Piper Sandler Lowers OPAL Fuels (NASDAQ:OPAL) Price Target to $8.00

OPAL Fuels (NASDAQ:OPAL) had its price objective reduced by investment analysts at Piper Sandler from $13.00 to $8.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price target points to a potential upside of 70.76% from the company’s current price.

OPAL has been the topic of a number of other reports. The Goldman Sachs Group cut their price target on shares of OPAL Fuels from $5.80 to $5.00 and set a “sell” rating on the stock in a research note on Friday, March 15th. B. Riley cut their target price on shares of OPAL Fuels from $14.00 to $10.00 and set a “buy” rating on the stock in a research note on Thursday, March 7th. Scotiabank cut their target price on shares of OPAL Fuels from $10.50 to $8.00 and set a “sector outperform” rating on the stock in a research note on Thursday, April 11th. UBS Group cut their target price on shares of OPAL Fuels from $11.00 to $8.00 and set a “buy” rating on the stock in a research note on Tuesday, March 19th. Finally, Stifel Nicolaus cut their target price on shares of OPAL Fuels from $14.00 to $13.00 and set a “buy” rating on the stock in a research note on Tuesday, January 23rd. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, OPAL Fuels currently has an average rating of “Moderate Buy” and a consensus price target of $9.29.

OPAL Fuels Price Performance

Shares of NASDAQ:OPAL opened at $4.69 on Thursday. The firm has a market capitalization of $808.07 million, a PE ratio of 6.69 and a beta of 0.52. The firm’s 50-day moving average is $4.84 and its two-hundred day moving average is $5.45. OPAL Fuels has a 1 year low of $4.43 and a 1 year high of $8.46.

OPAL Fuels (NASDAQ:OPAL) last issued its quarterly earnings results on Wednesday, March 13th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.11). The business had revenue of $87.01 million for the quarter, compared to analysts’ expectations of $98.77 million. OPAL Fuels had a negative return on equity of 1.07% and a net margin of 10.61%. Analysts expect that OPAL Fuels will post 0.59 EPS for the current fiscal year.

Hedge Funds Weigh In On OPAL Fuels

Hedge funds have recently added to or reduced their stakes in the stock. State Street Corp purchased a new position in OPAL Fuels in the first quarter valued at approximately $72,000. DAVENPORT & Co LLC purchased a new position in OPAL Fuels in the fourth quarter valued at approximately $61,000. Dimensional Fund Advisors LP purchased a new position in OPAL Fuels in the fourth quarter valued at approximately $66,000. Millennium Management LLC purchased a new position in OPAL Fuels in the fourth quarter valued at approximately $90,000. Finally, Morgan Stanley boosted its holdings in shares of OPAL Fuels by 748.8% in the fourth quarter. Morgan Stanley now owns 13,802 shares of the company’s stock valued at $100,000 after acquiring an additional 12,176 shares during the period. 12.16% of the stock is currently owned by hedge funds and other institutional investors.

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.