OPAL Fuels (NASDAQ:OPAL) Stock Price Down 1.7% – Here’s Why

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

Wall Street Analysts Forecast Growth

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

OPAL Fuels Stock Performance

The company has a market cap of $305.83 million, a P/E ratio of -174.83 and a beta of 0.74. The company has a 50 day moving average price of $2.08 and a 200-day moving average price of $2.17. The company has a quick ratio of 1.68, a current ratio of 1.82 and a debt-to-equity ratio of 10.89.

OPAL Fuels (NASDAQ:OPAL) last issued 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). The business had revenue of $83.40 million for the quarter, compared to analyst estimates of $90.72 million. OPAL Fuels had a net margin of 0.65% and a return on equity of 15.54%.

Insider Buying and Selling

In related news, CEO Adam Comora purchased 50,000 shares of the company’s stock in a transaction on Tuesday, September 1st. The shares were bought at an average cost of $1.93 per share, for a total transaction of $96,500.00. Following the transaction, the chief executive officer owned 489,626 shares of the company’s stock, valued at $944,978.18. This represents a 11.37% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Over the last 90 days, insiders have bought 80,000 shares of company stock worth $157,900. 85.69% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. J. Derek Lewis & Associates Inc. acquired a new position in shares of OPAL Fuels during the fourth quarter valued at approximately $742,000. WINTON GROUP Ltd lifted its position in OPAL Fuels by 439.3% in the second quarter. WINTON GROUP Ltd now owns 67,780 shares of the company’s stock worth $149,000 after purchasing an additional 55,213 shares during the period. Renaissance Technologies LLC acquired a new stake in OPAL Fuels in the first quarter worth approximately $29,000. Bank of New York Mellon Corp boosted its stake in OPAL Fuels by 18.6% during the 1st quarter. Bank of New York Mellon Corp now owns 41,739 shares of the company’s stock valued at $105,000 after purchasing an additional 6,548 shares in the last quarter. Finally, Inspire Investing LLC bought a new position in OPAL Fuels during the 1st quarter valued at $554,000. 12.16% of the stock is currently owned by institutional investors.

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.