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

Shares of OPAL Fuels Inc. (NASDAQ:OPAL - Get Free Report) gapped up before the market opened 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.

Specifically, CEO Jonathan Gilbert Maurer bought 25,000 shares of the company's stock in a transaction on Friday, May 23rd. The shares were bought at an average price of $2.74 per share, with a total value of $68,500.00. Following the transaction, the chief executive officer now owns 176,716 shares in the company, valued at approximately $484,201.84. This trade represents a 16.48% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Nadeem Nisar acquired 10,000 shares of the stock in a transaction dated Thursday, May 22nd. The shares were bought at an average price of $2.54 per share, with a total value of $25,400.00. Following the completion of the purchase, the director now directly owns 126,712 shares of the company's stock, valued at approximately $321,848.48. This trade represents a 8.57% increase in their position. The disclosure for this purchase can be found here. In other news, Director Scott V. Dols bought 12,700 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The shares were purchased at an average cost 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Analysts Set New Price Targets

A number of analysts have commented on OPAL shares. The Goldman Sachs Group boosted their price target on OPAL Fuels from $1.75 to $2.00 and gave the company a "sell" rating in a research note on Monday, May 12th. Scotiabank decreased their target price on OPAL Fuels from $5.00 to $3.50 and set a "sector perform" rating for the company in a report on Friday, April 11th. Finally, UBS Group cut 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 Price Performance

The firm's fifty day simple moving average is $1.96 and its 200 day simple moving average is $2.69. The company has a market capitalization of $620.67 million, a PE ratio of 19.89 and a beta of 0.69.

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 analyst estimates of $85.08 million. OPAL Fuels had a net margin of 3.30% and a negative return on equity of 4.08%. On average, equities research analysts anticipate that OPAL Fuels Inc. will post 0.8 EPS for the current fiscal year.

Institutional Investors Weigh In On OPAL Fuels

Several hedge funds have recently bought and sold shares of the stock. Levin Capital Strategies L.P. increased its holdings 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 valued at $119,000 after purchasing an additional 25,000 shares in the last quarter. Geode Capital Management LLC increased its holdings in 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 buying an additional 5,327 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of OPAL Fuels by 28.9% in the fourth quarter. Russell Investments Group Ltd. now owns 503,885 shares of the company's stock worth $1,708,000 after acquiring an additional 113,034 shares during the period. Invesco Ltd. boosted its stake in shares of OPAL Fuels by 22.5% during the 4th quarter. Invesco Ltd. now owns 1,446,536 shares of the company's stock worth $4,904,000 after acquiring an additional 265,762 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of OPAL Fuels during the 4th quarter worth about $389,000. Hedge funds and other institutional investors own 12.16% of the company's stock.

OPAL Fuels Company Profile

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.