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

StockNews.com upgraded shares of Clean Energy Fuels (NASDAQ:CLNE) from a sell rating to a hold rating in a research report sent to investors on Tuesday morning.

Separately, Scotiabank lifted their price target on shares of Clean Energy Fuels from $5.00 to $6.00 and gave the company a “sector outperform” rating in a research report on Tuesday, September 3rd. One analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $5.38.

Clean Energy Fuels Stock Performance

Clean Energy Fuels stock opened at $2.64 on Tuesday. Clean Energy Fuels has a fifty-two week low of $2.17 and a fifty-two week high of $4.13. The stock’s 50 day simple moving average is $2.84 and its two-hundred day simple moving average is $2.83. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.74 and a current ratio of 3.06. The stock has a market cap of $589.93 million, a price-to-earnings ratio of -8.52 and a beta of 2.14.

Clean Energy Fuels (NASDAQ:CLNE) last released its quarterly earnings results on Wednesday, November 6th. The utilities provider reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.04. The company had revenue of $104.90 million for the quarter, compared to analyst estimates of $100.64 million. Clean Energy Fuels had a negative return on equity of 7.59% and a negative net margin of 17.32%. The firm’s revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the company posted ($0.12) earnings per share. As a group, analysts expect that Clean Energy Fuels will post -0.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Clean Energy Fuels

Several large investors have recently modified their holdings of the stock. Global Alpha Capital Management Ltd. raised its holdings in Clean Energy Fuels by 1.5% in the third quarter. Global Alpha Capital Management Ltd. now owns 7,145,976 shares of the utilities provider’s stock worth $22,224,000 after buying an additional 102,400 shares during the last quarter. State Street Corp boosted its stake in Clean Energy Fuels by 0.5% during the 3rd quarter. State Street Corp now owns 5,923,358 shares of the utilities provider’s stock valued at $18,422,000 after purchasing an additional 31,602 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Clean Energy Fuels by 3.1% in the 3rd quarter. Geode Capital Management LLC now owns 4,203,217 shares of the utilities provider’s stock worth $13,075,000 after purchasing an additional 126,760 shares in the last quarter. SIR Capital Management L.P. lifted its holdings in shares of Clean Energy Fuels by 9.8% during the second quarter. SIR Capital Management L.P. now owns 2,764,529 shares of the utilities provider’s stock valued at $7,381,000 after purchasing an additional 246,600 shares in the last quarter. Finally, Yaupon Capital Management LP boosted its position in shares of Clean Energy Fuels by 4.9% during the third quarter. Yaupon Capital Management LP now owns 2,573,358 shares of the utilities provider’s stock valued at $8,003,000 after buying an additional 120,987 shares during the last quarter. Hedge funds and other institutional investors own 49.94% of the company’s stock.

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.