Analysts Set OPAL Fuels Inc. (NASDAQ:OPAL) Price Target at $8.67

OPAL Fuels Inc. (NASDAQ:OPAL) has earned a consensus recommendation of “Moderate Buy” from the six analysts that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $8.67.

A number of brokerages recently weighed in on OPAL. Scotiabank decreased their price target on shares of OPAL Fuels from $10.50 to $8.00 and set a “sector outperform” rating for the company in a research note on Thursday, April 11th. UBS Group lowered their price target on OPAL Fuels from $11.00 to $8.00 and set a “buy” rating on the stock in a report on Tuesday, March 19th. Piper Sandler reduced their price objective on OPAL Fuels from $13.00 to $8.00 and set an “overweight” rating for the company in a research note on Thursday, April 18th. B. Riley reiterated a “buy” rating and issued a $10.00 target price on shares of OPAL Fuels in a research note on Friday, June 7th. Finally, The Goldman Sachs Group cut their price target on OPAL Fuels from $5.80 to $5.00 and set a “sell” rating for the company in a research note on Friday, March 15th.

OPAL Fuels Price Performance

NASDAQ OPAL opened at $3.99 on Friday. The company has a fifty day moving average of $4.63 and a two-hundred day moving average of $4.85. OPAL Fuels has a 1 year low of $3.98 and a 1 year high of $8.46. The company has a market capitalization of $688.20 million, a PE ratio of 5.32 and a beta of 0.50.

OPAL Fuels (NASDAQ:OPAL) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.03). The firm had revenue of $64.95 million for the quarter, compared to analyst estimates of $85.18 million. OPAL Fuels had a negative return on equity of 1.06% and a net margin of 9.23%. During the same period last year, the firm earned ($0.06) EPS. On average, research analysts expect that OPAL Fuels will post 0.57 earnings per share for the current year.

Insider Transactions at OPAL Fuels

In related news, COO Anthony Falbo sold 9,621 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $4.89, for a total transaction of $47,046.69. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Scott V. Dols purchased 11,192 shares of OPAL Fuels stock in a transaction dated Monday, May 20th. The stock was bought at an average cost of $5.06 per share, for a total transaction of $56,631.52. Following the transaction, the director now owns 34,823 shares in the company, valued at $176,204.38. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Anthony Falbo sold 9,621 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $4.89, for a total value of $47,046.69. The disclosure for this sale can be found here. Company insiders own 84.43% of the company’s stock.

Hedge Funds Weigh In On OPAL Fuels

Hedge funds and other institutional investors have recently bought and sold shares of the company. DAVENPORT & Co LLC purchased a new position in shares of OPAL Fuels in the fourth quarter valued at $61,000. Levin Capital Strategies L.P. acquired a new stake in OPAL Fuels in the 1st quarter valued at about $136,000. Advisors Asset Management Inc. increased its holdings in OPAL Fuels by 27.3% during the 3rd quarter. Advisors Asset Management Inc. now owns 43,005 shares of the company’s stock valued at $353,000 after acquiring an additional 9,223 shares in the last quarter. Yarra Square Partners LP raised its position in OPAL Fuels by 18.9% during the fourth quarter. Yarra Square Partners LP now owns 313,900 shares of the company’s stock worth $1,733,000 after acquiring an additional 50,000 shares during the last quarter. Finally, HITE Hedge Asset Management LLC lifted its holdings in shares of OPAL Fuels by 81.8% in the fourth quarter. HITE Hedge Asset Management LLC now owns 383,118 shares of the company’s stock valued at $2,115,000 after purchasing an additional 172,360 shares in the last quarter. 12.16% of the stock is owned by institutional investors and hedge funds.

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.