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 released on Monday,Zacks.com reports.

A number of other analysts have also recently weighed in on OPAL. Wall Street Zen raised shares of OPAL Fuels from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. The Goldman Sachs Group increased their target price on shares of OPAL Fuels from $2.10 to $2.40 and gave the stock a “sell” rating in a report on Tuesday, March 17th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of OPAL Fuels in a report on Monday, December 29th. Three 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, the company currently has an average rating of “Reduce” and a consensus price target of $2.91.

OPAL Fuels Trading Down 0.8%

OPAL opened at $2.44 on Monday. The stock has a market capitalization of $423.10 million, a PE ratio of 16.27 and a beta of 0.93. The firm’s fifty day moving average price is $2.25 and its 200 day moving average price is $2.36. The company has a debt-to-equity ratio of 32.18, a current ratio of 1.18 and a quick ratio of 1.07. OPAL Fuels has a 12-month low of $1.26 and a 12-month high of $4.08.

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

Institutional Trading of OPAL Fuels

A number of large investors have recently modified their holdings of OPAL. Goldman Sachs Group Inc. increased its holdings in shares of OPAL Fuels by 16.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 203,006 shares of the company’s stock worth $374,000 after acquiring an additional 28,374 shares during the period. Geode Capital Management LLC grew its position in OPAL Fuels by 91.5% in the 2nd quarter. Geode Capital Management LLC now owns 509,294 shares of the company’s stock valued at $1,233,000 after buying an additional 243,399 shares in the last quarter. Intech Investment Management LLC bought a new position in OPAL Fuels in the 2nd quarter valued at about $28,000. New York State Common Retirement Fund bought a new position in OPAL Fuels in the 2nd quarter valued at about $93,000. Finally, Walleye Capital LLC bought a new position in OPAL Fuels in the 2nd quarter valued at about $64,000. Institutional investors and hedge funds own 12.16% of the company’s stock.

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.