OPAL Fuels (NASDAQ:OPAL) Stock Price Up 8.2% – Time to Buy?

OPAL Fuels Inc. (NASDAQ:OPAL)’s share price was up 8.2% on Tuesday . The company traded as high as $3.96 and last traded at $3.96. Approximately 25,178 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 85,451 shares. The stock had previously closed at $3.66.

Analyst Ratings Changes

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

OPAL Fuels Stock Performance

The firm has a market cap of $670.54 million, a price-to-earnings ratio of 48.75 and a beta of 0.48. The business’s 50-day moving average is $3.64 and its 200-day moving average is $4.08.

OPAL Fuels (NASDAQ:OPAL) last announced its earnings results on Wednesday, August 7th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. The business had revenue of $70.95 million during the quarter, compared to analysts’ expectations of $80.68 million. OPAL Fuels had a net margin of 2.50% and a negative return on equity of 2.14%. Equities research analysts expect that OPAL Fuels Inc. will post 0.75 EPS for the current fiscal year.

Institutional Investors Weigh In On OPAL Fuels

Hedge funds have recently made changes to their positions in the company. Sanctuary Advisors LLC bought a new position in shares of OPAL Fuels in the second quarter worth about $93,000. Levin Capital Strategies L.P. acquired a new position in shares of OPAL Fuels during the first quarter worth approximately $136,000. GSA Capital Partners LLP lifted its position in shares of OPAL Fuels by 69.3% during the third quarter. GSA Capital Partners LLP now owns 96,056 shares of the company’s stock worth $351,000 after purchasing an additional 39,325 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of OPAL Fuels during the second quarter worth approximately $389,000. Finally, Inspire Investing LLC acquired a new position in shares of OPAL Fuels during the third quarter worth approximately $430,000. Institutional investors and hedge funds own 12.16% of the company’s stock.

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.