Analysts Set OPAL Fuels Inc. (NASDAQ:OPAL) Target Price at $7.90

Shares of OPAL Fuels Inc. (NASDAQ:OPAL) have earned an average rating of “Moderate Buy” from the six brokerages that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among analysts that have covered the stock in the last year is $7.90.

A number of brokerages recently weighed in on OPAL. B. Riley reiterated a “buy” rating and issued a $10.00 target price on shares of OPAL Fuels in a report on Friday, June 7th. The Goldman Sachs Group lowered their price objective on OPAL Fuels from $4.50 to $3.90 and set a “sell” rating for the company in a report on Friday, August 9th. UBS Group decreased their target price on OPAL Fuels from $8.00 to $7.50 and set a “buy” rating for the company in a research note on Friday, August 9th. Finally, Scotiabank downgraded OPAL Fuels from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the company from $8.00 to $5.00 in a research note on Tuesday, September 3rd.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Sanctuary Advisors LLC bought a new position in shares of OPAL Fuels in the second quarter valued at $93,000. Marshall Wace LLP bought a new position in shares of OPAL Fuels in the second quarter valued at $389,000. SIR Capital Management L.P. increased its holdings in shares of OPAL Fuels by 76.3% in the second quarter. SIR Capital Management L.P. now owns 388,049 shares of the company’s stock valued at $1,587,000 after buying an additional 167,940 shares in the last quarter. Levin Capital Strategies L.P. acquired a new stake in OPAL Fuels during the 1st quarter valued at $136,000. Finally, Vanguard Group Inc. raised its stake in OPAL Fuels by 5.4% during the 1st 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 during the period. Institutional investors own 12.16% of the company’s stock.

OPAL Fuels Stock Performance

OPAL opened at $3.65 on Wednesday. The company has a market cap of $629.56 million, a P/E ratio of 4.72 and a beta of 0.48. OPAL Fuels has a one year low of $3.04 and a one year high of $8.46. The business’s 50-day simple moving average is $3.77 and its 200-day simple moving average is $4.36.

OPAL Fuels (NASDAQ:OPAL) last issued its earnings results on Wednesday, August 7th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. OPAL Fuels had a negative return on equity of 2.14% and a net margin of 2.50%. The business had revenue of $70.95 million during the quarter, compared to the consensus estimate of $80.68 million. As a group, analysts predict that OPAL Fuels will post 0.57 earnings per share for the current fiscal year.

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.