Clean Energy Fuels (NASDAQ:CLNE) Downgraded by StockNews.com to Sell

Clean Energy Fuels (NASDAQ:CLNE) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.

Separately, Scotiabank upped their price target on shares of Clean Energy Fuels from $5.00 to $6.00 and gave the stock a “sector outperform” rating in a report on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $5.38.

Clean Energy Fuels Trading Up 1.5 %

Shares of CLNE stock opened at $2.77 on Friday. The company’s fifty day simple moving average is $2.91 and its two-hundred day simple moving average is $2.85. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.06 and a quick ratio of 2.74. Clean Energy Fuels has a 1 year low of $2.17 and a 1 year high of $4.13. The stock has a market capitalization of $618.98 million, a price-to-earnings ratio of -8.94 and a beta of 2.14.

Clean Energy Fuels (NASDAQ:CLNE) last issued its earnings results on Wednesday, November 6th. The utilities provider reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.04. The business had revenue of $104.90 million for the quarter, compared to analysts’ expectations of $100.64 million. Clean Energy Fuels had a negative net margin of 17.32% and a negative return on equity of 7.59%. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.12) EPS. As a group, analysts anticipate that Clean Energy Fuels will post -0.33 earnings per share for the current year.

Institutional Trading of Clean Energy Fuels

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in shares of Clean Energy Fuels by 1.0% during the first quarter. Vanguard Group Inc. now owns 10,101,301 shares of the utilities provider’s stock worth $27,071,000 after purchasing an additional 100,271 shares during the period. Global Alpha Capital Management Ltd. increased its stake in shares of Clean Energy Fuels by 1.5% during the third quarter. Global Alpha Capital Management Ltd. now owns 7,145,976 shares of the utilities provider’s stock valued at $22,224,000 after purchasing an additional 102,400 shares in the last quarter. State Street Corp increased its stake in shares of Clean Energy Fuels by 0.5% during the third quarter. State Street Corp now owns 5,923,358 shares of the utilities provider’s stock valued at $18,422,000 after purchasing an additional 31,602 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Clean Energy Fuels by 3.1% during the third quarter. Geode Capital Management LLC now owns 4,203,217 shares of the utilities provider’s stock valued at $13,075,000 after purchasing an additional 126,760 shares in the last quarter. Finally, SIR Capital Management L.P. increased its stake in shares of Clean Energy Fuels by 9.8% during the second quarter. SIR Capital Management L.P. now owns 2,764,529 shares of the utilities provider’s stock valued at $7,381,000 after purchasing an additional 246,600 shares in the last quarter. 49.94% of the stock is currently owned by hedge funds and other institutional investors.

About Clean Energy Fuels

Clean Energy Fuels Corp. provides natural gas as alternative fuels for vehicle fleets and related fueling solutions in the United States and Canada. It supplies renewable natural gas (RNG), compressed natural gas (CNG), and liquefied natural gas (LNG) for medium and heavy-duty vehicles; and offers operation and maintenance services for public and private vehicle fleet customer stations.