OPAL Fuels (NASDAQ:OPAL) Shares Gap Up to $3.54

Shares of OPAL Fuels Inc. (NASDAQ:OPAL) gapped up before the market opened on Wednesday . The stock had previously closed at $3.54, but opened at $3.65. OPAL Fuels shares last traded at $3.65, with a volume of 465 shares.

Wall Street Analysts Forecast Growth

Several brokerages have commented on OPAL. UBS Group cut 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. B. Riley reaffirmed a “buy” rating and issued a $10.00 price target on shares of OPAL Fuels in a research note on Friday, June 7th. Scotiabank lowered shares of OPAL Fuels from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the company from $8.00 to $5.00 in a report on Tuesday, September 3rd. Finally, The Goldman Sachs Group dropped their target price on shares of OPAL Fuels from $4.50 to $3.90 and set a “sell” rating on the stock in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, OPAL Fuels has an average rating of “Moderate Buy” and an average price target of $7.90.

OPAL Fuels Stock Performance

The company has a market capitalization of $629.56 million, a P/E ratio of 4.87 and a beta of 0.48. The company’s fifty day simple moving average is $3.76 and its 200-day simple moving average is $4.35.

OPAL Fuels (NASDAQ:OPAL) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. The firm had revenue of $70.95 million for the quarter, compared to the consensus estimate of $80.68 million. OPAL Fuels had a net margin of 2.50% and a negative return on equity of 2.14%. On average, sell-side analysts predict that OPAL Fuels Inc. will post 0.57 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in OPAL. Grizzlyrock Capital LLC bought a new stake in OPAL Fuels during the fourth quarter valued at about $4,611,000. Vanguard Group Inc. lifted its position in shares of OPAL Fuels by 5.4% during the first quarter. Vanguard Group Inc. now owns 1,674,624 shares of the company’s stock valued at $8,407,000 after buying an additional 86,531 shares during the last quarter. Levin Capital Strategies L.P. bought a new stake in shares of OPAL Fuels in the 1st quarter valued at about $136,000. SIR Capital Management L.P. grew its position in shares of OPAL Fuels by 76.3% in the 2nd quarter. SIR Capital Management L.P. now owns 388,049 shares of the company’s stock worth $1,587,000 after buying an additional 167,940 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in shares of OPAL Fuels in the 2nd quarter worth approximately $389,000. 12.16% of the stock is currently owned by hedge funds and other 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.