Zacks Research Downgrades OPAL Fuels (NASDAQ:OPAL) to Strong Sell

OPAL Fuels (NASDAQ:OPAL) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Monday,Zacks.com reports.

A number of other equities research analysts have also recently weighed in on the company. Weiss Ratings restated a “sell (d)” rating on shares of OPAL Fuels in a research note on Monday, December 29th. The Goldman Sachs Group increased their price target on OPAL Fuels from $2.10 to $2.40 and gave the company a “sell” rating in a research note on Tuesday, March 17th. Finally, Wall Street Zen upgraded OPAL Fuels from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Three investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, OPAL Fuels currently has an average rating of “Reduce” and a consensus target price of $2.91.

OPAL Fuels Stock Down 0.8%

OPAL opened at $2.44 on Monday. OPAL Fuels has a 1-year low of $1.26 and a 1-year high of $4.08. The stock’s fifty day simple moving average is $2.25 and its 200 day simple moving average is $2.36. The company has a current ratio of 1.18, a quick ratio of 1.07 and a debt-to-equity ratio of 32.18. The stock has a market cap of $423.10 million, a PE ratio of 16.27 and a beta of 0.93.

OPAL Fuels (NASDAQ:OPAL) last posted its quarterly earnings results on Monday, March 16th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.30). OPAL Fuels had a net margin of 1.98% and a return on equity of 77.65%. The business had revenue of $99.76 million during the quarter, compared to the consensus estimate of $98.75 million. As a group, research analysts expect that OPAL Fuels will post 0.8 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Zions Bancorporation National Association UT acquired a new position in OPAL Fuels in the 4th quarter valued at $27,000. Mariner LLC acquired a new position in OPAL Fuels in the 4th quarter valued at $27,000. Engineers Gate Manager LP acquired a new position in OPAL Fuels in the 2nd quarter valued at $27,000. Intech Investment Management LLC acquired a new position in OPAL Fuels in the 2nd quarter valued at $28,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in OPAL Fuels in the 2nd quarter valued at $28,000. 12.16% of the stock is owned by institutional investors and hedge funds.

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.