Insider Buying: OPAL Fuels (NASDAQ:OPAL) Director Purchases 50,000 Shares of Stock

OPAL Fuels Inc. (NASDAQ:OPAL) Director Scott Mcdougald Sutton bought 50,000 shares of the business’s stock in a transaction on Thursday, June 11th. The stock was bought at an average price of $1.95 per share, for a total transaction of $97,500.00. Following the completion of the purchase, the director directly owned 50,000 shares of the company’s stock, valued at $97,500. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

OPAL Fuels Stock Performance

Shares of OPAL opened at $1.93 on Monday. The firm has a fifty day moving average of $2.24 and a 200-day moving average of $2.31. The company has a market cap of $334.66 million, a price-to-earnings ratio of 27.58 and a beta of 0.77. The company has a debt-to-equity ratio of 23.21, a quick ratio of 2.07 and a current ratio of 2.20. OPAL Fuels Inc. has a 1 year low of $1.65 and a 1 year high of $3.40.

OPAL Fuels (NASDAQ:OPAL) last released its quarterly earnings data on Saturday, May 9th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.16). The firm had revenue of $73.38 million during the quarter, compared to analyst estimates of $93.87 million. OPAL Fuels had a negative return on equity of 479.62% and a net margin of 1.33%. As a group, equities analysts anticipate that OPAL Fuels Inc. will post -0.2 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Invesco Ltd. increased its stake in shares of OPAL Fuels by 77.2% during the fourth quarter. Invesco Ltd. now owns 5,206,386 shares of the company’s stock valued at $12,261,000 after acquiring an additional 2,268,741 shares during the period. J. Derek Lewis & Associates Inc. bought a new position in OPAL Fuels during the 4th quarter valued at $742,000. Geode Capital Management LLC boosted its stake in 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 purchasing an additional 243,399 shares in the last quarter. Inspire Investing LLC acquired a new position in shares of OPAL Fuels during the 1st quarter valued at $554,000. Finally, Jane Street Group LLC bought a new stake in shares of OPAL Fuels in the 2nd quarter worth $107,000. 12.16% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

OPAL has been the subject of several analyst reports. Wall Street Zen upgraded OPAL Fuels from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 24th. Weiss Ratings cut OPAL Fuels from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, May 13th. Zacks Research upgraded OPAL Fuels from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 5th. Finally, The Goldman Sachs Group increased their price target on OPAL Fuels from $2.10 to $2.40 and gave the stock a “sell” rating in a research note on Tuesday, March 17th. Three equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $2.72.

OPAL Fuels Company Profile

OPAL Fuels (NASDAQ: OPAL) is a publicly traded company headquartered in San Diego, California, specializing in the production, distribution and dispensing of renewable natural gas (RNG) for heavy-duty transportation. The company operates a network of RNG fueling stations across California, offering fleets of trucks, transit buses and logistics providers a low-carbon alternative to conventional diesel without requiring significant changes to existing vehicle technology or fueling infrastructure.

OPAL Fuels sources organic byproducts from dairy farms, landfills and food-processing facilities, converting methane-rich biogas into pipeline-quality RNG through a series of anaerobic digestion and gas-upgrading processes.