Clean Energy Fuels (NASDAQ:CLNE) Price Target Cut to $4.00

Clean Energy Fuels (NASDAQ:CLNE) had its price objective decreased by investment analysts at Piper Sandler from $7.00 to $4.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the utilities provider’s stock. Piper Sandler’s target price suggests a potential upside of 80.18% from the company’s current price.

A number of other research firms have also commented on CLNE. Stifel Nicolaus dropped their price target on Clean Energy Fuels from $8.00 to $6.50 and set a “buy” rating on the stock in a research report on Tuesday, January 23rd. StockNews.com raised Clean Energy Fuels to a “sell” rating in a research report on Tuesday, April 9th. Scotiabank dropped their price target on Clean Energy Fuels from $6.00 to $5.00 and set a “sector outperform” rating on the stock in a research report on Thursday, April 11th. Finally, Raymond James dropped their price target on Clean Energy Fuels from $6.00 to $5.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, April 3rd. One investment analyst has rated the stock with a sell rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Clean Energy Fuels has an average rating of “Moderate Buy” and a consensus price target of $5.60.

Clean Energy Fuels Trading Down 0.9 %

NASDAQ:CLNE opened at $2.22 on Thursday. Clean Energy Fuels has a 1-year low of $2.18 and a 1-year high of $5.25. The business’s 50-day moving average price is $2.68 and its two-hundred day moving average price is $3.23. The company has a current ratio of 2.87, a quick ratio of 2.59 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $495.64 million, a price-to-earnings ratio of -5.05 and a beta of 2.06.

Clean Energy Fuels (NASDAQ:CLNE) last released its earnings results on Tuesday, February 27th. The utilities provider reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.02. The firm had revenue of $106.86 million for the quarter, compared to analyst estimates of $106.50 million. Clean Energy Fuels had a negative return on equity of 14.05% and a negative net margin of 23.40%. On average, equities analysts expect that Clean Energy Fuels will post -0.48 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Arbor Capital Management Inc. ADV bought a new position in shares of Clean Energy Fuels during the first quarter worth about $45,000. Arkadios Wealth Advisors bought a new position in Clean Energy Fuels in the third quarter valued at approximately $38,000. Prio Wealth Limited Partnership bought a new position in Clean Energy Fuels in the fourth quarter valued at approximately $38,000. Xponance Inc. bought a new position in Clean Energy Fuels in the third quarter valued at approximately $39,000. Finally, Tower Research Capital LLC TRC grew its stake in Clean Energy Fuels by 77.6% in the first quarter. Tower Research Capital LLC TRC now owns 10,292 shares of the utilities provider’s stock valued at $45,000 after purchasing an additional 4,498 shares in the last quarter. 49.94% of the stock is currently owned by institutional investors.

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.