OPAL Fuels (NASDAQ:OPAL) Shares Up 4.3% – Should You Buy?

OPAL Fuels Inc. (NASDAQ:OPAL)’s share price traded up 4.3% on Thursday . The company traded as high as $3.64 and last traded at $3.64. 61,684 shares changed hands during mid-day trading, a decline of 29% from the average session volume of 87,031 shares. The stock had previously closed at $3.49.

Analyst Upgrades and Downgrades

A number of brokerages have commented on OPAL. UBS Group decreased their price objective on OPAL Fuels from $8.00 to $7.50 and set a “buy” rating on the stock in a research report on Friday, August 9th. The Goldman Sachs Group dropped their price objective on OPAL Fuels from $4.50 to $3.90 and set a “sell” rating for the company in a report on Friday, August 9th. Finally, Scotiabank lowered shares of OPAL Fuels from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the company from $8.00 to $5.00 in a report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $7.90.

OPAL Fuels Trading Up 6.3 %

The firm has a market cap of $639.91 million, a P/E ratio of 4.95 and a beta of 0.49. The firm’s 50 day moving average is $3.59 and its two-hundred day moving average is $4.22.

OPAL Fuels (NASDAQ:OPAL) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. OPAL Fuels had a net margin of 2.50% and a negative return on equity of 2.14%. The company had revenue of $70.95 million for the quarter, compared to analysts’ expectations of $80.68 million. Analysts predict that OPAL Fuels Inc. will post 0.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OPAL. Sanctuary Advisors LLC bought a new stake in OPAL Fuels during the 2nd quarter worth approximately $93,000. Levin Capital Strategies L.P. acquired a new stake in shares of OPAL Fuels in the 1st quarter valued at about $136,000. Marshall Wace LLP acquired a new stake in shares of OPAL Fuels in the 2nd quarter valued at about $389,000. SIR Capital Management L.P. lifted its holdings in shares of OPAL Fuels by 76.3% in the second quarter. SIR Capital Management L.P. now owns 388,049 shares of the company’s stock valued at $1,587,000 after purchasing an additional 167,940 shares in the last quarter. Finally, Grizzlyrock Capital LLC acquired a new position in shares of OPAL Fuels during the fourth quarter worth about $4,611,000. 12.16% of the stock is 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.