SCS Capital Management LLC Acquires Shares of 370,925 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 bought a new position in shares of OPAL Fuels Inc. (NASDAQ:OPAL - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 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 quarter.

Other large investors also recently made changes to their positions in the company. Squarepoint Ops LLC increased its stake 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 acquiring an additional 5,377 shares during the period. Jane Street Group LLC bought a new position in OPAL Fuels during the 4th quarter worth $238,000. Goldman Sachs Group Inc. increased its stake 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 during the last quarter. Yaupon Capital Management LP increased its stake 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 during the last quarter. Finally, Invesco Ltd. increased its stake 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 during the last quarter. Institutional investors own 12.16% of the company's stock.

Insiders Place Their Bets

In related news, CEO Adam Comora bought 21,744 shares of the business's stock in a transaction on Friday, August 15th. The stock was acquired at an average price of $2.30 per share, with a total value of $50,011.20. Following the transaction, the chief executive officer owned 236,261 shares in the company, valued at approximately $543,400.30. This trade represents a 10.14% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 84.43% of the stock is currently owned by insiders.

OPAL Fuels Stock Up 0.5%

Shares of OPAL stock traded up $0.01 during trading hours on Tuesday, hitting $2.08. 27,645 shares of the company's stock traded hands, compared to its average volume of 175,781. The stock's fifty day simple moving average is $2.35 and its two-hundred day simple moving average is $2.30. OPAL Fuels Inc. has a 12-month low of $1.26 and a 12-month high of $4.11. The stock has a market cap of $360.67 million, a price-to-earnings ratio of 34.67 and a beta of 1.08. The company has a quick ratio of 1.12, a current ratio of 1.26 and a debt-to-equity ratio of 5.06.

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on OPAL shares. Johnson Rice lowered 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. UBS Group lowered OPAL Fuels from a "strong-buy" rating to a "hold" rating and decreased their price target for the company from $3.50 to $2.75 in a research note on Wednesday, July 23rd. Finally, Wall Street Zen lowered OPAL Fuels from a "hold" rating to a "strong sell" rating in a research note on Saturday, August 16th. Three research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus price target of $2.81.

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.