OPAL Fuels (NASDAQ:OPAL) Trading 7% Higher – Should You Buy?

OPAL Fuels Inc. (NASDAQ:OPAL)’s stock price was up 7% during trading on Monday . The stock traded as high as $3.20 and last traded at $3.20. Approximately 98,962 shares changed hands during mid-day trading, an increase of 14% from the average daily volume of 86,852 shares. The stock had previously closed at $2.99.

Wall Street Analyst Weigh In

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

OPAL Fuels Stock Up 6.4 %

The firm has a fifty day moving average price of $3.70 and a 200 day moving average price of $3.80. The company has a market cap of $549.60 million, a P/E ratio of 17.67 and a beta of 0.51.

Institutional Trading of OPAL Fuels

Hedge funds and other institutional investors have recently modified their holdings of the stock. SIR Capital Management L.P. increased its stake 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 valued at $1,587,000 after buying an additional 167,940 shares during the period. Marshall Wace LLP bought a new position in OPAL Fuels in the second quarter valued at about $389,000. Sanctuary Advisors LLC bought a new position in OPAL Fuels in the second quarter valued at about $93,000. Inspire Investing LLC acquired a new stake in OPAL Fuels in the third quarter worth about $430,000. Finally, GSA Capital Partners LLP raised its holdings in OPAL Fuels by 69.3% during the 3rd 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 during the last quarter. 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.