OPAL Fuels (NASDAQ:OPAL) Lowered to "Hold" Rating by UBS Group

UBS Group downgraded shares of OPAL Fuels (NASDAQ:OPAL - Free Report) from a strong-buy rating to a hold rating in a research note issued to investors on Wednesday, MarketBeat Ratings reports. UBS Group currently has $2.75 price objective on the stock, down from their prior price objective of $3.50.

A number of other analysts also recently weighed in on OPAL. Johnson Rice downgraded shares of OPAL Fuels from a "strong-buy" rating to a "hold" rating and reduced their price target for the company from $4.00 to $3.00 in a report on Tuesday, July 22nd. Scotiabank reduced their price target 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. Finally, The Goldman Sachs Group increased their price target 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.

OPAL Fuels Stock Performance

OPAL Fuels stock traded down $0.06 during mid-day trading on Wednesday, reaching $2.51. The company had a trading volume of 117,104 shares, compared to its average volume of 294,311. The company has a quick ratio of 1.02, a current ratio of 1.15 and a debt-to-equity ratio of 5.06. OPAL Fuels has a 52 week low of $1.26 and a 52 week high of $4.21. The company has a 50 day moving average of $2.83 and a 200-day moving average of $2.50. The firm has a market cap of $435.16 million, a price-to-earnings ratio of 125.50 and a beta of 1.08.

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

Insider Transactions at OPAL Fuels

In other OPAL Fuels news, Director Nadeem Nisar acquired 10,000 shares of OPAL Fuels stock in a transaction dated Friday, June 13th. The stock was bought at an average cost of $3.17 per share, with a total value of $31,700.00. Following the acquisition, the director owned 141,712 shares of the company's stock, valued at approximately $449,227.04. The trade was a 7.59% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Scott V. Dols acquired 37,532 shares of OPAL Fuels stock in a transaction dated Thursday, May 22nd. The shares were acquired at an average cost of $2.51 per share, with a total value of $94,205.32. Following the completion of the acquisition, the director directly owned 116,899 shares in the company, valued at $293,416.49. This trade represents a 47.29% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders acquired 108,332 shares of company stock valued at $293,597. Company insiders own 84.57% of the company's stock.

Hedge Funds Weigh In On OPAL Fuels

Several institutional investors have recently added to or reduced their stakes in OPAL. Squarepoint Ops LLC lifted 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 valued at $108,000 after purchasing an additional 5,377 shares during the last quarter. Jane Street Group LLC bought a new position in OPAL Fuels during the 4th quarter valued at about $238,000. Inspire Investing LLC lifted its holdings in OPAL Fuels by 64.2% during the 1st quarter. Inspire Investing LLC now owns 195,048 shares of the company's stock valued at $359,000 after purchasing an additional 76,267 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in OPAL Fuels by 16.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 203,006 shares of the company's stock valued at $374,000 after purchasing an additional 28,374 shares during the last quarter. Finally, Marshall Wace LLP bought a new position in OPAL Fuels during the 4th quarter valued at about $389,000. 12.16% of the stock is owned by 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.