Clean Energy Fuels (NASDAQ:CLNE) Stock Rating Upgraded by StockNews.com

Clean Energy Fuels (NASDAQ:CLNE) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Monday.

Separately, Scotiabank raised their target price on shares of 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 equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Clean Energy Fuels presently has an average rating of “Buy” and an average target price of $5.38.

Clean Energy Fuels Stock Performance

Clean Energy Fuels stock traded down $0.05 during midday trading on Monday, hitting $3.10. The company’s stock had a trading volume of 1,691,832 shares, compared to its average volume of 1,592,055. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.87 and a quick ratio of 2.82. Clean Energy Fuels has a 1-year low of $2.17 and a 1-year high of $4.13. The company has a market cap of $692.73 million, a price-to-earnings ratio of -10.00 and a beta of 2.12. The company has a 50-day moving average price of $2.95 and a two-hundred day moving average price of $2.79.

Clean Energy Fuels (NASDAQ:CLNE) last released its earnings results on Wednesday, November 6th. The utilities provider reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.04. Clean Energy Fuels had a negative net margin of 17.32% and a negative return on equity of 7.58%. The firm had revenue of $104.90 million for the quarter, compared to analyst estimates of $100.64 million. During the same period last year, the firm earned ($0.12) EPS. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. As a group, sell-side analysts predict that Clean Energy Fuels will post -0.34 earnings per share for the current year.

Institutional Investors Weigh In On Clean Energy Fuels

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Clean Energy Fuels by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 10,101,301 shares of the utilities provider’s stock valued at $27,071,000 after purchasing an additional 100,271 shares during the last quarter. Global Alpha Capital Management Ltd. grew its holdings in Clean Energy Fuels by 1.5% during 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 acquiring an additional 102,400 shares during the last quarter. SIR Capital Management L.P. grew its holdings in Clean Energy Fuels by 9.8% during the 2nd quarter. SIR Capital Management L.P. now owns 2,764,529 shares of the utilities provider’s stock worth $7,381,000 after acquiring an additional 246,600 shares during the last quarter. Connors Investor Services Inc. grew its holdings in Clean Energy Fuels by 5.1% during the 1st quarter. Connors Investor Services Inc. now owns 813,904 shares of the utilities provider’s stock worth $2,181,000 after acquiring an additional 39,186 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Clean Energy Fuels by 11.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 642,202 shares of the utilities provider’s stock worth $1,715,000 after acquiring an additional 66,523 shares during the last quarter. 49.94% of the stock is owned by institutional investors.

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.