OPAL Fuels (NASDAQ:OPAL) Trading Up 7% – Should You Buy?

OPAL Fuels Inc. (NASDAQ:OPAL)’s stock price shot up 7% on Monday . The company traded as high as $3.20 and last traded at $3.20. 98,962 shares were traded during mid-day trading, an increase of 14% from the average session volume of 86,852 shares. The stock had previously closed at $2.99.

Analysts Set New Price Targets

Separately, Scotiabank cut shares of OPAL Fuels from a “sector outperform” rating to a “sector perform” rating and lowered their price target for the stock from $8.00 to $5.00 in a research report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $7.90.

OPAL Fuels Stock Performance

The firm has a market cap of $563.42 million, a price-to-earnings ratio of 18.11 and a beta of 0.51. The stock’s 50 day simple moving average is $3.67 and its 200-day simple moving average is $3.78.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Janus Henderson Group PLC increased its holdings in OPAL Fuels by 83.5% in the 3rd quarter. Janus Henderson Group PLC now owns 21,727 shares of the company’s stock worth $79,000 after buying an additional 9,885 shares during the period. Sanctuary Advisors LLC purchased a new position in shares of OPAL Fuels during the second quarter worth $93,000. GSA Capital Partners LLP lifted its position in OPAL Fuels by 69.3% during the third quarter. GSA Capital Partners LLP now owns 96,056 shares of the company’s stock valued at $351,000 after purchasing an additional 39,325 shares during the period. Marshall Wace LLP purchased a new stake in OPAL Fuels in the second quarter valued at $389,000. Finally, Inspire Investing LLC acquired a new stake in OPAL Fuels during the 3rd quarter worth about $430,000. 12.16% of the stock is owned by institutional investors and hedge funds.

OPAL Fuels Company Profile

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.