OPAL Fuels (NASDAQ:OPAL) Raised to "Hold" at Zacks Research

Key Points

• Zacks Research upgraded OPAL Fuels from a "strong sell" to a "hold," and other firms (Weiss Ratings, Wall Street Zen) have similarly moved ratings higher, but the street consensus remains a "Reduce" with a $2.72 average target price.
• OPAL missed quarterly EPS estimates (reported $0.08 vs. $0.38 expected) while posting $99.76 million in revenue; the company shows a high return on equity (77.65%) but a slim net margin (1.98%).
• The stock trades around $2.28 with a market cap of about $395 million and a 52-week range of $1.65–$4.08, and institutional investors (including Goldman Sachs and Geode) have recently adjusted their positions, with institutions owning roughly 12.16% of the shares.

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

Several other research analysts also recently weighed in on OPAL. Weiss Ratings raised shares of OPAL Fuels from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, April 27th. Wall Street Zen raised OPAL Fuels from a "sell" rating to a "hold" rating in a research report on Saturday, February 28th. Finally, The Goldman Sachs Group raised their price objective on OPAL Fuels from $2.10 to $2.40 and gave the company a "sell" rating in a research report on Tuesday, March 17th. Four analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Reduce" and a consensus target price of $2.72.

OPAL Fuels Trading Up 0.9%

NASDAQ:OPAL opened at $2.28 on Tuesday. The company has a market capitalization of $395.35 million, a PE ratio of 15.20 and a beta of 0.76. The company has a quick ratio of 1.07, a current ratio of 1.18 and a debt-to-equity ratio of 32.18. OPAL Fuels has a 52-week low of $1.65 and a 52-week high of $4.08. The stock has a fifty day simple moving average of $2.29 and a 200-day simple moving average of $2.35.

OPAL Fuels (NASDAQ:OPAL - Get Free Report) last released its quarterly earnings results on Monday, March 16th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.30). OPAL Fuels had a return on equity of 77.65% and a net margin of 1.98%.The firm had revenue of $99.76 million for the quarter, compared to analyst estimates of $98.75 million. On average, equities research analysts expect that OPAL Fuels will post 0.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On OPAL Fuels

Several large investors have recently added to or reduced their stakes in OPAL. Goldman Sachs Group Inc. lifted its stake in 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 last quarter. Geode Capital Management LLC lifted its holdings in OPAL Fuels by 91.5% in the second quarter. Geode Capital Management LLC now owns 509,294 shares of the company's stock worth $1,233,000 after acquiring an additional 243,399 shares during the last quarter. Intech Investment Management LLC bought a new position in OPAL Fuels in the second quarter worth about $28,000. New York State Common Retirement Fund bought a new position in OPAL Fuels in the second quarter worth about $93,000. Finally, Walleye Capital LLC bought a new position in OPAL Fuels in the second quarter worth about $64,000. 12.16% of the stock is currently owned by institutional investors.

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.

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