OPAL Fuels (NASDAQ:OPAL) Shares Gap Up to $4.00

Shares of OPAL Fuels Inc. (NASDAQ:OPAL) gapped up prior to trading on Thursday . The stock had previously closed at $4.00, but opened at $4.21. OPAL Fuels shares last traded at $4.21, with a volume of 1,004 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Scotiabank reduced their target price on OPAL Fuels from $10.50 to $8.00 and set a “sector outperform” rating for the company in a report on Thursday, April 11th. 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 report on Thursday, April 18th. Finally, B. Riley reissued a “buy” rating and set a $10.00 price objective on shares of OPAL Fuels in a report on Friday, June 7th. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to data from MarketBeat, OPAL Fuels presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.67.

OPAL Fuels Price Performance

The company has a 50 day simple moving average of $4.41 and a 200-day simple moving average of $4.70. The stock has a market cap of $686.47 million, a P/E ratio of 5.33 and a beta of 0.50.

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

Insider Buying and Selling

In other OPAL Fuels news, Director Scott V. Dols acquired 11,192 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were acquired at an average cost of $5.06 per share, with a total value of $56,631.52. Following the transaction, the director now owns 34,823 shares of the company’s stock, valued at approximately $176,204.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Scott V. Dols purchased 11,192 shares of the stock in a transaction dated Monday, May 20th. The shares were purchased at an average cost of $5.06 per share, with a total value of $56,631.52. Following the acquisition, the director now directly owns 34,823 shares of the company’s stock, valued at $176,204.38. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Anthony Falbo sold 9,621 shares of the stock in a transaction on Tuesday, May 21st. The shares were 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. 84.43% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On OPAL Fuels

A number of institutional investors have recently bought and sold shares of the stock. DAVENPORT & Co LLC purchased a new stake in OPAL Fuels in the 4th quarter worth $61,000. Levin Capital Strategies L.P. purchased a new position in shares of OPAL Fuels during the first quarter valued at about $136,000. Yarra Square Partners LP grew its position in shares of OPAL Fuels by 18.9% during the fourth quarter. Yarra Square Partners LP now owns 313,900 shares of the company’s stock valued at $1,733,000 after purchasing an additional 50,000 shares in the last quarter. Grizzlyrock Capital LLC purchased a new position in shares of OPAL Fuels during the fourth quarter valued at about $4,611,000. Finally, Vanguard Group Inc. grew its position in shares of OPAL Fuels by 5.4% during the first quarter. Vanguard Group Inc. now owns 1,674,624 shares of the company’s stock valued at $8,407,000 after purchasing an additional 86,531 shares in the last quarter. 12.16% of the stock is owned by 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.