Analysts Set Clean Energy Fuels Corp. (NASDAQ:CLNE) Price Target at $5.60

Shares of Clean Energy Fuels Corp. (NASDAQ:CLNE) have been assigned an average recommendation of “Buy” from the five brokerages that are covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $5.60.

A number of brokerages have issued reports on CLNE. Raymond James lowered their target price on Clean Energy Fuels from $6.00 to $5.00 and set a “strong-buy” rating for the company in a report on Wednesday, April 3rd. StockNews.com raised Clean Energy Fuels to a “sell” rating in a report on Monday, May 13th. Scotiabank lowered their target price on Clean Energy Fuels from $6.00 to $5.00 and set a “sector outperform” rating for the company in a report on Thursday, April 11th. Finally, Piper Sandler decreased their price target on Clean Energy Fuels from $7.00 to $4.00 and set an “overweight” rating for the company in a research note on Thursday, April 18th.

Institutional Investors Weigh In On Clean Energy Fuels

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Tidal Investments LLC bought a new stake in shares of Clean Energy Fuels during the 1st quarter valued at about $33,000. Grassi Investment Management bought a new stake in shares of Clean Energy Fuels during the 1st quarter valued at about $36,000. Prio Wealth Limited Partnership bought a new stake in shares of Clean Energy Fuels during the 4th quarter valued at about $38,000. Sunbelt Securities Inc. boosted its position in shares of Clean Energy Fuels by 1,052.6% during the 3rd quarter. Sunbelt Securities Inc. now owns 10,950 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 10,000 shares in the last quarter. Finally, Pinnacle Wealth Planning Services Inc. bought a new stake in shares of Clean Energy Fuels during the 1st quarter valued at about $52,000. Institutional investors and hedge funds own 49.94% of the company’s stock.

Clean Energy Fuels Price Performance

Clean Energy Fuels stock opened at $2.71 on Wednesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.80 and a current ratio of 3.14. Clean Energy Fuels has a 52 week low of $2.17 and a 52 week high of $5.25. The stock has a market capitalization of $605.03 million, a P/E ratio of -7.74 and a beta of 2.13. The stock has a fifty day moving average of $2.57 and a 200-day moving average of $2.94.

Clean Energy Fuels (NASDAQ:CLNE) last issued its earnings results on Thursday, May 9th. The utilities provider reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.05. Clean Energy Fuels had a negative return on equity of 11.09% and a negative net margin of 19.98%. The business had revenue of $103.71 million during the quarter, compared to analysts’ expectations of $106.63 million. On average, sell-side analysts expect that Clean Energy Fuels will post -0.44 earnings per share for the current fiscal year.

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.