OPAL Fuels (NASDAQ:OPAL) Rating Lowered to "Strong Sell" at Wall Street Zen

Key Points

• OPAL Fuels has been downgraded by Wall Street Zen from a "hold" to a "strong sell" rating, reflecting concerns about its current performance.
• Analyst ratings have generally trended downwards, with UBS and Johnson Rice also moving to "hold" ratings and lowering their price targets significantly.
• The company's recent earnings report showed a loss of $0.10 per share below expectations, prompting further scrutiny from investors and analysts alike.

Wall Street Zen cut shares of OPAL Fuels (NASDAQ:OPAL - Free Report) from a hold rating to a strong sell rating in a research report released on Saturday.

Several other research analysts also recently commented on the stock. Johnson Rice downgraded shares of OPAL Fuels from a "strong-buy" rating to a "hold" rating and dropped their price objective for the company from $4.00 to $3.00 in a report on Tuesday, July 22nd. UBS Group lowered shares of OPAL Fuels from a "strong-buy" rating to a "hold" rating and reduced their target price for the stock from $3.50 to $2.75 in a research report on Wednesday, July 23rd. Finally, The Goldman Sachs Group lifted their price objective on shares of OPAL Fuels from $1.75 to $2.00 and gave the company a "sell" rating in a report on Monday, May 12th. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Reduce" and a consensus price target of $2.81.

OPAL Fuels Price Performance

NASDAQ:OPAL traded down $0.0350 during trading hours on Friday, hitting $2.2550. 43,917 shares of the company's stock traded hands, compared to its average volume of 183,425. The business's fifty day simple moving average is $2.60 and its two-hundred day simple moving average is $2.40. OPAL Fuels has a 52 week low of $1.26 and a 52 week high of $4.11. The company has a quick ratio of 1.12, a current ratio of 1.26 and a debt-to-equity ratio of 5.06. The firm has a market cap of $391.02 million, a P/E ratio of 37.58 and a beta of 1.08.

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

Insider Activity at OPAL Fuels

In other OPAL Fuels news, Director Scott V. Dols acquired 12,700 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The stock was bought at an average price of $2.72 per share, with a total value of $34,544.00. Following the purchase, the director owned 129,599 shares in the company, valued at approximately $352,509.28. The trade was a 10.86% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Nadeem Nisar purchased 10,000 shares of the company's stock in a transaction dated Friday, June 13th. The stock was purchased at an average cost of $3.17 per share, with a total value of $31,700.00. Following the purchase, the director owned 141,712 shares in the company, valued at approximately $449,227.04. This trade represents a 7.59% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 108,332 shares of company stock valued at $293,597. Corporate insiders own 84.43% of the company's stock.

Institutional Investors Weigh In On OPAL Fuels

A number of hedge funds and other institutional investors have recently modified their holdings of OPAL. Invesco Ltd. raised its holdings 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 in the last quarter. SCS Capital Management LLC acquired a new stake in shares of OPAL Fuels in the 1st quarter valued at $683,000. Geode Capital Management LLC raised its holdings in shares of OPAL Fuels by 91.5% in the 2nd quarter. Geode Capital Management LLC now owns 509,294 shares of the company's stock valued at $1,233,000 after purchasing an additional 243,399 shares in the last quarter. Rockefeller Capital Management L.P. purchased a new position in shares of OPAL Fuels in the 2nd quarter valued at $585,000. Finally, Marshall Wace LLP purchased a new position in shares of OPAL Fuels in the 4th quarter valued at $389,000. 12.16% of the stock is currently owned by institutional investors and hedge funds.

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.