OPAL Fuels Inc. (NASDAQ:OPAL) Short Interest Update

by · The Cerbat Gem

OPAL Fuels Inc. (NASDAQ:OPAL – Get Free Report) saw a significant drop in short interest in December. As of December 15th, there was short interest totaling 1,755,248 shares, a drop of 19.4% from the November 30th total of 2,178,851 shares. Approximately 6.5% of the shares of the company are short sold. Based on an average trading volume of 160,053 shares, the days-to-cover ratio is currently 11.0 days. Based on an average trading volume of 160,053 shares, the days-to-cover ratio is currently 11.0 days. Approximately 6.5% of the shares of the company are short sold.

OPAL Fuels Price Performance

NASDAQ OPAL traded down $0.28 on Wednesday, hitting $2.36. The company had a trading volume of 235,132 shares, compared to its average volume of 366,720. The company has a debt-to-equity ratio of 32.18, a current ratio of 1.47 and a quick ratio of 1.33. The company’s fifty day moving average price is $2.38 and its 200-day moving average price is $2.43. The company has a market capitalization of $409.22 million, a PE ratio of 118.06 and a beta of 1.07. OPAL Fuels has a 12-month low of $1.26 and a 12-month high of $4.08.

OPAL Fuels (NASDAQ:OPAL – Get Free Report) last announced its earnings results on Friday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.09). The company had revenue of $83.36 million during the quarter, compared to analyst estimates of $98.03 million. OPAL Fuels had a negative net margin of 1.02% and a negative return on equity of 1.84%. As a group, analysts predict that OPAL Fuels will post 0.8 earnings per share for the current year.

Hedge Funds Weigh In On OPAL Fuels

Several hedge funds and other institutional investors have recently made changes to their positions in OPAL. Invesco Ltd. boosted its stake in shares of OPAL Fuels by 125.5% in the third quarter. Invesco Ltd. now owns 2,937,645 shares of the company’s stock worth $6,463,000 after acquiring an additional 1,634,645 shares during the last quarter. SCS Capital Management LLC purchased a new position in OPAL Fuels in the 1st quarter valued at $683,000. 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 worth $1,233,000 after purchasing an additional 243,399 shares during the last quarter. Rockefeller Capital Management L.P. purchased a new stake in shares of OPAL Fuels during the second quarter worth $585,000. Finally, Inspire Investing LLC raised its position in shares of OPAL Fuels by 64.2% in the first quarter. Inspire Investing LLC now owns 195,048 shares of the company’s stock valued at $359,000 after buying an additional 76,267 shares during the last quarter. Hedge funds and other institutional investors own 12.16% of the company’s stock.

Wall Street Analyst Weigh In

OPAL has been the topic of a number of analyst reports. Wall Street Zen cut shares of OPAL Fuels from a “hold” rating to a “sell” rating in a research note on Sunday. Weiss Ratings restated a “sell (d)” rating on shares of OPAL Fuels in a research report on Monday. Finally, Zacks Research upgraded shares of OPAL Fuels from a “strong sell” rating to a “hold” rating in a research report on Monday, September 15th. Four analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, OPAL Fuels currently has a consensus rating of “Reduce” and an average target price of $2.81.

View Our Latest Report on OPAL Fuels

About OPAL Fuels

(Get Free Report)

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.

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