Clean Energy Fuels (NASDAQ:CLNE) Stock Price Down 3.7% – Here’s What Happened

Shares of Clean Energy Fuels Corp. (NASDAQ:CLNE) traded down 3.7% during trading on Friday . The company traded as low as $2.87 and last traded at $2.88. 369,176 shares traded hands during trading, a decline of 77% from the average session volume of 1,581,338 shares. The stock had previously closed at $2.99.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CLNE. StockNews.com upgraded shares of Clean Energy Fuels to a “sell” rating in a research note on Wednesday, August 14th. Scotiabank boosted their price objective on Clean Energy Fuels from $5.00 to $6.00 and gave the company a “sector outperform” rating in a research note on Tuesday, September 3rd. One equities 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 stock. According to MarketBeat.com, Clean Energy Fuels has a consensus rating of “Moderate Buy” and an average price target of $5.38.

Clean Energy Fuels Trading Down 3.3 %

The stock has a market cap of $645.23 million, a P/E ratio of -8.26 and a beta of 2.12. The firm’s fifty day moving average price is $3.01 and its two-hundred day moving average price is $2.73. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.17 and a quick ratio of 2.82.

Clean Energy Fuels (NASDAQ:CLNE) last released its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.05. The firm had revenue of $97.95 million for the quarter, compared to analysts’ expectations of $106.45 million. Clean Energy Fuels had a negative return on equity of 8.75% and a negative net margin of 19.61%. The company’s revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.07) EPS. As a group, equities research analysts forecast that Clean Energy Fuels Corp. will post -0.34 EPS for the current year.

Hedge Funds Weigh In On Clean Energy Fuels

A number of institutional investors have recently made changes to their positions in the stock. Tidal Investments LLC bought a new stake in shares of Clean Energy Fuels during the 1st quarter worth $33,000. DRW Securities LLC purchased a new stake in Clean Energy Fuels during the second quarter valued at about $38,000. Algert Global LLC bought a new stake in Clean Energy Fuels during the second quarter worth about $45,000. Pinnacle Wealth Planning Services Inc. bought a new stake in Clean Energy Fuels during the first quarter worth about $52,000. Finally, Sei Investments Co. purchased a new position in shares of Clean Energy Fuels in the 2nd quarter worth about $74,000. Institutional investors own 49.94% of the company’s stock.

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.