OPAL Fuels (NASDAQ:OPAL) Cut to Strong Sell at Zacks Research

Zacks Research cut shares of OPAL Fuels (NASDAQ:OPAL) from a hold rating to a strong sell rating in a report published on Monday morning,Zacks.com reports.

Several other analysts have also issued reports on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of OPAL Fuels in a research report on Monday, December 29th. Wall Street Zen raised shares of OPAL Fuels from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Finally, The Goldman Sachs Group boosted their price objective on shares of OPAL Fuels from $2.10 to $2.40 and gave the company a “sell” rating in a research note on Tuesday, March 17th. Three research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $2.91.

OPAL Fuels Stock Performance

NASDAQ OPAL opened at $2.49 on Monday. The company’s 50 day moving average is $2.25 and its 200-day moving average is $2.36. OPAL Fuels has a 12-month low of $1.26 and a 12-month high of $4.08. The company has a quick ratio of 1.07, a current ratio of 1.18 and a debt-to-equity ratio of 32.18. The firm has a market cap of $431.77 million, a P/E ratio of 16.60 and a beta of 0.93.

OPAL Fuels (NASDAQ:OPAL) last posted its quarterly earnings results on Monday, March 16th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.30). OPAL Fuels had a net margin of 1.98% and a return on equity of 77.65%. The business had revenue of $99.76 million during the quarter, compared to the consensus estimate of $98.75 million. Sell-side analysts predict that OPAL Fuels will post 0.8 earnings per share for the current year.

Institutional Investors Weigh In On OPAL Fuels

Several institutional investors have recently added to or reduced their stakes in the company. Zions Bancorporation National Association UT bought a new position in OPAL Fuels in the 4th quarter worth $27,000. Virtu Financial LLC bought a new position in OPAL Fuels in the 3rd quarter worth $49,000. Dimensional Fund Advisors LP bought a new position in OPAL Fuels in the 3rd quarter worth $35,000. Tower Research Capital LLC TRC bought a new position in OPAL Fuels in the 2nd quarter worth $46,000. Finally, Shay Capital LLC bought a new position in OPAL Fuels in the 2nd quarter worth $34,000. Hedge funds and other institutional investors own 12.16% of the company’s stock.

OPAL Fuels Company Profile

OPAL Fuels (NASDAQ: OPAL) is a publicly traded company headquartered in San Diego, California, specializing in the production, distribution and dispensing of renewable natural gas (RNG) for heavy-duty transportation. The company operates a network of RNG fueling stations across California, offering fleets of trucks, transit buses and logistics providers a low-carbon alternative to conventional diesel without requiring significant changes to existing vehicle technology or fueling infrastructure.

OPAL Fuels sources organic byproducts from dairy farms, landfills and food-processing facilities, converting methane-rich biogas into pipeline-quality RNG through a series of anaerobic digestion and gas-upgrading processes.