OPAL Fuels Inc. (NASDAQ:OPAL) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of OPAL Fuels Inc. (NASDAQ:OPAL) have received an average rating of “Moderate Buy” from the eight brokerages that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation and seven have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $14.00.

A number of analysts have recently commented on the company. Piper Sandler boosted their price objective on OPAL Fuels from $12.00 to $16.00 in a research note on Tuesday, August 1st. Janney Montgomery Scott assumed coverage on shares of OPAL Fuels in a research report on Friday, May 26th. They set a “buy” rating and a $13.00 price objective for the company. The Goldman Sachs Group started coverage on shares of OPAL Fuels in a report on Thursday. They issued a “sell” rating on the stock. Finally, Stifel Nicolaus lifted their price target on shares of OPAL Fuels from $14.00 to $15.00 in a research report on Tuesday, June 27th.

OPAL Fuels Stock Performance

Shares of OPAL opened at $6.62 on Friday. OPAL Fuels has a one year low of $5.25 and a one year high of $10.79. The stock’s fifty day moving average is $7.28 and its 200-day moving average is $7.15. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of 9.19 and a beta of 0.69.

OPAL Fuels (NASDAQ:OPAL) last released its quarterly earnings results on Wednesday, August 9th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.04). The company had revenue of $55.04 million for the quarter, compared to the consensus estimate of $65.44 million. OPAL Fuels had a negative return on equity of 0.66% and a net margin of 10.96%. Analysts forecast that OPAL Fuels will post -0.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Encompass Capital Advisors LLC grew its stake in OPAL Fuels by 52.5% during the 2nd quarter. Encompass Capital Advisors LLC now owns 2,741,370 shares of the company’s stock valued at $20,404,000 after acquiring an additional 943,941 shares in the last quarter. Bank of Montreal Can purchased a new position in OPAL Fuels during the second quarter valued at approximately $9,514,000. Yarra Square Partners LP increased its stake in OPAL Fuels by 16.7% in the 2nd quarter. Yarra Square Partners LP now owns 263,564 shares of the company’s stock valued at $1,966,000 after buying an additional 37,664 shares during the period. CWM LLC lifted its position in OPAL Fuels by 166,354.5% in the 2nd quarter. CWM LLC now owns 238,030 shares of the company’s stock worth $1,776,000 after buying an additional 237,887 shares in the last quarter. Finally, Vanguard Group Inc. purchased a new stake in OPAL Fuels in the 3rd quarter worth approximately $1,297,000. 11.17% of the stock is owned by institutional investors and hedge funds.

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.