OPAL Fuels Inc. (NASDAQ:OPAL) Given Consensus Rating of “Reduce” by Analysts

Shares of OPAL Fuels Inc. (NASDAQ:OPAL) have earned an average recommendation of “Reduce” from the five ratings firms that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation and three have given a hold recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $2.7167.

Several equities research analysts have recently weighed in on the company. Zacks Research upgraded OPAL Fuels from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 5th. Weiss Ratings downgraded OPAL Fuels from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, May 13th. Wall Street Zen upgraded OPAL Fuels from a “strong sell” rating to a “sell” rating in a report on Sunday, May 24th. Finally, The Goldman Sachs Group increased their price target on OPAL Fuels from $2.10 to $2.40 and gave the stock a “sell” rating in a report on Tuesday, March 17th.

OPAL Fuels Trading Up 1.8%

Shares of OPAL stock opened at $2.26 on Monday. OPAL Fuels has a 1 year low of $1.65 and a 1 year high of $4.08. The company has a debt-to-equity ratio of 23.21, a current ratio of 2.20 and a quick ratio of 2.07. The stock’s 50 day simple moving average is $2.27 and its two-hundred day simple moving average is $2.32. The company has a market cap of $391.88 million, a PE ratio of 32.29 and a beta of 0.76.

OPAL Fuels (NASDAQ:OPAL) last issued its quarterly earnings data on Saturday, May 9th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.16). OPAL Fuels had a net margin of 1.33% and a negative return on equity of 479.62%. The company had revenue of $73.38 million for the quarter, compared to analysts’ expectations of $93.87 million. Research analysts predict that OPAL Fuels will post -0.2 earnings per share for the current year.

Institutional Investors Weigh In On OPAL Fuels

Several hedge funds and other institutional investors have recently modified their holdings of OPAL. Goldman Sachs Group Inc. raised its holdings in shares of OPAL Fuels by 16.2% in the first quarter. Goldman Sachs Group Inc. now owns 203,006 shares of the company’s stock worth $374,000 after buying an additional 28,374 shares during the period. Geode Capital Management LLC increased its holdings in OPAL Fuels by 91.5% during the 2nd quarter. Geode Capital Management LLC now owns 509,294 shares of the company’s stock worth $1,233,000 after purchasing an additional 243,399 shares during the period. Intech Investment Management LLC purchased a new position in OPAL Fuels during the 2nd quarter worth $28,000. New York State Common Retirement Fund purchased a new position in OPAL Fuels during the 2nd quarter worth $93,000. Finally, Walleye Capital LLC purchased a new position in OPAL Fuels during the 2nd quarter worth $64,000. 12.16% of the stock is currently owned by hedge funds and other institutional investors.

OPAL Fuels Company Profile

OPAL Fuels (NASDAQ: OPAL) is a publicly traded company headquartered in San Diego, California, specializing in the production, distribution and dispensing of renewable natural gas (RNG) for heavy-duty transportation. The company operates a network of RNG fueling stations across California, offering fleets of trucks, transit buses and logistics providers a low-carbon alternative to conventional diesel without requiring significant changes to existing vehicle technology or fueling infrastructure.

OPAL Fuels sources organic byproducts from dairy farms, landfills and food-processing facilities, converting methane-rich biogas into pipeline-quality RNG through a series of anaerobic digestion and gas-upgrading processes.