OPAL Fuels (NASDAQ:OPAL) Stock Price Down 3.7% - Here's Why

OPAL Fuels Inc. (NASDAQ:OPAL - Get Free Report)'s share price fell 3.7% during mid-day trading on Wednesday . The stock traded as low as $3.13 and last traded at $3.14. 53,670 shares were traded during trading, a decline of 60% from the average session volume of 133,822 shares. The stock had previously closed at $3.26.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on OPAL. UBS Group decreased their price objective 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. 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 research report on Monday, May 12th. 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 Price Performance

The company has a market capitalization of $556.52 million, a price-to-earnings ratio of 17.83 and a beta of 1.22. The business's 50 day simple moving average is $2.10 and its 200 day simple moving average is $2.68.

OPAL Fuels (NASDAQ:OPAL - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.01) EPS for the quarter, missing analysts' consensus estimates of $0.62 by ($0.63). The business 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%. As a group, analysts expect that OPAL Fuels Inc. will post 0.8 EPS for the current fiscal year.

Insider Buying and Selling at OPAL Fuels

In other news, Director Scott V. Dols purchased 12,700 shares of the company's stock in a transaction dated Friday, May 23rd. The shares were acquired at an average cost of $2.72 per share, for a total transaction of $34,544.00. Following the completion of the purchase, the director now directly owns 129,599 shares in the company, valued at $352,509.28. The trade was a 10.86% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jonathan Gilbert Maurer acquired 25,000 shares of the firm's stock in a transaction that occurred on Friday, May 23rd. The shares were bought at an average cost of $2.74 per share, for a total transaction of $68,500.00. Following the acquisition, the chief executive officer now owns 176,716 shares of the company's stock, valued at $484,201.84. This represents a 16.48% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 90,232 shares of company stock worth $236,999. 84.57% of the stock is owned by company insiders.

Institutional Trading of OPAL Fuels

Several large investors have recently modified their holdings of the business. Inspire Investing LLC boosted its position in OPAL Fuels by 64.2% during the first quarter. Inspire Investing LLC now owns 195,048 shares of the company's stock worth $359,000 after acquiring an additional 76,267 shares during the last quarter. SCS Capital Management LLC acquired a new stake in OPAL Fuels during the first quarter worth approximately $683,000. Yaupon Capital Management LP boosted its position in OPAL Fuels by 1.6% during the first quarter. Yaupon Capital Management LP now owns 711,508 shares of the company's stock worth $1,309,000 after acquiring an additional 11,454 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in OPAL Fuels by 16.2% during the first quarter. Goldman Sachs Group Inc. now owns 203,006 shares of the company's stock worth $374,000 after acquiring an additional 28,374 shares during the last quarter. Finally, Invesco Ltd. boosted its position in OPAL Fuels by 40.0% during the first quarter. Invesco Ltd. now owns 2,024,745 shares of the company's stock worth $3,726,000 after acquiring an additional 578,209 shares during the last quarter. 12.16% of the stock is currently owned by institutional investors and hedge funds.

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.