Insider Buying: OPAL Fuels Inc. (NASDAQ:OPAL) CEO Buys 25,000 Shares of Stock

OPAL Fuels Inc. (NASDAQ:OPAL - Get Free Report) CEO Jonathan Gilbert Maurer purchased 25,000 shares of the firm's stock in a transaction that occurred on Friday, May 23rd. The stock was bought at an average cost of $2.74 per share, with a total value of $68,500.00. Following the completion of the purchase, the chief executive officer now owns 176,716 shares of the company's stock, valued at $484,201.84. This represents a 16.48% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

OPAL Fuels Price Performance

OPAL stock traded down $0.12 during trading on Friday, reaching $3.58. The company had a trading volume of 284,433 shares, compared to its average volume of 133,000. OPAL Fuels Inc. has a 52 week low of $1.26 and a 52 week high of $4.92. The business has a 50 day moving average of $1.96 and a 200 day moving average of $2.69. The company has a market cap of $620.67 million, a P/E ratio of 19.89 and a beta of 0.69.

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

Hedge Funds Weigh In On OPAL Fuels

A number of institutional investors and hedge funds have recently made changes to their positions in OPAL. Levin Capital Strategies L.P. increased its stake in shares of OPAL Fuels by 250.0% during the fourth quarter. Levin Capital Strategies L.P. now owns 35,000 shares of the company's stock valued at $119,000 after purchasing an additional 25,000 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of 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 purchasing an additional 5,327 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of OPAL Fuels by 28.9% during the fourth quarter. Russell Investments Group Ltd. now owns 503,885 shares of the company's stock valued at $1,708,000 after purchasing an additional 113,034 shares in the last quarter. Invesco Ltd. increased its stake in shares of OPAL Fuels by 22.5% during the fourth quarter. Invesco Ltd. now owns 1,446,536 shares of the company's stock valued at $4,904,000 after purchasing an additional 265,762 shares in the last quarter. Finally, Marshall Wace LLP bought a new position in shares of OPAL Fuels during the fourth quarter valued at approximately $389,000. Institutional investors own 12.16% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. UBS Group decreased their price target on shares of OPAL Fuels from $7.00 to $3.50 and set a "buy" rating for the company in a research note on Monday, March 17th. The Goldman Sachs Group increased their price target on shares of OPAL Fuels from $1.75 to $2.00 and gave the stock a "sell" rating in a research note on Monday, May 12th. Finally, Scotiabank decreased their price target on shares of OPAL Fuels from $5.00 to $3.50 and set a "sector perform" rating for the company in a research note on Friday, April 11th.

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.