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

Key Points

• Wall Street Zen downgraded OPAL Fuels from “sell” to “strong sell,” adding to a generally bearish analyst outlook. The stock now carries a consensus rating of “Reduce” with an average price target of $2.72.
• OPAL shares rose 3.0% to $2.07 on Friday, but the stock remains near its 50-day average of $2.08 and below its 200-day average of $2.25. The company’s market cap is about $358.94 million.
• Recent fundamentals were weak, as OPAL reported a quarterly loss of $0.09 per share versus expectations for a $0.07 profit and revenue of $73.38 million versus $93.87 million expected. Despite this, insiders have been buying shares, including a director’s purchase of 50,000 shares.

OPAL Fuels (NASDAQ:OPAL - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "sell" rating to a "strong sell" rating in a research note issued on Sunday.

A number of other equities research analysts have also commented on OPAL. The Goldman Sachs Group upped their price objective on shares of OPAL Fuels from $2.10 to $2.40 and gave the company a "sell" rating in a research note on Tuesday, March 17th. Zacks Research upgraded shares of OPAL Fuels from a "strong sell" rating to a "hold" rating in a report on Tuesday, May 5th. Finally, Weiss Ratings cut shares of OPAL Fuels from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Wednesday, May 13th. Three research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, OPAL Fuels presently has a consensus rating of "Reduce" and an average target price of $2.72.

OPAL Fuels Trading Up 3.0%

Shares of OPAL traded up $0.06 during mid-day trading on Friday, reaching $2.07. 251,010 shares of the company were exchanged, compared to its average volume of 356,769. The business has a 50 day simple moving average of $2.08 and a two-hundred day simple moving average of $2.25. The company has a debt-to-equity ratio of 23.21, a quick ratio of 2.07 and a current ratio of 2.20. The stock has a market capitalization of $358.94 million, a PE ratio of 29.58 and a beta of 0.77. OPAL Fuels has a 52 week low of $1.65 and a 52 week high of $2.87.

OPAL Fuels (NASDAQ:OPAL - Get Free Report) last announced its earnings results on Saturday, May 9th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.16). The company had revenue of $73.38 million during the quarter, compared to the consensus estimate of $93.87 million. OPAL Fuels had a net margin of 1.33% and a negative return on equity of 479.62%.

Insider Activity at OPAL Fuels

In other news, Director Scott Mcdougald Sutton bought 50,000 shares of OPAL Fuels stock in a transaction dated Thursday, June 11th. The stock was bought at an average cost of $1.95 per share, for a total transaction of $97,500.00. Following the purchase, the director directly owned 50,000 shares in the company, valued at approximately $97,500. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders bought 72,292 shares of company stock valued at $142,845. Company insiders own 85.69% of the company's stock.

Institutional Investors Weigh In On OPAL Fuels

Hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its position in shares of OPAL Fuels by 16.2% during the first quarter. Goldman Sachs Group Inc. now owns 203,006 shares of the company's stock worth $374,000 after purchasing an additional 28,374 shares during the period. Geode Capital Management LLC grew its position in 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 during the period. Intech Investment Management LLC acquired a new stake in OPAL Fuels in the 2nd quarter valued at $28,000. New York State Common Retirement Fund bought a new stake in OPAL Fuels during the 2nd quarter valued at $93,000. Finally, Walleye Capital LLC bought a new stake in OPAL Fuels during the 2nd quarter valued at $64,000. Institutional investors and hedge funds own 12.16% of the company's stock.

OPAL Fuels Company Profile

OPAL Fuels NASDAQ: OPAL is a publicly traded company headquartered in San Diego, California, specializing in the production, distribution and dispensing of renewable natural gas (RNG) for heavy-duty transportation. The company operates a network of RNG fueling stations across California, offering fleets of trucks, transit buses and logistics providers a low-carbon alternative to conventional diesel without requiring significant changes to existing vehicle technology or fueling infrastructure.

OPAL Fuels sources organic byproducts from dairy farms, landfills and food-processing facilities, converting methane-rich biogas into pipeline-quality RNG through a series of anaerobic digestion and gas-upgrading processes.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.