OPAL Fuels Inc. (NASDAQ:OPAL) Sees Large Growth in Short Interest

OPAL Fuels Inc. (NASDAQ:OPAL) was the recipient of a large growth in short interest during the month of September. As of September 30th, there was short interest totaling 2,150,000 shares, a growth of 42.4% from the September 15th total of 1,510,000 shares. Based on an average daily volume of 210,700 shares, the short-interest ratio is presently 10.2 days. Approximately 12.3% of the shares of the stock are sold short. Approximately 12.3% of the shares of the stock are sold short. Based on an average daily volume of 210,700 shares, the short-interest ratio is presently 10.2 days.

OPAL Fuels Stock Up 1.1%

Shares of NASDAQ OPAL opened at $2.70 on Friday. OPAL Fuels has a 52-week low of $1.26 and a 52-week high of $4.08. The firm has a fifty day moving average of $2.37 and a 200-day moving average of $2.39. The stock has a market capitalization of $468.18 million, a PE ratio of 45.00 and a beta of 1.06. The company has a quick ratio of 1.12, a current ratio of 1.26 and a debt-to-equity ratio of 5.06.

OPAL Fuels (NASDAQ:OPAL) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.10). The company had revenue of $80.46 million for the quarter, compared to analysts’ expectations of $88.75 million. OPAL Fuels had a negative net margin of 0.74% and a negative return on equity of 1.84%. On average, analysts anticipate that OPAL Fuels will post 0.8 EPS for the current year.

Insider Activity

In related news, CEO Adam Comora acquired 21,744 shares of the business’s stock in a transaction that occurred on Friday, August 15th. The stock was purchased at an average cost of $2.30 per share, for a total transaction of $50,011.20. Following the transaction, the chief executive officer directly owned 236,261 shares of the company’s stock, valued at approximately $543,400.30. This trade represents a 10.14% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 84.57% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On OPAL Fuels

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Invesco Ltd. lifted its holdings in shares of OPAL Fuels by 40.0% during the 1st quarter. Invesco Ltd. now owns 2,024,745 shares of the company’s stock valued at $3,726,000 after acquiring an additional 578,209 shares in the last quarter. Yaupon Capital Management LP lifted its holdings in shares of OPAL Fuels by 1.6% during the 1st quarter. Yaupon Capital Management LP now owns 711,508 shares of the company’s stock valued at $1,309,000 after acquiring an additional 11,454 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of OPAL Fuels by 91.5% during the 2nd quarter. Geode Capital Management LLC now owns 509,294 shares of the company’s stock valued at $1,233,000 after acquiring an additional 243,399 shares in the last quarter. SCS Capital Management LLC acquired a new position in shares of OPAL Fuels during the 1st quarter valued at $683,000. Finally, Rockefeller Capital Management L.P. acquired a new position in shares of OPAL Fuels during the 2nd quarter valued at $585,000. Institutional investors and hedge funds own 12.16% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on OPAL. Johnson Rice cut shares of OPAL Fuels from a “strong-buy” rating to a “hold” rating and lowered their target price for the stock from $4.00 to $3.00 in a research note on Tuesday, July 22nd. Wall Street Zen cut shares of OPAL Fuels from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 16th. UBS Group cut shares of OPAL Fuels from a “strong-buy” rating to a “hold” rating and lowered their target price for the stock from $3.50 to $2.75 in a research note on Wednesday, July 23rd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of OPAL Fuels in a research note on Wednesday, October 8th. Finally, Zacks Research raised shares of OPAL Fuels from a “strong sell” rating to a “hold” rating in a research note on Monday, September 15th. Four equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $2.81.

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.