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

StockNews.com upgraded shares of Clean Energy Fuels (NASDAQ:CLNE) to a sell rating in a research note published on Friday.

A number of other equities research analysts have also recently commented on CLNE. Northland Securities began coverage on shares of Clean Energy Fuels in a research note on Tuesday, September 5th. They set an outperform rating and a $7.50 price objective on the stock. TheStreet lowered Clean Energy Fuels from a c- rating to a d rating in a report on Wednesday, August 9th. Stifel Nicolaus lifted their price target on Clean Energy Fuels from $6.00 to $7.00 and gave the stock a buy rating in a report on Tuesday, August 22nd. Finally, Piper Sandler lifted their price target on Clean Energy Fuels from $7.00 to $8.00 in a report on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Clean Energy Fuels currently has an average rating of Moderate Buy and an average price target of $9.63.

Clean Energy Fuels Price Performance

Shares of NASDAQ:CLNE opened at $4.09 on Friday. Clean Energy Fuels has a twelve month low of $3.84 and a twelve month high of $7.73. The company’s 50 day moving average is $4.52 and its 200 day moving average is $4.44. The company has a current ratio of 3.06, a quick ratio of 2.76 and a debt-to-equity ratio of 0.21. The company has a market cap of $911.95 million, a PE ratio of -12.03 and a beta of 2.21.

Clean Energy Fuels (NASDAQ:CLNE) last issued its quarterly earnings results on Wednesday, August 9th. The utilities provider reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.05). The business had revenue of $90.50 million during the quarter, compared to analyst estimates of $109.75 million. Clean Energy Fuels had a negative return on equity of 10.66% and a negative net margin of 16.51%. Clean Energy Fuels’s quarterly revenue was down 6.9% compared to the same quarter last year. During the same quarter last year, the company posted ($0.06) EPS. On average, sell-side analysts forecast that Clean Energy Fuels will post -0.39 EPS for the current year.

Institutional Investors Weigh In On Clean Energy Fuels

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. GTS Securities LLC purchased a new stake in Clean Energy Fuels in the second quarter valued at approximately $131,000. Wells Fargo & Company MN grew its holdings in Clean Energy Fuels by 1.0% in the second quarter. Wells Fargo & Company MN now owns 442,136 shares of the utilities provider’s stock valued at $2,193,000 after purchasing an additional 4,416 shares during the last quarter. Walleye Capital LLC acquired a new stake in Clean Energy Fuels in the second quarter valued at $2,541,000. Goldman Sachs Group Inc. lifted its position in shares of Clean Energy Fuels by 28.6% in the second quarter. Goldman Sachs Group Inc. now owns 1,475,609 shares of the utilities provider’s stock valued at $7,319,000 after acquiring an additional 328,337 shares in the last quarter. Finally, Connors Investor Services Inc. lifted its position in shares of Clean Energy Fuels by 31.1% in the second quarter. Connors Investor Services Inc. now owns 663,206 shares of the utilities provider’s stock valued at $3,290,000 after acquiring an additional 157,266 shares in the last quarter. Hedge funds and other institutional investors own 49.40% of the company’s stock.

Clean Energy Fuels Company Profile

Clean Energy Fuels Corp. provides natural gas as an alternative fuel 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.