OPAL Fuels (NASDAQ:OPAL) Reaches New 52-Week Low – Time to Sell?

OPAL Fuels Inc. (NASDAQ:OPAL) shares hit a new 52-week low on Thursday . The company traded as low as $3.00 and last traded at $3.01, with a volume of 201794 shares changing hands. The stock had previously closed at $3.16.

Wall Street Analysts Forecast Growth

Separately, Scotiabank cut OPAL Fuels from a “sector outperform” rating to a “sector perform” rating and lowered their price target for the company from $8.00 to $5.00 in a research note on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $7.90.

OPAL Fuels Trading Down 4.7 %

The stock has a market cap of $520.22 million, a P/E ratio of 16.72 and a beta of 0.51. The company has a 50 day simple moving average of $3.74 and a 200 day simple moving average of $3.84.

Institutional Investors Weigh In On OPAL Fuels

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Janus Henderson Group PLC lifted its holdings in shares of OPAL Fuels by 83.5% in the third quarter. Janus Henderson Group PLC now owns 21,727 shares of the company’s stock worth $79,000 after acquiring an additional 9,885 shares during the last quarter. Sanctuary Advisors LLC bought a new position in OPAL Fuels during the second quarter worth $93,000. GSA Capital Partners LLP increased its holdings in OPAL Fuels by 69.3% in 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 valued at about $389,000. Finally, Inspire Investing LLC bought a new position in OPAL Fuels in the third quarter worth approximately $430,000. 12.16% of the stock is currently 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.