OPAL Fuels (NASDAQ:OPAL) Trading Down 3.3% - Should You Sell?

OPAL Fuels Inc. (NASDAQ:OPAL - Get Free Report)'s share price fell 3.3% during mid-day trading on Wednesday . The stock traded as low as $3.06 and last traded at $3.07. 35,543 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 135,041 shares. The stock had previously closed at $3.17.

Analysts Set New Price Targets

Several brokerages have recently issued reports on OPAL. The Goldman Sachs Group upped their target price 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. UBS Group reduced their price target on shares of OPAL Fuels from $7.00 to $3.50 and set a "buy" rating for the company in a research report on Monday, March 17th. Finally, 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 research report on Friday, April 11th.

OPAL Fuels Stock Performance

The firm's 50-day moving average is $2.27 and its 200 day moving average is $2.66. The stock has a market cap of $537.45 million, a PE ratio of 17.22 and a beta of 1.21.

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

Insider Transactions at OPAL Fuels

In related news, Director Scott V. Dols purchased 37,532 shares of the business's stock in a transaction dated Thursday, May 22nd. The stock was acquired at an average price of $2.51 per share, for a total transaction of $94,205.32. Following the acquisition, the director now directly owns 116,899 shares of the company's stock, valued at $293,416.49. This trade represents a 47.29% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jonathan Gilbert Maurer purchased 25,000 shares of the business's stock in a transaction dated Friday, May 23rd. The stock was bought at an average price of $2.74 per share, with a total value of $68,500.00. Following the acquisition, the chief executive officer now directly 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 disclosure for this purchase can be found here. In the last quarter, insiders bought 90,232 shares of company stock worth $236,999. Company insiders own 84.57% of the company's stock.

Hedge Funds Weigh In On OPAL Fuels

A number of large investors have recently made changes to their positions in the stock. Invesco Ltd. increased 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. Yaupon Capital Management LP grew its stake in OPAL Fuels by 1.6% in the 1st quarter. Yaupon Capital Management LP now owns 711,508 shares of the company's stock valued at $1,309,000 after acquiring an additional 11,454 shares during the last quarter. Russell Investments Group Ltd. grew its stake in OPAL Fuels by 28.9% in the 4th quarter. Russell Investments Group Ltd. now owns 503,885 shares of the company's stock valued at $1,708,000 after acquiring an additional 113,034 shares during the last quarter. SCS Capital Management LLC acquired a new stake in OPAL Fuels in the 1st quarter valued at about $683,000. Finally, Geode Capital Management LLC grew its stake in OPAL Fuels by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 262,876 shares of the company's stock valued at $891,000 after acquiring an additional 5,327 shares during the last quarter. Hedge funds and other institutional investors 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.