OPAL Fuels (NASDAQ:OPAL) Price Target Cut to $8.00 by Analysts at Scotiabank

OPAL Fuels (NASDAQ:OPAL) had its price objective cut by Scotiabank from $10.50 to $8.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “sector outperform” rating on the stock. Scotiabank’s target price indicates a potential upside of 63.93% from the company’s previous close.

Other analysts have also issued reports about the stock. B. Riley cut their target price on shares of OPAL Fuels from $14.00 to $10.00 and set a “buy” rating on the stock in a research note on Thursday, March 7th. Stifel Nicolaus reduced their price objective on shares of OPAL Fuels from $14.00 to $13.00 and set a “buy” rating on the stock in a report on Tuesday, January 23rd. UBS Group lowered their target price on shares of OPAL Fuels from $11.00 to $8.00 and set a “buy” rating for the company in a research note on Tuesday, March 19th. Finally, The Goldman Sachs Group dropped their target price on OPAL Fuels from $5.80 to $5.00 and set a “sell” rating on the stock in a report on Friday, March 15th. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $10.43.

OPAL Fuels Price Performance

Shares of NASDAQ:OPAL traded down $0.06 during midday trading on Thursday, reaching $4.88. 42,976 shares of the company’s stock were exchanged, compared to its average volume of 68,124. The stock has a market cap of $841.70 million, a price-to-earnings ratio of 7.01 and a beta of 0.52. OPAL Fuels has a fifty-two week low of $4.43 and a fifty-two week high of $8.46. The firm’s 50 day simple moving average is $4.84 and its two-hundred day simple moving average is $5.59.

OPAL Fuels (NASDAQ:OPAL) last announced its quarterly earnings results on Wednesday, March 13th. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.11). OPAL Fuels had a net margin of 10.61% and a negative return on equity of 1.07%. The company had revenue of $87.01 million for the quarter, compared to analyst estimates of $98.77 million. Equities research analysts predict that OPAL Fuels will post 0.59 earnings per share for the current fiscal year.

Institutional Trading of OPAL Fuels

Several institutional investors and hedge funds have recently made changes to their positions in the company. Ardsley Advisory Partners LP lifted its stake in shares of OPAL Fuels by 8.0% in the 1st quarter. Ardsley Advisory Partners LP now owns 56,501 shares of the company’s stock worth $394,000 after acquiring an additional 4,200 shares during the period. Geode Capital Management LLC lifted its position in OPAL Fuels by 12.6% in the fourth quarter. Geode Capital Management LLC now owns 37,658 shares of the company’s stock valued at $274,000 after purchasing an additional 4,222 shares during the period. State Street Corp increased its position in OPAL Fuels by 51.9% during the 2nd quarter. State Street Corp now owns 15,800 shares of the company’s stock worth $118,000 after purchasing an additional 5,400 shares during the period. JPMorgan Chase & Co. raised its stake in shares of OPAL Fuels by 7.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 89,162 shares of the company’s stock worth $665,000 after buying an additional 6,196 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its holdings in shares of OPAL Fuels by 27.3% in the 3rd quarter. Advisors Asset Management Inc. now owns 43,005 shares of the company’s stock valued at $353,000 after buying an additional 9,223 shares during the period. 12.16% of the stock is owned by hedge funds and other institutional investors.

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.