OPAL Fuels (NASDAQ:OPAL) Shares Up 6.5%

OPAL Fuels Inc. (NASDAQ:OPAL)’s share price shot up 6.5% during trading on Friday . The company traded as high as $4.28 and last traded at $4.28. 45,633 shares changed hands during mid-day trading, a decline of 38% from the average session volume of 73,286 shares. The stock had previously closed at $4.02.

Wall Street Analysts Forecast Growth

A number of research firms have commented on OPAL. B. Riley reissued a “buy” rating and issued a $10.00 price objective on shares of OPAL Fuels in a research note on Friday, June 7th. Piper Sandler cut their price target on OPAL Fuels from $13.00 to $8.00 and set an “overweight” rating on the stock in a research note on Thursday, April 18th. Scotiabank cut their price target on OPAL Fuels from $10.50 to $8.00 and set a “sector outperform” rating on the stock in a research note on Thursday, April 11th. Finally, UBS Group cut their price target on OPAL Fuels from $11.00 to $8.00 and set a “buy” rating on the stock in a research note on Tuesday, March 19th. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $8.67.

OPAL Fuels Price Performance

The firm has a 50 day simple moving average of $4.53 and a two-hundred day simple moving average of $4.77. The stock has a market cap of $745.11 million, a price-to-earnings ratio of 5.76 and a beta of 0.50.

OPAL Fuels (NASDAQ:OPAL) last released its earnings results on Thursday, May 9th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.03). OPAL Fuels had a net margin of 9.23% and a negative return on equity of 1.06%. The company had revenue of $64.95 million during the quarter, compared to analyst estimates of $85.18 million. During the same period in the previous year, the company posted ($0.06) EPS. On average, sell-side analysts expect that OPAL Fuels Inc. will post 0.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other OPAL Fuels news, COO Anthony Falbo sold 9,621 shares of the stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $4.89, for a total value of $47,046.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Scott V. Dols acquired 11,192 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The stock was acquired at an average cost of $5.06 per share, for a total transaction of $56,631.52. Following the completion of the acquisition, the director now owns 34,823 shares in the company, valued at $176,204.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Anthony Falbo sold 9,621 shares of the stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $4.89, for a total value of $47,046.69. The disclosure for this sale can be found here. Corporate insiders own 84.43% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. DAVENPORT & Co LLC bought a new position in shares of OPAL Fuels during the fourth quarter worth about $61,000. Levin Capital Strategies L.P. bought a new position in shares of OPAL Fuels during the first quarter worth about $136,000. Yarra Square Partners LP grew its holdings in shares of OPAL Fuels by 18.9% during the fourth quarter. Yarra Square Partners LP now owns 313,900 shares of the company’s stock worth $1,733,000 after buying an additional 50,000 shares in the last quarter. HITE Hedge Asset Management LLC grew its stake in OPAL Fuels by 81.8% in the fourth quarter. HITE Hedge Asset Management LLC now owns 383,118 shares of the company’s stock valued at $2,115,000 after purchasing an additional 172,360 shares in the last quarter. Finally, Grizzlyrock Capital LLC bought a new position in OPAL Fuels in the fourth quarter valued at approximately $4,611,000. 12.16% of the stock is currently owned by institutional investors.

About OPAL Fuels

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.