OPAL Fuels (NASDAQ:OPAL) Cut to “Sector Perform” at Scotiabank

Scotiabank lowered shares of OPAL Fuels (NASDAQ:OPAL) from a sector outperform rating to a sector perform rating in a research note issued to investors on Tuesday, MarketBeat reports. They currently have $5.00 price objective on the stock, down from their prior price objective of $8.00.

OPAL has been the topic of several other research reports. The Goldman Sachs Group decreased their price objective on OPAL Fuels from $4.50 to $3.90 and set a sell rating on the stock in a report on Friday, August 9th. B. Riley reaffirmed a buy rating and issued a $10.00 target price on shares of OPAL Fuels in a research note on Friday, June 7th. Finally, UBS Group lowered their price target on shares of OPAL Fuels from $8.00 to $7.50 and set a buy rating for the company in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $7.90.

OPAL Fuels Stock Performance

NASDAQ OPAL opened at $3.51 on Tuesday. The company has a market capitalization of $605.41 million, a P/E ratio of 4.68 and a beta of 0.50. OPAL Fuels has a 52-week low of $3.41 and a 52-week high of $8.46. The company has a fifty day moving average of $3.86 and a 200-day moving average of $4.44.

OPAL Fuels (NASDAQ:OPAL) last issued its earnings results on Wednesday, August 7th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.01. The business had revenue of $70.95 million during the quarter, compared to analyst estimates of $80.68 million. OPAL Fuels had a negative return on equity of 2.14% and a net margin of 2.50%. As a group, analysts forecast that OPAL Fuels will post 0.57 EPS for the current fiscal year.

Institutional Trading of OPAL Fuels

Institutional investors have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC bought a new position in shares of OPAL Fuels in the 2nd quarter worth approximately $93,000. Levin Capital Strategies L.P. bought a new position in OPAL Fuels in the 1st quarter worth $136,000. Yarra Square Partners LP grew its holdings in OPAL Fuels by 18.9% during the fourth quarter. Yarra Square Partners LP now owns 313,900 shares of the company’s stock valued at $1,733,000 after purchasing an additional 50,000 shares during the period. Vanguard Group Inc. increased its position in OPAL Fuels by 5.4% in the first quarter. Vanguard Group Inc. now owns 1,674,624 shares of the company’s stock worth $8,407,000 after buying an additional 86,531 shares in the last quarter. Finally, Marshall Wace LLP bought a new position in shares of OPAL Fuels in the second quarter worth about $389,000. 12.16% of the stock is currently owned by hedge funds and other institutional investors.

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.