OPAL Fuels (NASDAQ:OPAL) Shares Down 1.7% – What’s Next?

OPAL Fuels Inc. (NASDAQ:OPAL)’s share price traded down 1.7% on Tuesday. The company traded as low as $1.72 and last traded at $1.77. Approximately 1,623,728 shares were traded during trading, an increase of 563% from the average daily volume of 244,782 shares. The stock had previously closed at $1.80.

Analyst Ratings Changes

Several equities research analysts recently issued reports on OPAL shares. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of OPAL Fuels in a research note on Friday, August 7th. Wall Street Zen raised shares of OPAL Fuels from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. One analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Sell” and an average target price of $2.40.

OPAL Fuels Stock Down 1.7%

The stock has a market cap of $309.33 million, a P/E ratio of -176.82 and a beta of 0.74. The company has a quick ratio of 1.68, a current ratio of 1.82 and a debt-to-equity ratio of 10.89. The business has a 50-day simple moving average of $2.09 and a 200-day simple moving average of $2.17.

OPAL Fuels (NASDAQ:OPAL) last released its quarterly earnings results on Monday, August 10th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.13). OPAL Fuels had a net margin of 0.65% and a return on equity of 15.54%. The firm had revenue of $83.40 million during the quarter, compared to the consensus estimate of $90.72 million.

Insider Transactions at OPAL Fuels

In other news, CEO Adam Comora bought 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The shares were purchased at an average price of $1.93 per share, for a total transaction of $96,500.00. Following the acquisition, the chief executive officer directly owned 489,626 shares of the company’s stock, valued at $944,978.18. The trade was a 11.37% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last quarter, insiders have acquired 80,000 shares of company stock valued at $157,900. Company insiders own 85.69% of the company’s stock.

Institutional Trading of OPAL Fuels

Hedge funds have recently added to or reduced their stakes in the business. WINTON GROUP Ltd lifted its holdings in shares of OPAL Fuels by 439.3% during the second quarter. WINTON GROUP Ltd now owns 67,780 shares of the company’s stock worth $149,000 after buying an additional 55,213 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of OPAL Fuels in the first quarter worth $29,000. Bank of New York Mellon Corp grew its stake in shares of OPAL Fuels by 18.6% in the first quarter. Bank of New York Mellon Corp now owns 41,739 shares of the company’s stock worth $105,000 after acquiring an additional 6,548 shares during the last quarter. Inspire Investing LLC bought a new position in OPAL Fuels during the first quarter worth $554,000. Finally, J. Derek Lewis & Associates Inc. bought a new position in OPAL Fuels during the fourth quarter worth $742,000. Institutional investors own 12.16% of the company’s stock.

OPAL Fuels Company Profile

OPAL Fuels Inc is a renewable fuels and energy company that develops and operates infrastructure for converting organic waste into lower-carbon energy. Its activities focus primarily on renewable natural gas (RNG), a fuel produced from biogas captured at landfills, wastewater treatment facilities, and other waste sites.

The company develops, constructs, owns, and operates RNG production facilities and related gas upgrading systems. Its RNG can be used as a transportation fuel, injected into natural gas pipelines, or sold through environmental and renewable energy markets.