OPAL Fuels Inc. (NASDAQ:OPAL – Get Rating) gapped up prior to trading on Wednesday . The stock had previously closed at $6.22, but opened at $6.42. OPAL Fuels shares last traded at $6.22, with a volume of 572 shares trading hands.
Wall Street Analyst Weigh In
Several equities analysts have issued reports on OPAL shares. Janney Montgomery Scott assumed coverage on shares of OPAL Fuels in a research report on Friday, May 26th. They issued a “buy” rating and a $13.00 price target for the company. B. Riley reissued a “buy” rating and set a $14.00 target price on shares of OPAL Fuels in a research note on Friday, March 24th. Finally, Piper Sandler dropped their price objective on shares of OPAL Fuels from $13.00 to $12.00 in a research note on Tuesday. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $13.00.
OPAL Fuels Stock Performance
The stock’s 50-day simple moving average is $6.93 and its 200-day simple moving average is $7.25. The firm has a market capitalization of $1.06 billion, a PE ratio of 44.21 and a beta of 0.52.
Insider Activity
In other news, Director Marco F. Gatti sold 154,471 shares of the business’s stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $6.50, for a total transaction of $1,004,061.50. Following the sale, the director now owns 342,381 shares in the company, valued at approximately $2,225,476.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 84.78% of the company’s stock.
Institutional Trading of OPAL Fuels
A number of hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. bought a new position in OPAL Fuels during the 1st quarter valued at about $578,000. Jane Street Group LLC increased its position in shares of OPAL Fuels by 114.9% during the 1st quarter. Jane Street Group LLC now owns 30,265 shares of the company’s stock valued at $211,000 after purchasing an additional 16,182 shares during the last quarter. State Street Corp purchased a new stake in shares of OPAL Fuels during the 1st quarter valued at about $72,000. First Trust Advisors LP purchased a new stake in shares of OPAL Fuels during the 1st quarter valued at about $865,000. Finally, Geode Capital Management LLC increased its position in shares of OPAL Fuels by 41.8% during the 1st quarter. Geode Capital Management LLC now owns 53,397 shares of the company’s stock valued at $372,000 after purchasing an additional 15,739 shares during the last quarter.
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.
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