Insider Buying: OPAL Fuels Inc. (NASDAQ:OPAL) Director Acquires 37,532 Shares of Stock

OPAL Fuels Inc. (NASDAQ:OPAL - Get Free Report) Director Scott V. Dols purchased 37,532 shares of OPAL Fuels stock in a transaction on Thursday, May 22nd. The shares were acquired at an average price of $2.51 per share, with a total value of $94,205.32. Following the transaction, the director now directly owns 116,899 shares in the company, valued at $293,416.49. This trade represents a 47.29% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

OPAL Fuels Price Performance

Shares of OPAL traded down $0.12 during midday trading on Friday, reaching $3.58. The stock had a trading volume of 284,433 shares, compared to its average volume of 132,471. The company has a market capitalization of $618.73 million, a P/E ratio of 19.89 and a beta of 0.69. The firm's 50 day moving average price is $1.93 and its 200-day moving average price is $2.70. OPAL Fuels Inc. has a 52 week low of $1.26 and a 52 week high of $4.99.

OPAL Fuels (NASDAQ:OPAL - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.62 by ($0.63). OPAL Fuels had a negative return on equity of 4.08% and a net margin of 3.30%. The firm had revenue of $85.41 million for the quarter, compared to analyst estimates of $85.08 million. On average, equities analysts forecast that OPAL Fuels Inc. will post 0.8 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on OPAL. The Goldman Sachs Group upped their price objective on shares of OPAL Fuels from $1.75 to $2.00 and gave the stock a "sell" rating in a report on Monday, May 12th. Scotiabank dropped their price target on shares of OPAL Fuels from $5.00 to $3.50 and set a "sector perform" rating on the stock in a research report on Friday, April 11th. Finally, UBS Group decreased their price objective on shares of OPAL Fuels from $7.00 to $3.50 and set a "buy" rating for the company in a report on Monday, March 17th.

Hedge Funds Weigh In On OPAL Fuels

Hedge funds have recently made changes to their positions in the business. Levin Capital Strategies L.P. boosted its holdings in OPAL Fuels by 250.0% during the fourth quarter. Levin Capital Strategies L.P. now owns 35,000 shares of the company's stock worth $119,000 after buying an additional 25,000 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of OPAL Fuels by 2.1% in 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 in the last quarter. Russell Investments Group Ltd. lifted its position in shares of OPAL Fuels by 28.9% during the 4th quarter. Russell Investments Group Ltd. now owns 503,885 shares of the company's stock valued at $1,708,000 after acquiring an additional 113,034 shares during the last quarter. Invesco Ltd. boosted its stake in shares of OPAL Fuels by 22.5% during the 4th quarter. Invesco Ltd. now owns 1,446,536 shares of the company's stock worth $4,904,000 after acquiring an additional 265,762 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of OPAL Fuels during the 4th quarter worth $389,000. Institutional investors and hedge funds own 12.16% of the company's stock.

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.