Clean Energy Fuels (NASDAQ:CLNE) Raised to “Hold” at StockNews.com

StockNews.com upgraded shares of Clean Energy Fuels (NASDAQ:CLNE) from a sell rating to a hold rating in a research note issued to investors on Tuesday.

Separately, 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 report on Tuesday, September 3rd. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Clean Energy Fuels has an average rating of “Buy” and a consensus price target of $5.38.

Clean Energy Fuels Stock Performance

Shares of NASDAQ CLNE opened at $2.55 on Tuesday. The company has a current ratio of 3.06, a quick ratio of 2.74 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $569.82 million, a price-to-earnings ratio of -8.23 and a beta of 2.14. Clean Energy Fuels has a 12-month low of $2.17 and a 12-month high of $4.13. The firm has a 50 day moving average of $2.85 and a 200 day moving average of $2.84.

Clean Energy Fuels (NASDAQ:CLNE) last released its earnings results on Wednesday, November 6th. The utilities provider reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.04. The company had revenue of $104.90 million during the quarter, compared to analyst estimates 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 firm’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.12) EPS. On average, research analysts anticipate that Clean Energy Fuels will post -0.33 earnings per share for the current year.

Institutional Trading of Clean Energy Fuels

Hedge funds have recently modified their holdings of the company. Eastern Bank bought a new stake in Clean Energy Fuels in the third quarter worth $31,000. Point72 DIFC Ltd purchased a new position in shares of Clean Energy Fuels in the 3rd quarter worth $41,000. Zacks Investment Management bought a new stake in shares of Clean Energy Fuels in the 3rd quarter worth about $42,000. DRW Securities LLC purchased a new stake in shares of Clean Energy Fuels during the 2nd quarter valued at about $38,000. Finally, Algert Global LLC bought a new position in shares of Clean Energy Fuels in the 2nd quarter valued at about $45,000. 49.94% of the stock is 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.