Raymond James Reaffirms Strong-Buy Rating for Clean Energy Fuels (NASDAQ:CLNE)

Clean Energy Fuels (NASDAQ:CLNE)‘s stock had its “strong-buy” rating reiterated by equities research analysts at Raymond James in a research report issued on Tuesday,Benzinga reports. They currently have a $4.00 price target on the utilities provider’s stock, down from their prior price target of $5.00. Raymond James’ price objective indicates a potential upside of 109.97% from the stock’s current price.

Separately, StockNews.com raised shares of Clean Energy Fuels from a “sell” rating to a “hold” rating in a report on Tuesday, February 4th.

Clean Energy Fuels Stock Performance

Shares of CLNE stock traded down $0.81 during mid-day trading on Tuesday, reaching $1.91. The stock had a trading volume of 6,197,833 shares, compared to its average volume of 2,777,585. Clean Energy Fuels has a 1-year low of $1.82 and a 1-year high of $3.67. The firm has a market cap of $425.69 million, a price-to-earnings ratio of -6.14 and a beta of 2.18. 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 business’s fifty day moving average is $2.94 and its 200-day moving average is $2.95.

Clean Energy Fuels (NASDAQ:CLNE) last posted its quarterly earnings results on Monday, February 24th. The utilities provider reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.04. The company had revenue of $109.33 million during the quarter, compared to analyst estimates of $102.60 million. Clean Energy Fuels had a negative net margin of 17.32% and a negative return on equity of 7.59%. During the same period last year, the firm posted $0.01 EPS. On average, research analysts forecast that Clean Energy Fuels will post -0.33 earnings per share for the current year.

Institutional Trading of Clean Energy Fuels

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Barclays PLC grew its position in shares of Clean Energy Fuels by 252.1% during the 3rd quarter. Barclays PLC now owns 266,104 shares of the utilities provider’s stock valued at $828,000 after acquiring an additional 190,520 shares during the period. JPMorgan Chase & Co. grew its holdings in Clean Energy Fuels by 309.5% in the third quarter. JPMorgan Chase & Co. now owns 730,218 shares of the utilities provider’s stock valued at $2,271,000 after purchasing an additional 551,896 shares during the period. IMC Chicago LLC increased its position in shares of Clean Energy Fuels by 7.4% in the fourth quarter. IMC Chicago LLC now owns 131,122 shares of the utilities provider’s stock valued at $329,000 after buying an additional 9,021 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of Clean Energy Fuels by 167.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 37,224 shares of the utilities provider’s stock valued at $116,000 after buying an additional 23,301 shares in the last quarter. Finally, State Street Corp grew its stake in Clean Energy Fuels by 0.5% in the 3rd quarter. State Street Corp now owns 5,923,358 shares of the utilities provider’s stock valued at $18,422,000 after acquiring an additional 31,602 shares during the period. Institutional investors and hedge funds 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.