OPAL Fuels (NASDAQ:OPAL) Shares Down 1.7% - Here's What Happened

Key Points

• OPAL Fuels shares fell 1.7% to $1.77, while trading volume surged 563% above its average. The stock remains below its 50-day and 200-day moving averages.
• Analysts maintain a negative outlook, with a consensus “Sell” rating from MarketBeat and a $2.40 price target. The company also missed quarterly estimates, reporting a $0.05 per-share loss versus the expected $0.08 profit and revenue below forecasts.
• Insiders have been buying shares, including CEO Adam Comora’s purchase of 50,000 shares at $1.93; insiders now own 85.69% of the company, while institutional investors and hedge funds own 12.16%.

OPAL Fuels Inc. (NASDAQ:OPAL - Get Free Report)'s share price traded down 1.7% during mid-day trading on Tuesday. The company traded as low as $1.72 and last traded at $1.77. Approximately 1,623,728 shares were traded during trading, an increase of 563% from the average session volume of 244,782 shares. The stock had previously closed at $1.80.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Weiss Ratings reissued a "sell (d+)" rating on shares of OPAL Fuels in a research note on Friday, August 7th. Wall Street Zen raised shares of OPAL Fuels from a "sell" rating to a "hold" rating in a research report on Saturday, August 15th. One investment analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Sell" and a consensus price target of $2.40.

OPAL Fuels Price Performance

The company has a current ratio of 1.82, a quick ratio of 1.68 and a debt-to-equity ratio of 10.89. The stock has a 50-day simple moving average of $2.09 and a 200 day simple moving average of $2.17. The stock has a market capitalization of $309.33 million, a price-to-earnings ratio of -176.82 and a beta of 0.74.

OPAL Fuels (NASDAQ:OPAL - Get Free Report) last issued its earnings results on Monday, August 10th. The company reported ($0.05) earnings per share for the quarter, missing analysts' consensus estimates of $0.08 by ($0.13). The business had revenue of $83.40 million during the quarter, compared to analyst estimates of $90.72 million. OPAL Fuels had a net margin of 0.65% and a return on equity of 15.54%.

Insiders Place Their Bets

In related news, CEO Adam Comora bought 50,000 shares of the business's stock in a transaction on Tuesday, September 1st. The stock was bought at an average price of $1.93 per share, for a total transaction of $96,500.00. Following the transaction, the chief executive officer directly owned 489,626 shares in the company, valued at $944,978.18. This represents a 11.37% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders have purchased 80,000 shares of company stock valued at $157,900. 85.69% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On OPAL Fuels

A number of hedge funds have recently modified their holdings of OPAL. J. Derek Lewis & Associates Inc. acquired a new stake in OPAL Fuels during the fourth quarter valued at $742,000. WINTON GROUP Ltd grew its stake in shares of OPAL Fuels by 439.3% in the 2nd quarter. WINTON GROUP Ltd now owns 67,780 shares of the company's stock valued at $149,000 after buying an additional 55,213 shares in the last quarter. Renaissance Technologies LLC bought a new position in OPAL Fuels during the first quarter valued at approximately $29,000. Bank of New York Mellon Corp raised its position in OPAL Fuels by 18.6% during the first quarter. Bank of New York Mellon Corp now owns 41,739 shares of the company's stock valued at $105,000 after acquiring an additional 6,548 shares in the last quarter. Finally, Inspire Investing LLC acquired a new stake in OPAL Fuels in the first quarter valued at approximately $554,000. 12.16% of the stock is owned by institutional investors and hedge funds.

About OPAL Fuels

OPAL Fuels Inc is a renewable fuels and energy company that develops and operates infrastructure for converting organic waste into lower-carbon energy. Its activities focus primarily on renewable natural gas (RNG), a fuel produced from biogas captured at landfills, wastewater treatment facilities, and other waste sites.

The company develops, constructs, owns, and operates RNG production facilities and related gas upgrading systems. Its RNG can be used as a transportation fuel, injected into natural gas pipelines, or sold through environmental and renewable energy markets.

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