OPAL Fuels (NASDAQ:OPAL) Trading 3.3% Higher – Time to Buy?

Shares of OPAL Fuels Inc. (NASDAQ:OPAL) rose 3.3% on Tuesday . The stock traded as high as $3.41 and last traded at $3.40. Approximately 9,170 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 84,666 shares. The stock had previously closed at $3.29.

Analysts Set New Price Targets

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

OPAL Fuels Trading Down 5.1 %

The firm has a 50 day simple moving average of $3.74 and a two-hundred day simple moving average of $3.84. The company has a market capitalization of $546.14 million, a PE ratio of 17.56 and a beta of 0.51.

Hedge Funds Weigh In On OPAL Fuels

Large investors have recently made changes to their positions in the stock. SIR Capital Management L.P. grew its holdings in shares of OPAL Fuels by 76.3% in the 2nd quarter. SIR Capital Management L.P. now owns 388,049 shares of the company’s stock worth $1,587,000 after acquiring an additional 167,940 shares during the period. Marshall Wace LLP purchased a new stake in OPAL Fuels during the second quarter valued at about $389,000. Sanctuary Advisors LLC purchased a new position in OPAL Fuels in the second quarter valued at approximately $93,000. Inspire Investing LLC purchased a new stake in shares of OPAL Fuels in the third quarter worth about $430,000. Finally, GSA Capital Partners LLP lifted its position in shares of OPAL Fuels by 69.3% during the third quarter. GSA Capital Partners LLP now owns 96,056 shares of the company’s stock worth $351,000 after purchasing an additional 39,325 shares in the last quarter. Hedge funds and other institutional investors own 12.16% of the company’s stock.

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.