Piper Sandler Lowers OPAL Fuels (NASDAQ:OPAL) Price Target to $8.00

OPAL Fuels (NASDAQ:OPAL) had its price target decreased by Piper Sandler from $13.00 to $8.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s price target suggests a potential upside of 70.76% from the company’s current price.

OPAL has been the topic of several other reports. UBS Group reduced their price target on OPAL Fuels from $11.00 to $8.00 and set a “buy” rating on the stock in a research report on Tuesday, March 19th. B. Riley reduced their price target on OPAL Fuels from $14.00 to $10.00 and set a “buy” rating on the stock in a research report on Thursday, March 7th. The Goldman Sachs Group reduced their price target on OPAL Fuels from $5.80 to $5.00 and set a “sell” rating on the stock in a research report on Friday, March 15th. Stifel Nicolaus reduced their price target on OPAL Fuels from $14.00 to $13.00 and set a “buy” rating on the stock in a research report on Tuesday, January 23rd. Finally, Scotiabank reduced their price target on OPAL Fuels from $10.50 to $8.00 and set a “sector outperform” rating on the stock in a research report on Thursday, April 11th. One research analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, OPAL Fuels presently has an average rating of “Moderate Buy” and an average target price of $9.29.

OPAL Fuels Price Performance

NASDAQ OPAL opened at $4.69 on Thursday. The firm has a market capitalization of $808.07 million, a P/E ratio of 6.69 and a beta of 0.52. OPAL Fuels has a 1-year low of $4.43 and a 1-year high of $8.46. The business’s 50-day simple moving average is $4.84 and its 200-day simple moving average is $5.45.

OPAL Fuels (NASDAQ:OPAL) last released its quarterly earnings data on Wednesday, March 13th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.11). The firm had revenue of $87.01 million during the quarter, compared to analyst estimates of $98.77 million. OPAL Fuels had a net margin of 10.61% and a negative return on equity of 1.07%. On average, equities research analysts expect that OPAL Fuels will post 0.59 EPS for the current fiscal year.

Institutional Investors Weigh In On OPAL Fuels

Several hedge funds and other institutional investors have recently bought and sold shares of OPAL. Invesco Ltd. purchased a new stake in OPAL Fuels during the 3rd quarter worth approximately $7,816,000. Grizzlyrock Capital LLC purchased a new stake in OPAL Fuels during the 4th quarter worth approximately $4,611,000. Vanguard Group Inc. increased its holdings in OPAL Fuels by 17.8% during the 3rd quarter. Vanguard Group Inc. now owns 1,547,063 shares of the company’s stock worth $12,686,000 after purchasing an additional 233,895 shares during the last quarter. HITE Hedge Asset Management LLC increased its holdings in OPAL Fuels by 81.8% during the 4th quarter. HITE Hedge Asset Management LLC now owns 383,118 shares of the company’s stock worth $2,115,000 after purchasing an additional 172,360 shares during the last quarter. Finally, First Trust Advisors LP bought a new stake in shares of OPAL Fuels in the 1st quarter valued at approximately $865,000. 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.