Zimmer Partners LP Reduces Stock Position in OPAL Fuels Inc. $OPAL

Key Points

• Zimmer Partners LP has reduced its stake in OPAL Fuels by 42.3% after selling 843,949 shares, leaving it with approximately 1.15 million shares valued at $2.12 million.
• Several institutional investors, including Invesco Ltd and Goldman Sachs Group Inc, have recently adjusted their holdings in OPAL Fuels, with Invesco increasing its stake by 40% last quarter.
• Analysts have adjusted their ratings for OPAL Fuels, with Johnson Rice downgrading the stock from "strong-buy" to "hold" and reducing the target price to $3.00.

Zimmer Partners LP lessened its stake in OPAL Fuels Inc. (NASDAQ:OPAL - Free Report) by 42.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,150,092 shares of the company's stock after selling 843,949 shares during the quarter. Zimmer Partners LP owned 0.67% of OPAL Fuels worth $2,116,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Squarepoint Ops LLC raised its position in OPAL Fuels by 20.2% during the fourth quarter. Squarepoint Ops LLC now owns 31,983 shares of the company's stock valued at $108,000 after acquiring an additional 5,377 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of OPAL Fuels during the 4th quarter worth approximately $238,000. Goldman Sachs Group Inc. increased 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 valued at $374,000 after purchasing an additional 28,374 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of OPAL Fuels by 40.0% during 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. 12.16% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on OPAL shares. 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. Johnson Rice lowered shares of OPAL Fuels from a "strong-buy" rating to a "hold" rating and lowered their target price for the stock from $4.00 to $3.00 in a research note on Tuesday, July 22nd. Finally, UBS Group cut OPAL Fuels from a "strong-buy" rating to a "hold" rating and dropped their target price for the company from $3.50 to $2.75 in a research report on Wednesday, July 23rd. Three investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Reduce" and a consensus price target of $2.81.

OPAL Fuels Price Performance

Shares of OPAL stock traded up $0.03 on Thursday, reaching $2.22. 48,873 shares of the company were exchanged, compared to its average volume of 113,819. OPAL Fuels Inc. has a 1 year low of $1.26 and a 1 year 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 business has a 50-day moving average price of $2.37 and a 200 day moving average price of $2.31. The company has a market cap of $384.95 million, a price-to-earnings ratio of 37.00 and a beta of 1.08.

OPAL Fuels (NASDAQ:OPAL - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $88.75 million. Equities research analysts forecast that OPAL Fuels Inc. will post 0.8 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Adam Comora acquired 18,256 shares of the firm's stock in a transaction on Monday, August 18th. The shares were bought at an average price of $2.32 per share, for a total transaction of $42,353.92. Following the acquisition, the chief executive officer owned 254,517 shares of the company's stock, valued at approximately $590,479.44. This trade represents a 7.73% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Nadeem Nisar bought 10,000 shares of the stock in a transaction on Friday, June 13th. The shares were acquired at an average cost of $3.17 per share, for a total transaction of $31,700.00. Following the purchase, 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 disclosure for this purchase can be found here. Insiders bought 50,100 shares of company stock worth $124,375 over the last ninety days. Corporate insiders own 84.57% of the company's stock.

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.