Analysts Set OPAL Fuels Inc. (NASDAQ:OPAL) PT at $2.81

Shares of OPAL Fuels Inc. (NASDAQ:OPAL) have been given an average recommendation of “Reduce” by the six ratings firms that are covering the company, Marketbeat reports. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $2.8125.

A number of brokerages have recently issued reports on OPAL. Wall Street Zen raised shares of OPAL Fuels from a “sell” rating to a “hold” rating in a research report on Monday, January 5th. Weiss Ratings reissued a “sell (d)” rating on shares of OPAL Fuels in a report on Monday, December 29th.

Hedge Funds Weigh In On OPAL Fuels

Several large investors have recently added to or reduced their stakes in the company. Invesco Ltd. increased its stake in shares of OPAL Fuels by 125.5% in the third quarter. Invesco Ltd. now owns 2,937,645 shares of the company’s stock worth $6,463,000 after purchasing an additional 1,634,645 shares in the last quarter. Geode Capital Management LLC increased its stake in OPAL Fuels by 91.5% in the 2nd quarter. Geode Capital Management LLC now owns 509,294 shares of the company’s stock worth $1,233,000 after buying an additional 243,399 shares in the last quarter. Rockefeller Capital Management L.P. purchased a new stake in OPAL Fuels in the 2nd quarter worth $585,000. Jane Street Group LLC bought a new stake in OPAL Fuels during the second quarter valued at about $107,000. Finally, Levin Capital Strategies L.P. purchased a new position in shares of OPAL Fuels in the second quarter valued at about $97,000. Hedge funds and other institutional investors own 12.16% of the company’s stock.

OPAL Fuels Stock Performance

OPAL stock opened at $2.61 on Tuesday. The stock’s 50 day simple moving average is $2.42 and its 200 day simple moving average is $2.39. The company has a current ratio of 1.47, a quick ratio of 1.33 and a debt-to-equity ratio of 32.18. OPAL Fuels has a 12-month low of $1.26 and a 12-month high of $4.08. The stock has a market capitalization of $452.57 million, a PE ratio of 130.57 and a beta of 1.07.

OPAL Fuels (NASDAQ:OPAL) last posted its earnings results on Friday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.09). The business had revenue of $83.36 million for the quarter, compared to analyst estimates of $98.03 million. As a group, research analysts forecast that OPAL Fuels will post 0.8 earnings per share for the current fiscal year.

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.