OPAL Fuels (NASDAQ:OPAL) Trading 2.9% Higher – Still a Buy?

OPAL Fuels Inc. (NASDAQ:OPAL) shares rose 2.9% on Thursday . The company traded as high as $2.54 and last traded at $2.50. Approximately 96,539 shares changed hands during mid-day trading, a decline of 37% from the average daily volume of 152,690 shares. The stock had previously closed at $2.43.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. The Goldman Sachs Group raised their target price on OPAL Fuels from $1.75 to $2.00 and gave the company a “sell” rating in a report on Monday, May 12th. Scotiabank dropped their price objective on shares of OPAL Fuels from $5.00 to $3.50 and set a “sector perform” rating for the company in a research note on Friday, April 11th.

OPAL Fuels Price Performance

The firm has a market capitalization of $433.43 million, a price-to-earnings ratio of 125.00 and a beta of 1.08. The company’s fifty day moving average price is $2.79 and its 200 day moving average price is $2.54. The company has a debt-to-equity ratio of 5.06, a quick ratio of 1.02 and a current ratio of 1.15.

OPAL Fuels (NASDAQ:OPAL) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.63). OPAL Fuels had a negative net margin of 0.24% and a negative return on equity of 1.84%. The firm had revenue of $85.41 million for the quarter, compared to analyst estimates of $85.08 million. Equities research analysts expect that OPAL Fuels Inc. will post 0.8 earnings per share for the current year.

Insider Activity

In other news, CEO Jonathan Gilbert Maurer acquired 25,000 shares of OPAL Fuels stock in a transaction that occurred on Friday, May 23rd. The shares were acquired at an average price of $2.74 per share, with a total value of $68,500.00. Following the purchase, the chief executive officer directly owned 176,716 shares of the company’s stock, valued at $484,201.84. The trade was a 16.48% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Scott V. Dols purchased 37,532 shares of the business’s stock in a transaction on Thursday, May 22nd. The stock was bought at an average cost of $2.51 per share, for a total transaction of $94,205.32. Following the purchase, the director owned 116,899 shares of the company’s stock, valued at approximately $293,416.49. This represents a 47.29% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 108,332 shares of company stock worth $293,597. 84.57% of the stock is currently owned by corporate insiders.

Institutional Trading of OPAL Fuels

A number of institutional investors have recently made changes to their positions in OPAL. Goldman Sachs Group Inc. increased its holdings in shares of OPAL Fuels by 16.2% in the first quarter. Goldman Sachs Group Inc. now owns 203,006 shares of the company’s stock valued at $374,000 after purchasing an additional 28,374 shares during the last quarter. Inspire Investing LLC grew its position in shares of OPAL Fuels by 64.2% during the 1st quarter. Inspire Investing LLC now owns 195,048 shares of the company’s stock worth $359,000 after buying an additional 76,267 shares during the period. SCS Capital Management LLC bought a new position in shares of OPAL Fuels in the 1st quarter worth $683,000. Yaupon Capital Management LP lifted its stake in OPAL Fuels by 1.6% during the 1st quarter. Yaupon Capital Management LP now owns 711,508 shares of the company’s stock valued at $1,309,000 after acquiring an additional 11,454 shares in the last quarter. Finally, Invesco Ltd. raised its stake in OPAL Fuels by 40.0% in the 1st quarter. Invesco Ltd. now owns 2,024,745 shares of the company’s stock valued at $3,726,000 after acquiring an additional 578,209 shares during the period. Institutional investors 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.