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OPAL Fuels Inc. (OPAL) Soars 12.7%: Is Further Upside Left in the Stock?
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OPAL Fuels Inc. (OPAL - Free Report) shares rallied 12.7% in the last trading session to close at $8. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 2.2% gain over the past four weeks.
OPAL Fuels recently signed a joint venture agreement, with South Jersey Industries, to develop, construct, own and operate renewable natural gas (RNG) facilities. This might have boosted confidence among the stock’s investors, thereby resulting in OPAL’s latest share price hike.
This company is expected to post quarterly earnings of $0.06 per share in its upcoming report, which represents a year-over-year change of +200%. Revenues are expected to be $67.16 million, up 0.9% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For OPAL Fuels Inc., the consensus EPS estimate for the quarter has been revised 46.2% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on OPAL going forward to see if this recent jump can turn into more strength down the road.
OPAL Fuels Inc. belongs to the Zacks Alternative Energy - Other industry. Another stock from the same industry, Gevo, Inc. (GEVO - Free Report) , closed the last trading session 0.8% lower at $1.21. Over the past month, GEVO has returned -6.9%.
For Gevo, Inc., the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.06. This represents a change of +68.4% from what the company reported a year ago. Gevo, Inc. currently has a Zacks Rank of #3 (Hold).
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OPAL Fuels Inc. (OPAL) Soars 12.7%: Is Further Upside Left in the Stock?
OPAL Fuels Inc. (OPAL - Free Report) shares rallied 12.7% in the last trading session to close at $8. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 2.2% gain over the past four weeks.
OPAL Fuels recently signed a joint venture agreement, with South Jersey Industries, to develop, construct, own and operate renewable natural gas (RNG) facilities. This might have boosted confidence among the stock’s investors, thereby resulting in OPAL’s latest share price hike.
This company is expected to post quarterly earnings of $0.06 per share in its upcoming report, which represents a year-over-year change of +200%. Revenues are expected to be $67.16 million, up 0.9% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For OPAL Fuels Inc., the consensus EPS estimate for the quarter has been revised 46.2% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on OPAL going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
OPAL Fuels Inc. belongs to the Zacks Alternative Energy - Other industry. Another stock from the same industry, Gevo, Inc. (GEVO - Free Report) , closed the last trading session 0.8% lower at $1.21. Over the past month, GEVO has returned -6.9%.
For Gevo, Inc., the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.06. This represents a change of +68.4% from what the company reported a year ago. Gevo, Inc. currently has a Zacks Rank of #3 (Hold).