OPAL Fuels Inc. (NASDAQ:OPAL - Get Free Report)'s stock price traded down 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.
Analyst Ratings Changes
OPAL has been the topic of several analyst reports. UBS Group cut their target price on OPAL Fuels from $7.00 to $3.50 and set a "buy" rating on the stock in a research note on Monday, March 17th. 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. Finally, The Goldman Sachs Group raised their target price on shares of OPAL Fuels from $1.75 to $2.00 and gave the stock a "sell" rating in a research note on Monday, May 12th.
Check Out Our Latest Report on OPAL Fuels
OPAL Fuels Stock Performance
The company has a market cap of $542.65 million, a price-to-earnings ratio of 17.39 and a beta of 1.21. The company has a 50-day simple moving average of $2.20 and a 200-day simple moving average of $2.67.
OPAL Fuels (NASDAQ:OPAL - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.01) earnings per share (EPS) 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 analysts' expectations of $85.08 million. OPAL Fuels had a net margin of 3.30% and a negative return on equity of 4.08%. As a group, equities research analysts forecast that OPAL Fuels Inc. will post 0.8 EPS for the current year.
Insider Transactions at OPAL Fuels
In other news, CEO Jonathan Gilbert Maurer purchased 25,000 shares of the stock in a transaction dated Friday, May 23rd. The stock was acquired at an average price of $2.74 per share, for a total transaction of $68,500.00. Following the completion of the transaction, the chief executive officer now owns 176,716 shares of the company's stock, valued at approximately $484,201.84. The trade was a 16.48% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Nadeem Nisar acquired 10,000 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The shares were bought 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 of the company's stock, valued at approximately $321,848.48. This represents a 8.57% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 90,232 shares of company stock valued at $236,999. Corporate insiders own 84.57% of the company's stock.
Institutional Investors Weigh In On OPAL Fuels
Several hedge funds have recently bought and sold shares of the business. Levin Capital Strategies L.P. raised its stake in shares of OPAL Fuels by 250.0% during the 4th 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 raised its position in OPAL Fuels by 2.1% during the fourth 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 in the last quarter. Russell Investments Group Ltd. raised its position in OPAL Fuels by 28.9% during the fourth 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 in the last quarter. Invesco Ltd. lifted its stake in OPAL Fuels by 22.5% in the fourth quarter. Invesco Ltd. now owns 1,446,536 shares of the company's stock valued at $4,904,000 after acquiring an additional 265,762 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in OPAL Fuels in the fourth quarter worth approximately $389,000. 12.16% of the stock is owned by hedge funds and other institutional investors.
About OPAL Fuels
(
Get Free Report)
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.
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