Johnson Rice Downgrades OPAL Fuels (NASDAQ:OPAL) to Hold

OPAL Fuels (NASDAQ:OPAL - Get Free Report) was downgraded by equities research analysts at Johnson Rice from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Tuesday, Marketbeat.com reports. They presently have a $3.00 price objective on the stock, down from their previous price objective of $4.00. Johnson Rice's price target indicates a potential upside of 19.28% from the stock's previous close.

OPAL has been the subject of several other reports. Scotiabank decreased their price objective on shares of OPAL Fuels from $5.00 to $3.50 and set a "sector perform" rating for the company in a report on Friday, April 11th. The Goldman Sachs Group upped their price objective on shares of OPAL Fuels from $1.75 to $2.00 and gave the stock a "sell" rating in a report on Monday, May 12th.

OPAL Fuels Trading Down 2.1%

Shares of OPAL stock traded down $0.06 during trading hours on Tuesday, reaching $2.52. 89,239 shares of the stock traded hands, compared to its average volume of 190,568. OPAL Fuels has a 1-year low of $1.26 and a 1-year high of $4.21. The business has a fifty day moving average price of $2.83 and a 200 day moving average price of $2.51. The company has a quick ratio of 1.02, a current ratio of 1.15 and a debt-to-equity ratio of 5.06. The firm has a market capitalization of $436.03 million, a PE ratio of 126.00 and a beta of 1.08.

OPAL Fuels (NASDAQ:OPAL - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.63). The company had revenue of $85.41 million during the quarter, compared to analyst estimates of $85.08 million. OPAL Fuels had a negative net margin of 0.24% and a negative return on equity of 1.84%. On average, equities research analysts forecast that OPAL Fuels will post 0.8 EPS for the current year.

Insider Buying and Selling at OPAL Fuels

In other OPAL Fuels news, Director Nadeem Nisar acquired 10,000 shares of the company's stock in a transaction dated Friday, June 13th. The stock was bought at an average price of $3.17 per share, for a total transaction of $31,700.00. Following the purchase, the director owned 141,712 shares in the company, valued at $449,227.04. This represents a 7.59% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Scott V. Dols acquired 12,700 shares of the company's stock in a transaction dated Friday, May 23rd. The stock was acquired 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. This represents a 10.86% increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 108,332 shares of company stock valued at $293,597 in the last ninety days. Company insiders own 84.57% of the company's stock.

Institutional Investors Weigh In On OPAL Fuels

Hedge funds have recently made changes to their positions in the company. Invesco Ltd. increased its position in shares of OPAL Fuels by 22.5% during the 4th quarter. Invesco Ltd. now owns 1,446,536 shares of the company's stock worth $4,904,000 after purchasing an additional 265,762 shares in the last quarter. Jane Street Group LLC bought a new stake in OPAL Fuels during the 4th quarter worth about $238,000. Squarepoint Ops LLC grew its holdings in OPAL Fuels by 20.2% during the 4th quarter. Squarepoint Ops LLC now owns 31,983 shares of the company's stock worth $108,000 after acquiring an additional 5,377 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in OPAL Fuels by 28.9% during the 4th quarter. Russell Investments Group Ltd. now owns 503,885 shares of the company's stock worth $1,708,000 after acquiring an additional 113,034 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in OPAL Fuels during the 4th quarter worth about $389,000. Institutional investors and hedge funds 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.