OPAL Fuels (NASDAQ:OPAL) Trading 3.3% Higher – Here’s What Happened

OPAL Fuels Inc. (NASDAQ:OPAL) shares shot up 3.3% on Tuesday . The company traded as high as $3.41 and last traded at $3.40. 9,170 shares were traded during trading, a decline of 89% from the average session volume of 84,666 shares. The stock had previously closed at $3.29.

Analyst Ratings Changes

Separately, Scotiabank downgraded OPAL Fuels from a “sector outperform” rating to a “sector perform” rating and dropped their price target for the company from $8.00 to $5.00 in a research note on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, OPAL Fuels currently has a consensus rating of “Moderate Buy” and a consensus price target of $7.90.

OPAL Fuels Stock Down 5.1 %

The firm has a market capitalization of $546.14 million, a PE ratio of 17.56 and a beta of 0.51. The stock has a 50-day moving average price of $3.74 and a 200 day moving average price of $3.84.

Hedge Funds Weigh In On OPAL Fuels

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its position in OPAL Fuels by 19.1% in the 3rd quarter. Geode Capital Management LLC now owns 257,549 shares of the company’s stock valued at $940,000 after acquiring an additional 41,250 shares in the last quarter. Yaupon Capital Management LP increased its stake in shares of OPAL Fuels by 17.0% during the third quarter. Yaupon Capital Management LP now owns 700,054 shares of the company’s stock worth $2,555,000 after buying an additional 101,955 shares during the period. Janus Henderson Group PLC grew its holdings in OPAL Fuels by 83.5% during the 3rd quarter. Janus Henderson Group PLC now owns 21,727 shares of the company’s stock worth $79,000 after acquiring an additional 9,885 shares in the last quarter. GSA Capital Partners LLP raised its holdings in shares of OPAL Fuels by 69.3% in the 3rd quarter. GSA Capital Partners LLP now owns 96,056 shares of the company’s stock valued at $351,000 after purchasing an additional 39,325 shares in the last quarter. Finally, Inspire Investing LLC acquired a new stake in OPAL Fuels in the third quarter valued at $430,000. Institutional investors and hedge funds own 12.16% of the company’s stock.

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.