Clean Energy Fuels (NASDAQ:CLNE) Lowered to Sell Rating by StockNews.com

StockNews.com lowered shares of Clean Energy Fuels (NASDAQ:CLNE) from a hold rating to a sell rating in a report released on Wednesday.

Separately, Raymond James reaffirmed a “strong-buy” rating and set a $4.00 price target (down from $5.00) on shares of Clean Energy Fuels in a research note on Tuesday.

Clean Energy Fuels Trading Down 4.2 %

NASDAQ:CLNE opened at $1.94 on Wednesday. The stock has a market cap of $432.39 million, a price-to-earnings ratio of -6.24 and a beta of 2.18. The business has a fifty day moving average of $2.92 and a 200-day moving average of $2.94. Clean Energy Fuels has a 1 year low of $1.81 and a 1 year high of $3.67. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.74 and a current ratio of 3.06.

Clean Energy Fuels (NASDAQ:CLNE) last released its quarterly earnings results on Monday, February 24th. The utilities provider reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.04. The company had revenue of $109.33 million for the quarter, compared to the consensus estimate 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 in the previous year, the firm earned $0.01 EPS. Equities analysts predict that Clean Energy Fuels will post -0.33 earnings per share for the current year.

Insider Activity

In related news, CFO Robert M. Vreeland purchased 15,000 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were bought at an average price of $1.94 per share, with a total value of $29,100.00. Following the completion of the acquisition, the chief financial officer now owns 458,800 shares of the company’s stock, valued at approximately $890,072. This represents a 3.38 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Clean Energy Fuels

A number of hedge funds have recently modified their holdings of CLNE. Coppell Advisory Solutions LLC boosted its position in shares of Clean Energy Fuels by 1,635.8% in the 4th quarter. Coppell Advisory Solutions LLC now owns 734,640 shares of the utilities provider’s stock valued at $1,829,000 after purchasing an additional 692,318 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Clean Energy Fuels by 309.5% in the third quarter. JPMorgan Chase & Co. now owns 730,218 shares of the utilities provider’s stock worth $2,271,000 after buying an additional 551,896 shares during the period. D. E. Shaw & Co. Inc. boosted its holdings in shares of Clean Energy Fuels by 56.9% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,241,708 shares of the utilities provider’s stock worth $3,117,000 after buying an additional 450,143 shares during the period. Tudor Investment Corp ET AL purchased a new position in shares of Clean Energy Fuels in the fourth quarter worth approximately $870,000. Finally, Millennium Management LLC raised its holdings in shares of Clean Energy Fuels by 41.2% during the fourth quarter. Millennium Management LLC now owns 1,149,914 shares of the utilities provider’s stock valued at $2,886,000 after acquiring an additional 335,694 shares during the period. 49.94% of the stock is currently owned by institutional investors and hedge funds.

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.