Ares Management LLC recently announced the acquisition of new stake in OPAL Fuels Inc. (NASDAQ:OPAL). This fresh investment now brings its stake to 10.56% valued currently at $22.27 million. In addition, Electron Capital Partners LLC raised its holdings by 1.8 million to 1.8 million shares. And Meteora Capital LLC has lifted its position by 1,545.82% or 1.56 million shares – to 1.66 million shares.
With over 0.12 million OPAL Fuels Inc. (OPAL) shares trading Monday and a closing price of $6.89 on the day, the dollar volume was approximately $0.84 million. The shares have shown a negative half year performance of -11.55% and its price on 01/23/23 lost nearly -3.64%. Currently, there are 38.90M common shares owned by the public and among those 20.65M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 5 analysts who have offered their price forecasts for OPAL have a consensus price objective of $14.20. The analysts have set the share’s price value over the next 12 months at a high of $21.00 and a low of $10.00. The average price target is 47.0% above its recent price level and an upside to the estimated low will see the stock gain 31.1% over that period. But an upside of 67.19% will see the stock hit the forecast high price target while median target price for the stock is $13.00.
Insiders at the company have transacted a total of 19 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 18 of these insider trades were purchases, accounting for 11,669,905 shares. Insider sales of the common stock occurred on 1 occasions, with total insider shares sold totaling 2,000,000 shares.
The top 3 mutual fund holders in OPAL Fuels Inc. are Lumyna – MW TOPS UCITS Fund, Vanguard Small Cap Index Fund, and Picton Mahoney Fortified Arbitrag. Lumyna – MW TOPS UCITS Fund owns 0.13 million shares of the company’s stock, all valued at over $0.93 million. The company bought an additional 0.13 million shares recently to bring their total holdings to about 0.44% of the shares outstanding. Vanguard Small Cap Index Fund bought 1152.0 shares to see its total holdings expand to 97574.0 shares valued at over $0.71 million and representing 0.34% of the shares outstanding. Picton Mahoney Fortified Arbitrag now owns shares totaling to 0.28% of the shares outstanding.
Shares of OPAL Fuels Inc. (NASDAQ: OPAL) opened at $7.20, up $0.05 from a prior closing price of $7.15. However, the script later moved the day high at 7.20, down -3.64%. The company’s stock has a 5-day price change of 2.68% and -24.37% over the past three months. OPAL shares are trading -5.36% year to date (YTD), with the 12-month market performance down to -30.19% lower. It has a 12-month low price of $5.82 and touched a high of $12.35 over the same period. OPAL has an average intraday trading volume of 84.77K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -1.62%, -9.07%, and -24.09% respectively.
Institutional ownership of OPAL Fuels Inc. (NASDAQ: OPAL) shares accounts for 72.80% of the company’s 38.90M shares outstanding. Mutual fund holders own 28.90%, while other institutional holders and individual stakeholders account for 36.32% and 2.45% respectively.
It has a market capitalization of $1.17B. The stock’s trailing 12-month PE ratio is 68.90, while the earnings-per-share (ttm) stands at $0.10. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.51% over the week and 6.05% over the month.
Analysts forecast that OPAL Fuels Inc. (OPAL) will achieve an EPS of $0.2 for the current quarter, $0.26 for the next quarter and $1.76 for 2023. The lowest estimate earnings-per-share for the quarter is $0.05 while analysts give the company a high EPS estimate of $0.35.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 5 brokerage firm advisors rate OPAL Fuels Inc. (OPAL) as a “Strong Buy” at a consensus score of 1.60. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 0 of the 5 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the OPAL, a number of firms have released research notes about the stock. B. Riley Securities stated their Buy rating for the stock in a research note on December 15, 2022, with the firm’s price target at $14. Johnson Rice coverage for the OPAL Fuels Inc. (OPAL) stock in a research note released on December 14, 2022 offered a Buy rating with a price target of $13.
