SCS Capital Management LLC Takes $683,000 Position in OPAL Fuels Inc. $OPAL

SCS Capital Management LLC purchased a new position in shares of OPAL Fuels Inc. (NASDAQ:OPAL) in the 1st quarter, HoldingsChannel reports. The institutional investor purchased 370,925 shares of the company’s stock, valued at approximately $683,000.

Several other hedge funds have also recently modified their holdings of the stock. Squarepoint Ops LLC lifted its holdings in shares of OPAL Fuels by 20.2% during the fourth quarter. Squarepoint Ops LLC now owns 31,983 shares of the company’s stock worth $108,000 after purchasing an additional 5,377 shares during the period. Yaupon Capital Management LP lifted its holdings in shares of OPAL Fuels by 1.6% during the first quarter. Yaupon Capital Management LP now owns 711,508 shares of the company’s stock worth $1,309,000 after purchasing an additional 11,454 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of OPAL Fuels by 16.2% during the first quarter. Goldman Sachs Group Inc. now owns 203,006 shares of the company’s stock worth $374,000 after purchasing an additional 28,374 shares during the period. Jane Street Group LLC acquired a new stake in shares of OPAL Fuels during the fourth quarter worth $238,000. Finally, Invesco Ltd. lifted its holdings in shares of OPAL Fuels by 40.0% during the first quarter. Invesco Ltd. now owns 2,024,745 shares of the company’s stock worth $3,726,000 after purchasing an additional 578,209 shares during the period. 12.16% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Johnson Rice downgraded OPAL Fuels from a “strong-buy” rating to a “hold” rating and cut their target price for the stock from $4.00 to $3.00 in a research note on Tuesday, July 22nd. Wall Street Zen lowered OPAL Fuels from a “hold” rating to a “strong sell” rating in a report on Saturday, August 16th. Finally, UBS Group lowered OPAL Fuels from a “strong-buy” rating to a “hold” rating and dropped their price objective for the stock from $3.50 to $2.75 in a report on Wednesday, July 23rd. Three equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $2.81.

Insider Buying and Selling at OPAL Fuels

In other news, CEO Adam Comora acquired 21,744 shares of OPAL Fuels stock in a transaction that occurred on Friday, August 15th. The stock was purchased at an average cost of $2.30 per share, with a total value of $50,011.20. Following the completion of the acquisition, the chief executive officer owned 236,261 shares in the company, valued at $543,400.30. This trade represents a 10.14% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Nadeem Nisar acquired 10,000 shares of OPAL Fuels stock in a transaction that occurred on Friday, June 13th. The shares were purchased at an average cost of $3.17 per share, with a total value of $31,700.00. Following the completion of the acquisition, the director owned 141,712 shares of the company’s stock, valued at $449,227.04. The trade was a 7.59% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 50,100 shares of company stock valued at $124,375. 84.57% of the stock is currently owned by insiders.

OPAL Fuels Trading Up 3.3%

Shares of OPAL stock opened at $2.19 on Thursday. The business’s fifty day moving average price is $2.38 and its 200 day moving average price is $2.32. OPAL Fuels Inc. has a 1-year low of $1.26 and a 1-year high of $4.11. The firm has a market capitalization of $379.75 million, a PE ratio of 36.50 and a beta of 1.08. The company has a debt-to-equity ratio of 5.06, a current ratio of 1.26 and a quick ratio of 1.12.

OPAL Fuels (NASDAQ:OPAL) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.10). The firm had revenue of $80.46 million for the quarter, compared to analyst estimates of $88.75 million. OPAL Fuels had a negative return on equity of 1.84% and a negative net margin of 0.74%. As a group, sell-side analysts forecast that OPAL Fuels Inc. will post 0.8 EPS for the current fiscal year.

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.