in OPAL Fuels Inc. $OPAL

Key Points

• SCS Capital Management LLC has made a new $683,000 investment in OPAL Fuels Inc. by purchasing 370,925 shares, representing 0.21% ownership as of the end of the last reporting period.
• Several large investors have increased their holdings in OPAL Fuels, including Invesco Ltd., which raised its stake by 40%, now owning approximately 2 million shares worth $3.7 million.
• Wall Street analysts are bearish on OPAL Fuels, with ratings being downgraded from "strong-buy" to "hold," impacting the current consensus rating to "Reduce" and a price target of $2.81.

SCS Capital Management LLC purchased a new position in shares of OPAL Fuels Inc. (NASDAQ:OPAL - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 370,925 shares of the company's stock, valued at approximately $683,000. SCS Capital Management LLC owned 0.21% of OPAL Fuels at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Squarepoint Ops LLC increased its holdings in OPAL Fuels by 20.2% during the 4th quarter. Squarepoint Ops LLC now owns 31,983 shares of the company's stock worth $108,000 after purchasing an additional 5,377 shares during the period. Jane Street Group LLC acquired a new stake in shares of OPAL Fuels in the 4th quarter valued at $238,000. Goldman Sachs Group Inc. raised its holdings in shares of OPAL Fuels by 16.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 203,006 shares of the company's stock valued at $374,000 after purchasing an additional 28,374 shares in the last quarter. Yaupon Capital Management LP raised its holdings in shares of OPAL Fuels by 1.6% in the 1st quarter. Yaupon Capital Management LP now owns 711,508 shares of the company's stock valued at $1,309,000 after purchasing an additional 11,454 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in shares of OPAL Fuels by 40.0% in the 1st quarter. Invesco Ltd. now owns 2,024,745 shares of the company's stock valued at $3,726,000 after purchasing an additional 578,209 shares in the last quarter. Hedge funds and other institutional investors own 12.16% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Wall Street Zen lowered shares of OPAL Fuels from a "hold" rating to a "strong sell" rating in a report on Saturday, August 16th. Johnson Rice lowered shares of OPAL Fuels from a "strong-buy" rating to a "hold" rating and reduced their price objective for the company from $4.00 to $3.00 in a report on Tuesday, July 22nd. Finally, UBS Group lowered shares of OPAL Fuels from a "strong-buy" rating to a "hold" rating and reduced their price objective for the company from $3.50 to $2.75 in a report on Wednesday, July 23rd. Three investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, OPAL Fuels currently has a consensus rating of "Reduce" and a consensus price target of $2.81.

Insider Transactions at OPAL Fuels

In other news, Director Nadeem Nisar bought 10,000 shares of the firm's stock in a transaction that occurred on Friday, June 13th. The stock was purchased at an average cost of $3.17 per share, with a total value of $31,700.00. Following the transaction, the director directly owned 141,712 shares in the company, valued at $449,227.04. This trade represents a 7.59% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Adam Comora bought 18,256 shares of the business's stock in a transaction dated Monday, August 18th. The stock was acquired at an average cost of $2.32 per share, for a total transaction of $42,353.92. Following the completion of the acquisition, the chief executive officer directly owned 254,517 shares in the company, valued at approximately $590,479.44. This trade represents a 7.73% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 50,100 shares of company stock valued at $124,375. Insiders own 84.57% of the company's stock.

OPAL Fuels Trading Up 3.3%

Shares of OPAL Fuels stock opened at $2.19 on Thursday. The company has a fifty day simple moving average of $2.38 and a 200-day simple moving average of $2.32. OPAL Fuels Inc. has a 12-month low of $1.26 and a 12-month high of $4.11. The company has a current ratio of 1.26, a quick ratio of 1.12 and a debt-to-equity ratio of 5.06. The stock has a market cap of $379.75 million, a price-to-earnings ratio of 36.50 and a beta of 1.08.

OPAL Fuels (NASDAQ:OPAL - Get Free Report) last announced its 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 firm had revenue of $80.46 million during the quarter, compared to analyst estimates of $88.75 million. OPAL Fuels had a negative net margin of 0.74% and a negative return on equity of 1.84%. On average, equities analysts forecast that OPAL Fuels Inc. will post 0.8 EPS for the current fiscal year.

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.

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