Clean Energy Fuels (NASDAQ:CLNE) Shares Down 5.2%

Clean Energy Fuels Corp. (NASDAQ:CLNE)’s share price traded down 5.2% on Tuesday . The company traded as low as $3.45 and last traded at $3.47. 357,860 shares changed hands during trading, a decline of 81% from the average session volume of 1,914,691 shares. The stock had previously closed at $3.66.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CLNE. StockNews.com raised Clean Energy Fuels to a “sell” rating in a report on Friday, November 10th. Piper Sandler upped their target price on Clean Energy Fuels from $7.00 to $8.00 in a report on Tuesday, August 1st. TheStreet cut Clean Energy Fuels from a “c-” rating to a “d” rating in a research note on Wednesday, August 9th. Raymond James raised shares of Clean Energy Fuels from an “outperform” rating to a “strong-buy” rating and set a $6.00 price objective for the company in a research note on Tuesday, October 3rd. Finally, Northland Securities initiated coverage on Clean Energy Fuels in a research note on Tuesday, September 5th. They issued an “outperform” rating and a $7.50 price objective for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $9.71.

Clean Energy Fuels Trading Down 5.5 %

The company has a market capitalization of $771.65 million, a P/E ratio of -8.24 and a beta of 2.22. The company has a 50-day simple moving average of $3.77 and a 200 day simple moving average of $4.24. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.42 and a current ratio of 2.69.

Institutional Investors Weigh In On Clean Energy Fuels

Institutional investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Clean Energy Fuels by 24.7% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,507 shares of the utilities provider’s stock valued at $142,000 after purchasing an additional 6,448 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC lifted its holdings in shares of Clean Energy Fuels by 31.2% during the first quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 15,186,918 shares of the utilities provider’s stock valued at $66,215,000 after acquiring an additional 3,613,155 shares during the period. Shell Asset Management Co. boosted its stake in shares of Clean Energy Fuels by 661.9% in the 2nd quarter. Shell Asset Management Co. now owns 212,884 shares of the utilities provider’s stock valued at $1,056,000 after purchasing an additional 184,943 shares in the last quarter. Global Alpha Capital Management Ltd. grew its holdings in shares of Clean Energy Fuels by 22.9% in the 1st quarter. Global Alpha Capital Management Ltd. now owns 7,158,976 shares of the utilities provider’s stock worth $31,213,000 after purchasing an additional 1,331,895 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its position in shares of Clean Energy Fuels by 16.6% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 23,901 shares of the utilities provider’s stock worth $119,000 after purchasing an additional 3,408 shares in the last quarter. 49.40% of the stock is owned by institutional investors and hedge funds.

About Clean Energy Fuels

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.