OPAL Fuels (NASDAQ:OPAL) Given New $8.00 Price Target at Piper Sandler

OPAL Fuels (NASDAQ:OPAL - Get Free Report) had its price objective decreased by Piper Sandler from $13.00 to $8.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has an "overweight" rating on the stock. Piper Sandler's target price would suggest a potential upside of 70.21% from the stock's previous close.

Several other analysts also recently commented on the stock. Scotiabank cut their price objective on shares of OPAL Fuels from $10.50 to $8.00 and set a "sector outperform" rating on the stock in a research report on Thursday, April 11th. The Goldman Sachs Group dropped their price target on shares of OPAL Fuels from $5.80 to $5.00 and set a "sell" rating on the stock in a report on Friday, March 15th. Stifel Nicolaus dropped their price target on shares of OPAL Fuels from $14.00 to $13.00 and set a "buy" rating on the stock in a report on Tuesday, January 23rd. B. Riley dropped their price target on shares of OPAL Fuels from $14.00 to $10.00 and set a "buy" rating on the stock in a report on Thursday, March 7th. Finally, UBS Group dropped their price target on shares of OPAL Fuels from $11.00 to $8.00 and set a "buy" rating on the stock in a report on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $9.29.

OPAL Fuels Price Performance

OPAL stock traded down $0.03 during trading on Thursday, hitting $4.70. 76,278 shares of the stock traded hands, compared to its average volume of 67,533. OPAL Fuels has a 1 year low of $4.43 and a 1 year high of $8.46. The firm's 50 day moving average is $4.84 and its two-hundred day moving average is $5.47. The stock has a market cap of $810.67 million, a price-to-earnings ratio of 6.71 and a beta of 0.52.

OPAL Fuels (NASDAQ:OPAL - Get Free Report) last announced its quarterly earnings data on Wednesday, March 13th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.11). OPAL Fuels had a net margin of 10.61% and a negative return on equity of 1.07%. The firm had revenue of $87.01 million for the quarter, compared to analysts' expectations of $98.77 million. As a group, analysts anticipate that OPAL Fuels will post 0.59 EPS for the current fiscal year.

Hedge Funds Weigh In On OPAL Fuels

Institutional investors have recently made changes to their positions in the business. DAVENPORT & Co LLC bought a new position in shares of OPAL Fuels in the 4th quarter worth approximately $61,000. Invesco Ltd. bought a new position in shares of OPAL Fuels in the 3rd quarter worth approximately $7,816,000. Advisors Asset Management Inc. lifted its stake in shares of OPAL Fuels by 27.3% in the 3rd quarter. Advisors Asset Management Inc. now owns 43,005 shares of the company's stock worth $353,000 after purchasing an additional 9,223 shares during the period. Iridian Asset Management LLC CT lifted its stake in shares of OPAL Fuels by 52.9% in the 3rd quarter. Iridian Asset Management LLC CT now owns 74,873 shares of the company's stock worth $614,000 after purchasing an additional 25,897 shares during the period. Finally, Bank of New York Mellon Corp bought a new stake in OPAL Fuels during the 3rd quarter worth approximately $125,000. Institutional investors 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.