OPAL Fuels (NASDAQ:OPAL) Trading Up 3.6% – Time to Buy?

Shares of OPAL Fuels Inc. (NASDAQ:OPAL) traded up 3.6% on Monday . The stock traded as high as $3.43 and last traded at $3.43. 84,585 shares were traded during mid-day trading, a decline of 4% from the average session volume of 87,685 shares. The stock had previously closed at $3.31.

Analysts Set New Price Targets

Separately, Scotiabank lowered shares of OPAL Fuels from a “sector outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $8.00 to $5.00 in a research note on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $7.90.

OPAL Fuels Price Performance

The stock’s 50-day moving average is $3.64 and its 200 day moving average is $3.76. The company has a market cap of $610.09 million, a PE ratio of 19.61 and a beta of 0.51.

Institutional Trading of OPAL Fuels

Institutional investors have recently made changes to their positions in the business. SIR Capital Management L.P. raised its stake in OPAL Fuels by 76.3% in the second quarter. SIR Capital Management L.P. now owns 388,049 shares of the company’s stock valued at $1,587,000 after buying an additional 167,940 shares during the last quarter. Inspire Investing LLC acquired a new stake in OPAL Fuels in the 3rd quarter worth approximately $430,000. Yaupon Capital Management LP grew its position in OPAL Fuels by 17.0% during the 3rd quarter. Yaupon Capital Management LP now owns 700,054 shares of the company’s stock worth $2,555,000 after purchasing an additional 101,955 shares during the last quarter. Marshall Wace LLP acquired a new position in OPAL Fuels during the 2nd quarter valued at approximately $389,000. Finally, Geode Capital Management LLC raised its holdings in shares of OPAL Fuels by 19.1% in the third quarter. Geode Capital Management LLC now owns 257,549 shares of the company’s stock worth $940,000 after buying an additional 41,250 shares during the last quarter. Institutional investors and hedge funds own 12.16% of the company’s stock.

About OPAL Fuels

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.