Clean Energy Fuels (NASDAQ:CLNE) Stock Price Down 6%

Clean Energy Fuels Corp. (NASDAQ:CLNE) shares were down 6% during trading on Monday . The stock traded as low as $2.51 and last traded at $2.51. 702,842 shares were traded during trading, a decline of 58% from the average session volume of 1,660,608 shares. The stock had previously closed at $2.67.

Analyst Ratings Changes

A number of research firms have recently issued reports on CLNE. Raymond James dropped their target price on Clean Energy Fuels from $6.00 to $5.00 and set a “strong-buy” rating on the stock in a report on Wednesday, April 3rd. Piper Sandler reduced their target price on shares of Clean Energy Fuels from $7.00 to $4.00 and set an “overweight” rating for the company in a research note on Thursday, April 18th. StockNews.com raised shares of Clean Energy Fuels to a “sell” rating in a report on Monday, May 13th. Finally, Scotiabank lowered their price objective on Clean Energy Fuels from $6.00 to $5.00 and set a “sector outperform” rating on the stock in a report on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $5.60.

Clean Energy Fuels Trading Up 4.7 %

The business has a 50 day moving average of $2.63 and a 200 day moving average of $2.86. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.80 and a current ratio of 3.14.

Clean Energy Fuels (NASDAQ:CLNE) last posted its quarterly earnings data on Thursday, May 9th. The utilities provider reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.05. The business had revenue of $103.71 million during the quarter, compared to analyst estimates of $106.63 million. Clean Energy Fuels had a negative net margin of 19.98% and a negative return on equity of 11.09%. Equities analysts predict that Clean Energy Fuels Corp. will post -0.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Clean Energy Fuels

Several large investors have recently added to or reduced their stakes in CLNE. Sunbelt Securities Inc. lifted its holdings in shares of Clean Energy Fuels by 1,052.6% during the 3rd quarter. Sunbelt Securities Inc. now owns 10,950 shares of the utilities provider’s stock worth $42,000 after acquiring an additional 10,000 shares during the period. Assenagon Asset Management S.A. purchased a new position in shares of Clean Energy Fuels in the 4th quarter worth $1,566,000. Brown Advisory Inc. lifted its stake in shares of Clean Energy Fuels by 24.3% in the 4th quarter. Brown Advisory Inc. now owns 49,736 shares of the utilities provider’s stock valued at $190,000 after purchasing an additional 9,736 shares in the last quarter. BNP Paribas Financial Markets increased its position in Clean Energy Fuels by 271.6% during the 4th quarter. BNP Paribas Financial Markets now owns 145,256 shares of the utilities provider’s stock worth $556,000 after purchasing an additional 106,162 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Clean Energy Fuels by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,367,278 shares of the utilities provider’s stock valued at $5,237,000 after buying an additional 19,616 shares during the period. 49.94% of the stock is currently owned by hedge funds and other institutional investors.

Clean Energy Fuels Company Profile

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.