Clean Energy Fuels (NASDAQ:CLNE) Shares Gap Down – Should You Sell?

Clean Energy Fuels Corp. (NASDAQ:CLNE)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $3.02, but opened at $2.85. Clean Energy Fuels shares last traded at $2.88, with a volume of 444,507 shares.

Analyst Upgrades and Downgrades

CLNE has been the subject of a number of research analyst reports. StockNews.com raised Clean Energy Fuels from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Scotiabank increased their price target 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 equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $5.38.

Clean Energy Fuels Trading Down 2.4 %

The firm has a fifty day simple moving average of $2.93 and a two-hundred day simple moving average of $2.84. The firm has a market capitalization of $627.92 million, a P/E ratio of -9.29 and a beta of 2.14. 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 (NASDAQ:CLNE) last announced its quarterly earnings data on Wednesday, November 6th. The utilities provider reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.04. Clean Energy Fuels had a negative return on equity of 7.59% and a negative net margin of 17.32%. The business had revenue of $104.90 million during the quarter, compared to analyst estimates of $100.64 million. During the same period in the prior year, the company earned ($0.12) earnings per share. Clean Energy Fuels’s revenue was up 9.7% compared to the same quarter last year. On average, equities research analysts anticipate that Clean Energy Fuels Corp. will post -0.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Clean Energy Fuels

A number of large investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company boosted its holdings in shares of Clean Energy Fuels by 10.5% in the second quarter. The Manufacturers Life Insurance Company now owns 69,853 shares of the utilities provider’s stock worth $187,000 after acquiring an additional 6,637 shares during the period. FMR LLC raised its position in shares of Clean Energy Fuels by 14.8% in the third quarter. FMR LLC now owns 53,546 shares of the utilities provider’s stock worth $167,000 after buying an additional 6,884 shares in the last quarter. Rhumbline Advisers raised its position in shares of Clean Energy Fuels by 2.4% in the second quarter. Rhumbline Advisers now owns 292,747 shares of the utilities provider’s stock worth $782,000 after buying an additional 6,989 shares in the last quarter. Eastern Bank purchased a new stake in shares of Clean Energy Fuels in the third quarter worth $31,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Clean Energy Fuels by 21.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 65,841 shares of the utilities provider’s stock worth $205,000 after buying an additional 11,534 shares in the last quarter. 49.94% of the stock is owned by 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.