OPAL Fuels (NASDAQ:OPAL) Trading Down 3.4% - Here's What Happened

OPAL Fuels Inc. (NASDAQ:OPAL - Get Free Report) was down 3.4% during trading on Thursday . The company traded as low as $3.62 and last traded at $3.67. Approximately 258,896 shares traded hands during mid-day trading, an increase of 97% from the average daily volume of 131,239 shares. The stock had previously closed at $3.80.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. The Goldman Sachs Group lifted their price objective on shares of OPAL Fuels from $1.75 to $2.00 and gave the stock a "sell" rating in a report on Monday, May 12th. Scotiabank dropped their target price on shares of OPAL Fuels from $5.00 to $3.50 and set a "sector perform" rating on the stock in a research report on Friday, April 11th. Finally, UBS Group decreased their price target on OPAL Fuels from $7.00 to $3.50 and set a "buy" rating for the company in a research report on Monday, March 17th.

OPAL Fuels Stock Down 4.8%

The firm has a market cap of $585.99 million, a P/E ratio of 18.78 and a beta of 0.69. The firm's 50-day simple moving average is $1.96 and its 200 day simple moving average is $2.69.

OPAL Fuels (NASDAQ:OPAL - Get Free Report) last posted its quarterly 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. As a group, analysts forecast that OPAL Fuels Inc. will post 0.8 earnings per share for the current year.

Insider Transactions at OPAL Fuels

In other OPAL Fuels news, Director Scott V. Dols bought 12,700 shares of the business's stock in a transaction on Friday, May 23rd. The stock was purchased at an average price of $2.72 per share, for a total transaction of $34,544.00. Following the completion of the transaction, 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 acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Nadeem Nisar bought 10,000 shares of OPAL Fuels stock in a transaction dated Thursday, May 22nd. The stock was acquired at an average price of $2.54 per share, with a total value of $25,400.00. Following the purchase, the director now directly 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. In the last 90 days, insiders bought 90,232 shares of company stock worth $236,999. 84.57% of the stock is owned by company insiders.

Institutional Investors Weigh In On OPAL Fuels

A number of hedge funds and other institutional investors have recently bought and sold shares of OPAL. Geode Capital Management LLC grew its position in shares of OPAL Fuels by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 262,876 shares of the company's stock valued at $891,000 after purchasing an additional 5,327 shares in the last quarter. Squarepoint Ops LLC grew 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 buying an additional 5,377 shares in the last quarter. Yaupon Capital Management LP increased its position in shares of OPAL Fuels by 1.6% during the first quarter. Yaupon Capital Management LP now owns 711,508 shares of the company's stock valued at $1,309,000 after buying an additional 11,454 shares during the period. Levin Capital Strategies L.P. lifted its holdings in shares of OPAL Fuels by 250.0% in the fourth quarter. Levin Capital Strategies L.P. now owns 35,000 shares of the company's stock worth $119,000 after buying an additional 25,000 shares in the last quarter. Finally, Ardsley Advisory Partners LP boosted its position in shares of OPAL Fuels by 20.0% in the fourth quarter. Ardsley Advisory Partners LP now owns 150,000 shares of the company's stock valued at $508,000 after acquiring an additional 25,000 shares during the period. 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.