OPAL Fuels (NASDAQ:OPAL) Rating Increased to Hold at Zacks Research

Key Points

• OPAL Fuels has been upgraded by Zacks Research from a "strong sell" to a "hold" rating, following a trend where other brokerages like Johnson Rice and UBS Group have also downgraded their ratings.
• The company's share price is currently around $2.05, with an average target price of $2.81, and it has a market capitalization of $355.47 million.
• OPAL Fuels reported earnings of $0.03 per share for the last quarter, missing analysts' expectations, and has a negative return on equity of -1.84%.

OPAL Fuels (NASDAQ:OPAL - Get Free Report) was upgraded by research analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a report issued on Monday,Zacks.com reports.

Other research analysts have also issued reports about the company. UBS Group lowered OPAL Fuels from a "strong-buy" rating to a "hold" rating and cut their price objective for the company from $3.50 to $2.75 in a report on Wednesday, July 23rd. Johnson Rice downgraded OPAL Fuels from a "strong-buy" rating to a "hold" rating and lowered their price target for the stock from $4.00 to $3.00 in a research report on Tuesday, July 22nd. Finally, Wall Street Zen downgraded OPAL Fuels from a "hold" rating to a "strong sell" rating in a research report on Saturday, August 16th. Four research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Reduce" and a consensus price target of $2.81.

OPAL Fuels Stock Up 1.9%

Shares of OPAL stock traded up $0.04 during mid-day trading on Monday, hitting $2.20. The stock had a trading volume of 295,021 shares, compared to its average volume of 115,896. OPAL Fuels has a 12-month low of $1.26 and a 12-month high of $4.11. The firm has a market capitalization of $381.48 million, a P/E ratio of 36.67 and a beta of 1.08. The firm's 50-day moving average is $2.32 and its two-hundred day moving average is $2.30. The company has a debt-to-equity ratio of 5.06, a current ratio of 1.26 and a quick ratio of 1.12.

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

Insider Buying and Selling at OPAL Fuels

In related news, CEO Adam Comora acquired 21,744 shares of the business's stock in a transaction on Friday, August 15th. The shares were bought at an average cost of $2.30 per share, with a total value of $50,011.20. Following the completion of the transaction, the chief executive officer directly owned 236,261 shares of the company's stock, valued at $543,400.30. This trade represents a 10.14% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 84.57% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Engineers Gate Manager LP purchased a new stake in shares of OPAL Fuels during the second quarter worth about $27,000. Intech Investment Management LLC acquired a new position in OPAL Fuels in the second quarter valued at approximately $28,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in OPAL Fuels in the second quarter valued at approximately $28,000. Shay Capital LLC acquired a new position in shares of OPAL Fuels during the second quarter worth approximately $34,000. Finally, Tower Research Capital LLC TRC acquired a new position in shares of OPAL Fuels during the second quarter worth approximately $46,000. 12.16% of the stock is owned by hedge funds and other institutional investors.

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.