OPAL Fuels (NASDAQ:OPAL) Shares Gap Up on Insider Buying Activity

OPAL Fuels Inc. (NASDAQ:OPAL - Get Free Report) gapped up prior to trading on Wednesday following insider buying activity. The stock had previously closed at $3.13, but opened at $3.28. OPAL Fuels shares last traded at $3.27, with a volume of 84,700 shares changing hands.

Specifically, CEO Jonathan Gilbert Maurer purchased 25,000 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The stock was bought 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 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 purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Nadeem Nisar purchased 10,000 shares of the business's stock in a transaction on Thursday, May 22nd. The shares were purchased at an average price of $2.54 per share, with a total value of $25,400.00. Following the acquisition, the director now directly owns 126,712 shares in the company, valued at $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 other news, Director Scott V. Dols acquired 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 acquisition, the director now directly owns 129,599 shares of the company's stock, valued at approximately $352,509.28. The trade was a 10.86% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. UBS Group cut their target price on shares of OPAL Fuels from $7.00 to $3.50 and set a "buy" rating for the company in a report on Monday, March 17th. Scotiabank dropped their price objective on shares of OPAL Fuels from $5.00 to $3.50 and set a "sector perform" rating for the company in a research note on Friday, April 11th. Finally, The Goldman Sachs Group boosted their target price 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.

OPAL Fuels Trading Down 3.2%

The company has a 50-day moving average price of $1.96 and a two-hundred day moving average price of $2.70. The stock has a market cap of $618.73 million, a P/E ratio of 19.89 and a beta of 0.69.

OPAL Fuels (NASDAQ:OPAL - Get Free Report) last released its earnings results 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). OPAL Fuels had a negative return on equity of 4.08% and a net margin of 3.30%. The firm had revenue of $85.41 million during the quarter, compared to the consensus estimate of $85.08 million. As a group, equities analysts forecast that OPAL Fuels Inc. will post 0.8 earnings per share for the current fiscal year.

Institutional Trading of OPAL Fuels

Institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its holdings 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 worth $891,000 after buying an additional 5,327 shares during the period. Squarepoint Ops LLC grew its position in OPAL Fuels by 20.2% in the 4th quarter. Squarepoint Ops LLC now owns 31,983 shares of the company's stock valued at $108,000 after acquiring an additional 5,377 shares during the last quarter. Yaupon Capital Management LP grew its position 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. Levin Capital Strategies L.P. increased its stake in 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 purchasing an additional 25,000 shares during the period. Finally, Ardsley Advisory Partners LP lifted its position in shares of OPAL Fuels by 20.0% during the fourth quarter. Ardsley Advisory Partners LP now owns 150,000 shares of the company's stock worth $508,000 after purchasing an additional 25,000 shares during the last quarter. 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.