OPAL Fuels (NASDAQ:OPAL) Sees Large Volume Increase Following Insider Buying Activity

OPAL Fuels Inc. (NASDAQ:OPAL - Get Free Report) saw unusually-strong trading volume on Tuesday after an insider bought additional shares in the company. Approximately 192,908 shares traded hands during trading, an increase of 55% from the previous session's volume of 124,226 shares.The stock last traded at $3.27 and had previously closed at $2.72.

Specifically, CEO Jonathan Gilbert Maurer purchased 25,000 shares of the firm's stock in a transaction dated Friday, May 23rd. The shares were acquired at an average cost of $2.74 per share, with a total value of $68,500.00. Following the completion of the purchase, the chief executive officer now directly owns 176,716 shares of the company's stock, valued at $484,201.84. This trade represents a 16.48% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Nadeem Nisar purchased 10,000 shares of the firm's stock in a transaction dated Thursday, May 22nd. The shares were bought at an average cost of $2.54 per share, for a total transaction of $25,400.00. Following the completion of the purchase, the director now directly owns 126,712 shares of the company's stock, valued at $321,848.48. The trade was a 8.57% increase in their ownership of the stock. The disclosure for this purchase can be found here. In related news, Director Scott V. Dols purchased 12,700 shares of the firm's stock in a transaction dated Friday, May 23rd. The shares were acquired at an average cost of $2.72 per share, with a total value of $34,544.00. Following the completion of the purchase, the director now directly owns 129,599 shares of the company's stock, valued at $352,509.28. This trade represents a 10.86% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Wall Street Analyst Weigh In

Several analysts have recently commented on OPAL shares. 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 research note on Monday, May 12th. UBS Group decreased their price target on shares of OPAL Fuels from $7.00 to $3.50 and set a "buy" rating on the stock in a research note on Monday, March 17th. Finally, Scotiabank reduced their price objective on shares of OPAL Fuels from $5.00 to $3.50 and set a "sector perform" rating on the stock in a research note on Friday, April 11th.

OPAL Fuels Price Performance

The stock has a market capitalization of $618.73 million, a P/E ratio of 19.89 and a beta of 0.69. The business's 50 day simple moving average is $1.96 and its 200-day simple moving average is $2.70.

OPAL Fuels (NASDAQ:OPAL - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.62 by ($0.63). OPAL Fuels had a net margin of 3.30% and a negative return on equity of 4.08%. The business had revenue of $85.41 million during the quarter, compared to the consensus estimate of $85.08 million. Research analysts anticipate that OPAL Fuels Inc. will post 0.8 earnings per share for the current fiscal year.

Hedge Funds Weigh In On OPAL Fuels

A number of hedge funds and other institutional investors have recently made changes to their positions in OPAL. Levin Capital Strategies L.P. boosted its position in shares of OPAL Fuels by 250.0% during the fourth quarter. Levin Capital Strategies L.P. now owns 35,000 shares of the company's stock worth $119,000 after purchasing an additional 25,000 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of OPAL Fuels by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 262,876 shares of the company's stock worth $891,000 after purchasing an additional 5,327 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of OPAL Fuels by 28.9% during the fourth quarter. Russell Investments Group Ltd. now owns 503,885 shares of the company's stock worth $1,708,000 after purchasing an additional 113,034 shares in the last quarter. Invesco Ltd. boosted its position in shares of OPAL Fuels by 22.5% during the fourth 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. Finally, Marshall Wace LLP bought a new position in shares of OPAL Fuels during the fourth quarter worth $389,000. 12.16% of the stock is owned by institutional investors.

OPAL Fuels Company Profile

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.