Clean Energy Fuels (NASDAQ:CLNE) Cut to Sell at StockNews.com

Clean Energy Fuels (NASDAQ:CLNE) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Friday.

Separately, Scotiabank raised their price objective on Clean Energy Fuels from $5.00 to $6.00 and gave the company a “sector outperform” rating in a report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $5.38.

Clean Energy Fuels Stock Performance

Shares of NASDAQ CLNE traded up $0.04 during midday trading on Friday, reaching $2.77. 1,327,595 shares of the stock were exchanged, compared to its average volume of 1,625,420. The company has a quick ratio of 2.74, a current ratio of 3.06 and a debt-to-equity ratio of 0.36. The firm has a 50-day simple moving average of $2.91 and a two-hundred day simple moving average of $2.84. Clean Energy Fuels has a twelve month low of $2.17 and a twelve month high of $4.13. The firm has a market cap of $618.98 million, a price-to-earnings ratio of -8.94 and a beta of 2.14.

Clean Energy Fuels (NASDAQ:CLNE) last issued its quarterly earnings data on Wednesday, November 6th. The utilities provider reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.04. Clean Energy Fuels had a negative net margin of 17.32% and a negative return on equity of 7.59%. The business had revenue of $104.90 million during the quarter, compared to the consensus estimate of $100.64 million. During the same quarter in the prior year, the firm posted ($0.12) earnings per share. The company’s revenue was up 9.7% compared to the same quarter last year. As a group, analysts anticipate that Clean Energy Fuels will post -0.33 EPS for the current fiscal year.

Hedge Funds Weigh In On Clean Energy Fuels

A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Clean Energy Fuels by 1.0% in the first quarter. Vanguard Group Inc. now owns 10,101,301 shares of the utilities provider’s stock worth $27,071,000 after buying an additional 100,271 shares in the last quarter. Global Alpha Capital Management Ltd. lifted its stake in Clean Energy Fuels by 1.5% in the 3rd quarter. Global Alpha Capital Management Ltd. now owns 7,145,976 shares of the utilities provider’s stock worth $22,224,000 after purchasing an additional 102,400 shares in the last quarter. State Street Corp boosted its holdings in shares of Clean Energy Fuels by 0.5% during the 3rd quarter. State Street Corp now owns 5,923,358 shares of the utilities provider’s stock worth $18,422,000 after purchasing an additional 31,602 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Clean Energy Fuels by 3.1% in the third quarter. Geode Capital Management LLC now owns 4,203,217 shares of the utilities provider’s stock valued at $13,075,000 after purchasing an additional 126,760 shares in the last quarter. Finally, SIR Capital Management L.P. grew its position in shares of Clean Energy Fuels by 9.8% in the second quarter. SIR Capital Management L.P. now owns 2,764,529 shares of the utilities provider’s stock valued at $7,381,000 after purchasing an additional 246,600 shares in the last quarter. Institutional investors and hedge funds own 49.94% of the company’s stock.

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.