OPAL Fuels (NASDAQ:OPAL) Trading 2.9% Higher - Time to Buy?

OPAL Fuels Inc. (NASDAQ:OPAL - Get Free Report) shares were up 2.9% during trading on Thursday . The stock traded as high as $2.54 and last traded at $2.50. Approximately 96,539 shares were traded during mid-day trading, a decline of 37% from the average daily volume of 152,690 shares. The stock had previously closed at $2.43.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. The Goldman Sachs Group upped their target price on OPAL Fuels from $1.75 to $2.00 and gave the company a "sell" rating in a research report on Monday, May 12th. Scotiabank cut their price objective 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.

OPAL Fuels Stock Up 0.8%

The company has a market cap of $440.36 million, a P/E ratio of 127.00 and a beta of 1.08. The stock's 50-day moving average price is $2.80 and its 200-day moving average price is $2.52. The company has a current ratio of 1.15, a quick ratio of 1.02 and a debt-to-equity ratio of 5.06.

OPAL Fuels (NASDAQ:OPAL - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.62 by ($0.63). OPAL Fuels had a negative net margin of 0.24% and a negative return on equity of 1.84%. The firm had revenue of $85.41 million during the quarter, compared to the consensus estimate of $85.08 million. As a group, research analysts forecast that OPAL Fuels Inc. will post 0.8 EPS for the current year.

Insider Buying and Selling

In other news, Director Scott V. Dols acquired 12,700 shares of OPAL Fuels stock in a transaction dated Friday, May 23rd. The stock was purchased at an average cost of $2.72 per share, with a total value of $34,544.00. Following the completion of the purchase, the director directly owned 129,599 shares in the company, valued at approximately $352,509.28. This trade represents a 10.86% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Nadeem Nisar acquired 10,000 shares of OPAL Fuels stock in a transaction dated Friday, June 13th. The stock was purchased at an average cost of $3.17 per share, with a total value of $31,700.00. Following the completion of the purchase, the director owned 141,712 shares of the company's stock, valued at approximately $449,227.04. This represents a 7.59% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 108,332 shares of company stock valued at $293,597 over the last quarter. Corporate insiders own 84.43% of the company's stock.

Hedge Funds Weigh In On OPAL Fuels

Large investors have recently made changes to their positions in the company. Invesco Ltd. grew its position in OPAL Fuels by 40.0% during the 1st quarter. Invesco Ltd. now owns 2,024,745 shares of the company's stock worth $3,726,000 after purchasing an additional 578,209 shares during the last quarter. SCS Capital Management LLC acquired a new position in OPAL Fuels during the first quarter worth about $683,000. Marshall Wace LLP purchased a new position in OPAL Fuels during the fourth quarter worth about $389,000. Russell Investments Group Ltd. raised its stake in shares of OPAL Fuels by 28.9% in the 4th 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 during the period. Finally, Inspire Investing LLC raised its stake in shares of OPAL Fuels by 64.2% in the 1st quarter. Inspire Investing LLC now owns 195,048 shares of the company's stock valued at $359,000 after acquiring an additional 76,267 shares during the period. 12.16% of the stock is owned by hedge funds and other institutional investors.

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.