OPAL Fuels (NASDAQ:OPAL) Raised to “Hold” at Zacks Research

OPAL Fuels (NASDAQ:OPAL) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

A number of other research firms have also recently issued reports on OPAL. The Goldman Sachs Group raised their target price on OPAL Fuels from $2.10 to $2.40 and gave the company a “sell” rating in a research note on Tuesday, March 17th. Weiss Ratings upgraded OPAL Fuels from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, April 27th. Finally, Wall Street Zen raised OPAL Fuels from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Four research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $2.72.

OPAL Fuels Stock Performance

Shares of NASDAQ OPAL opened at $2.28 on Tuesday. The company has a quick ratio of 1.07, a current ratio of 1.18 and a debt-to-equity ratio of 32.18. The stock has a market capitalization of $395.35 million, a P/E ratio of 15.20 and a beta of 0.76. OPAL Fuels has a 52-week low of $1.65 and a 52-week high of $4.08. The firm’s 50-day moving average price is $2.29 and its two-hundred day moving average price is $2.35.

OPAL Fuels (NASDAQ:OPAL) last posted its earnings results on Monday, March 16th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.30). The company had revenue of $99.76 million during the quarter, compared to the consensus estimate of $98.75 million. OPAL Fuels had a net margin of 1.98% and a return on equity of 77.65%. As a group, sell-side analysts forecast 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 bought and sold shares of OPAL. Zions Bancorporation National Association UT bought a new stake in OPAL Fuels in the fourth quarter worth about $27,000. Mariner LLC bought a new stake in OPAL Fuels in the fourth quarter worth about $27,000. Engineers Gate Manager LP bought a new stake in OPAL Fuels in the second quarter worth about $27,000. Intech Investment Management LLC bought a new position in shares of OPAL Fuels in the second quarter valued at $28,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of OPAL Fuels in the second quarter valued at $28,000. 12.16% of the stock is currently owned by 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.