OPAL Fuels (NASDAQ:OPAL) Sees Large Volume Increase – Here’s What Happened

OPAL Fuels Inc. (NASDAQ:OPAL) shares saw unusually-strong trading volume on Tuesday . Approximately 192,908 shares traded hands during mid-day trading, an increase of 55% from the previous session’s volume of 124,226 shares.The stock last traded at $3.27 and had previously closed at $2.72.

Analysts Set New Price Targets

OPAL has been the subject of several research analyst reports. Scotiabank dropped their price target on shares of OPAL Fuels from $5.00 to $3.50 and set a “sector perform” rating for the company in a research report on Friday, April 11th. The Goldman Sachs Group upped their price objective on OPAL Fuels from $1.75 to $2.00 and gave the stock a “sell” rating in a report on Monday, May 12th. Finally, UBS Group reduced their target price on OPAL Fuels from $7.00 to $3.50 and set a “buy” rating on the stock in a report on Monday, March 17th.

OPAL Fuels Stock Up 15.6%

The stock has a market cap of $543.37 million, a PE ratio of 17.31 and a beta of 0.69. The company’s fifty day moving average is $1.84 and its 200 day moving average is $2.69.

OPAL Fuels (NASDAQ:OPAL) last issued its earnings results on Thursday, May 8th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.63). OPAL Fuels had a net margin of 3.30% and a negative return on equity of 4.08%. The business had revenue of $85.41 million during the quarter, compared to analysts’ expectations of $85.08 million. Equities analysts expect that OPAL Fuels Inc. will post 0.8 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Squarepoint Ops LLC grew its stake in shares of OPAL Fuels by 20.2% in the fourth quarter. Squarepoint Ops LLC now owns 31,983 shares of the company’s stock valued at $108,000 after buying an additional 5,377 shares in the last quarter. Levin Capital Strategies L.P. boosted its holdings in OPAL Fuels by 250.0% in the 4th quarter. Levin Capital Strategies L.P. now owns 35,000 shares of the company’s stock worth $119,000 after acquiring an additional 25,000 shares during the period. Jane Street Group LLC acquired a new stake in OPAL Fuels in the fourth quarter valued at approximately $238,000. Goldman Sachs Group Inc. grew its position in OPAL Fuels by 16.2% in the first quarter. Goldman Sachs Group Inc. now owns 203,006 shares of the company’s stock valued at $374,000 after acquiring an additional 28,374 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of OPAL Fuels during the fourth quarter valued at approximately $389,000. 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.