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

OPAL Fuels Inc. (NASDAQ:OPAL) has earned a consensus recommendation of “Moderate Buy” from the seven analysts that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation and six have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $9.29.

Several research firms recently issued reports on OPAL. Piper Sandler reduced their price objective on shares of OPAL Fuels from $13.00 to $8.00 and set an “overweight” rating for the company in a research note on Thursday, April 18th. Stifel Nicolaus cut their price objective on shares of OPAL Fuels from $14.00 to $13.00 and set a “buy” rating for the company in a research report on Tuesday, January 23rd. Scotiabank lowered their target price on shares of OPAL Fuels from $10.50 to $8.00 and set a “sector outperform” rating on the stock in a research note on Thursday, April 11th. UBS Group decreased their price objective on shares of OPAL Fuels from $11.00 to $8.00 and set a “buy” rating on the stock in a research note on Tuesday, March 19th. Finally, B. Riley reduced their target price on shares of OPAL Fuels from $14.00 to $10.00 and set a “buy” rating on the stock in a research report on Thursday, March 7th.

Institutional Investors Weigh In On OPAL Fuels

Several hedge funds have recently bought and sold shares of OPAL. Grizzlyrock Capital LLC bought a new stake in shares of OPAL Fuels during the fourth quarter worth $4,611,000. HITE Hedge Asset Management LLC raised its stake in shares of 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 in the last quarter. Yarra Square Partners LP increased its stake in shares of OPAL Fuels by 18.9% during the 4th quarter. Yarra Square Partners LP now owns 313,900 shares of the company’s stock worth $1,733,000 after purchasing an additional 50,000 shares during the last quarter. DAVENPORT & Co LLC bought a new position in OPAL Fuels during the fourth quarter worth about $61,000. Finally, Advisors Asset Management Inc. increased its position in OPAL Fuels by 27.3% during the third quarter. Advisors Asset Management Inc. now owns 43,005 shares of the company’s stock worth $353,000 after buying an additional 9,223 shares during the last quarter. 12.16% of the stock is currently owned by institutional investors and hedge funds.

OPAL Fuels Price Performance

OPAL Fuels stock opened at $4.95 on Thursday. The stock has a market capitalization of $853.79 million, a PE ratio of 7.07 and a beta of 0.53. OPAL Fuels has a 12-month low of $4.43 and a 12-month high of $8.46. The firm has a 50 day simple moving average of $4.81 and a 200-day simple moving average of $5.19.

OPAL Fuels (NASDAQ:OPAL) last posted its quarterly earnings results on Wednesday, March 13th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.11). OPAL Fuels had a negative return on equity of 1.07% and a net margin of 10.61%. The business had revenue of $87.01 million during the quarter, compared to analyst estimates of $98.77 million. On average, analysts forecast that OPAL Fuels will post 0.53 earnings per share for the current fiscal year.

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.