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 following insider buying activity. 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 bought 25,000 shares of the firm's stock in a transaction on Friday, May 23rd. The stock was acquired at an average cost of $2.74 per share, for a total transaction of $68,500.00. Following the purchase, the chief executive officer now owns 176,716 shares in the company, valued at approximately $484,201.84. This represents a 16.48% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Nadeem Nisar purchased 10,000 shares of the company's stock in a transaction dated Thursday, May 22nd. The stock was purchased at an average price of $2.54 per share, for a total transaction of $25,400.00. Following the completion of the purchase, the director now owns 126,712 shares in the company, valued at approximately $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 other OPAL Fuels news, Director Scott V. Dols acquired 12,700 shares of the business's stock in a transaction dated Friday, May 23rd. The stock was purchased at an average price of $2.72 per share, with a total value of $34,544.00. Following the transaction, the director now directly owns 129,599 shares in the company, valued at approximately $352,509.28. The trade was a 10.86% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Wall Street Analysts Forecast Growth

A number of research firms have commented on OPAL. The Goldman Sachs Group raised their price target on OPAL Fuels from $1.75 to $2.00 and gave the company a "sell" rating in a report on Monday, May 12th. Scotiabank decreased their target price on 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. Finally, UBS Group reduced their price target on shares of OPAL Fuels from $7.00 to $3.50 and set a "buy" rating on the stock in a report on Monday, March 17th.

OPAL Fuels Stock Performance

The company has a market capitalization of $639.47 million, a P/E ratio of 20.56 and a beta of 0.69. The firm's fifty day moving average is $1.93 and its 200 day moving average is $2.70.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. SCS Capital Management LLC bought a new position in shares of OPAL Fuels during the 1st quarter worth $683,000. Yaupon Capital Management LP grew its holdings in OPAL Fuels by 1.6% during the 1st quarter. Yaupon Capital Management LP now owns 711,508 shares of the company's stock worth $1,309,000 after acquiring an additional 11,454 shares in the last quarter. Goldman Sachs Group Inc. increased its position 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 period. Invesco Ltd. raised its holdings in shares of OPAL Fuels by 40.0% in the 1st quarter. Invesco Ltd. now owns 2,024,745 shares of the company's stock valued at $3,726,000 after purchasing an additional 578,209 shares in the last quarter. Finally, Squarepoint Ops LLC raised its stake in OPAL Fuels by 20.2% in the fourth quarter. Squarepoint Ops LLC now owns 31,983 shares of the company's stock worth $108,000 after buying an additional 5,377 shares in the last quarter. 12.16% of the stock is currently 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.