OPAL Fuels (NASDAQ:OPAL) Price Target Lowered to $8.00 at Piper Sandler

OPAL Fuels (NASDAQ:OPAL) had its target price reduced by equities research analysts at Piper Sandler from $13.00 to $8.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price objective suggests a potential upside of 69.49% from the company’s previous close.

OPAL has been the subject of several other research reports. UBS Group reduced 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. B. Riley dropped their target price on shares of OPAL Fuels from $14.00 to $10.00 and set a “buy” rating for the company in a research report on Thursday, March 7th. Scotiabank lowered their price objective on shares of OPAL Fuels from $10.50 to $8.00 and set a “sector outperform” rating for the company in a report on Thursday, April 11th. Stifel Nicolaus cut their price objective on shares of OPAL Fuels from $14.00 to $13.00 and set a “buy” rating for the company in a research note on Tuesday, January 23rd. Finally, The Goldman Sachs Group cut their price objective on shares of OPAL Fuels from $5.80 to $5.00 and set a “sell” rating for the company in a research note on Friday, March 15th. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. According to MarketBeat.com, OPAL Fuels currently has an average rating of “Moderate Buy” and an average target price of $9.29.

OPAL Fuels Stock Performance

Shares of OPAL Fuels stock traded down $0.01 during trading hours on Thursday, reaching $4.72. The company’s stock had a trading volume of 1,320 shares, compared to its average volume of 66,532. The stock’s fifty day simple moving average is $4.84 and its two-hundred day simple moving average is $5.47. OPAL Fuels has a one year low of $4.43 and a one year high of $8.46. The company has a market capitalization of $814.11 million, a P/E ratio of 6.76 and a beta of 0.52.

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

Institutional Investors Weigh In On OPAL Fuels

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in OPAL Fuels by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 1,588,093 shares of the company’s stock valued at $8,766,000 after buying an additional 41,030 shares during the period. West Tower Group LLC purchased a new stake in OPAL Fuels during the 4th quarter valued at $173,000. Grizzlyrock Capital LLC purchased a new stake in OPAL Fuels during the 4th quarter valued at $4,611,000. HITE Hedge Asset Management LLC boosted its position in OPAL Fuels by 81.8% during the 4th quarter. HITE Hedge Asset Management LLC now owns 383,118 shares of the company’s stock valued at $2,115,000 after buying an additional 172,360 shares during the period. Finally, Stifel Financial Corp boosted its position in OPAL Fuels by 48.3% during the 4th quarter. Stifel Financial Corp now owns 90,130 shares of the company’s stock valued at $498,000 after buying an additional 29,358 shares during the period. Hedge funds and other institutional investors own 12.16% of the company’s stock.

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.