Invesco Ltd. Acquires 578,209 Shares of OPAL Fuels Inc. $OPAL

Invesco Ltd. grew its holdings in OPAL Fuels Inc. (NASDAQ:OPAL) by 40.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,024,745 shares of the company’s stock after buying an additional 578,209 shares during the period. Invesco Ltd. owned approximately 1.17% of OPAL Fuels worth $3,726,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in OPAL. Squarepoint Ops LLC grew its position in OPAL Fuels by 20.2% in the fourth quarter. Squarepoint Ops LLC now owns 31,983 shares of the company’s stock worth $108,000 after acquiring an additional 5,377 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of OPAL Fuels in the 4th quarter valued at approximately $238,000. Marshall Wace LLP purchased a new position in shares of OPAL Fuels in the 4th quarter worth approximately $389,000. Ardsley Advisory Partners LP boosted its holdings in shares of OPAL Fuels by 20.0% in the 4th quarter. Ardsley Advisory Partners LP now owns 150,000 shares of the company’s stock worth $508,000 after purchasing an additional 25,000 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of OPAL Fuels by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 262,876 shares of the company’s stock valued at $891,000 after purchasing an additional 5,327 shares during the last quarter. 12.16% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on OPAL. Johnson Rice downgraded OPAL Fuels from a “strong-buy” rating to a “hold” rating and lowered their price target for the stock from $4.00 to $3.00 in a research report on Tuesday, July 22nd. The Goldman Sachs Group raised their target price on shares of OPAL Fuels from $1.75 to $2.00 and gave the stock a “sell” rating in a report on Monday, May 12th. UBS Group cut shares of OPAL Fuels from a “strong-buy” rating to a “hold” rating and dropped their price target for the stock from $3.50 to $2.75 in a research note on Wednesday, July 23rd. Finally, Wall Street Zen lowered shares of OPAL Fuels from a “hold” rating to a “strong sell” rating in a research report on Saturday, August 16th. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $2.81.

OPAL Fuels Stock Up 0.9%

Shares of OPAL opened at $2.33 on Friday. The firm has a fifty day moving average price of $2.46 and a 200-day moving average price of $2.37. The company has a current ratio of 1.26, a quick ratio of 1.12 and a debt-to-equity ratio of 5.06. The firm has a market capitalization of $404.02 million, a P/E ratio of 38.83 and a beta of 1.08. OPAL Fuels Inc. has a 12-month low of $1.26 and a 12-month high of $4.11.

OPAL Fuels (NASDAQ:OPAL) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.10). The company had revenue of $80.46 million during the quarter, compared to analysts’ expectations of $88.75 million. OPAL Fuels had a negative return on equity of 1.84% and a negative net margin of 0.74%. Equities research analysts expect that OPAL Fuels Inc. will post 0.8 earnings per share for the current year.

Insider Activity at OPAL Fuels

In other news, Director Nadeem Nisar purchased 10,000 shares of the stock in a transaction that occurred on Friday, June 13th. The stock was purchased at an average price of $3.17 per share, for a total transaction of $31,700.00. Following the completion of the acquisition, the director owned 141,712 shares of the company’s stock, valued at approximately $449,227.04. This trade represents a 7.59% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Adam Comora acquired 18,256 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The stock was purchased at an average cost of $2.32 per share, for a total transaction of $42,353.92. Following the purchase, the chief executive officer owned 254,517 shares of the company’s stock, valued at $590,479.44. This represents a 7.73% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 58,100 shares of company stock valued at $148,963 in the last ninety days. Insiders own 84.57% 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.