OPAL Fuels Inc. (NASDAQ:OPAL) Receives $7.90 Average PT from Brokerages

Shares of OPAL Fuels Inc. (NASDAQ:OPAL) have been given an average recommendation of “Moderate Buy” by the six ratings firms that are covering the stock, MarketBeat.com reports. One equities research 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. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $7.90.

Several brokerages have recently commented on OPAL. The Goldman Sachs Group reduced their price objective on OPAL Fuels from $4.50 to $3.90 and set a “sell” rating on the stock in a research report on Friday, August 9th. UBS Group reduced their price objective on OPAL Fuels from $8.00 to $7.50 and set a “buy” rating on the stock in a research report on Friday, August 9th. Finally, Scotiabank lowered OPAL Fuels from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the company from $8.00 to $5.00 in a research report on Tuesday, September 3rd.

Hedge Funds Weigh In On OPAL Fuels

Several institutional investors and hedge funds have recently bought and sold shares of OPAL. Vanguard Group Inc. grew its position in OPAL Fuels by 5.4% during the 1st quarter. Vanguard Group Inc. now owns 1,674,624 shares of the company’s stock worth $8,407,000 after acquiring an additional 86,531 shares during the last quarter. Levin Capital Strategies L.P. bought a new position in OPAL Fuels during the 1st quarter worth approximately $136,000. SIR Capital Management L.P. grew its position in OPAL Fuels by 76.3% during the 2nd quarter. SIR Capital Management L.P. now owns 388,049 shares of the company’s stock worth $1,587,000 after acquiring an additional 167,940 shares during the last quarter. Marshall Wace LLP purchased a new stake in OPAL Fuels in the 2nd quarter worth approximately $389,000. Finally, Sanctuary Advisors LLC purchased a new stake in OPAL Fuels in the 2nd quarter worth approximately $93,000. 12.16% of the stock is currently owned by institutional investors.

OPAL Fuels Stock Up 5.4 %

Shares of NASDAQ OPAL opened at $3.87 on Monday. The firm has a market capitalization of $668.85 million, a P/E ratio of 21.50 and a beta of 0.48. The stock’s 50-day simple moving average is $3.72 and its two-hundred day simple moving average is $3.97. OPAL Fuels has a twelve month low of $3.04 and a twelve month high of $6.08.

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.