Clean Energy Fuels Corp. (CLNE) Stock Rating Upgraded by Zacks Investment Research
Clean Energy Fuels Corp. (NASDAQ:CLNE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Monday. The brokerage presently has a $2.75 price target on the utilities provider’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 14.82% from the company’s previous close.
According to Zacks, “CLEAN ENERGY FUELS, based in Seal Beach, Calif., is the leading provider of natural gas (CNG and LNG) for transportation in North America. It has a broad customer base in the refuse, transit, ports, shuttle, taxi, intrastate and interstate trucking, airport and municipal fleet markets,across the United States and Canada. “
Several other brokerages also recently commented on CLNE. ValuEngine downgraded Clean Energy Fuels Corp. from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. BidaskClub upgraded Clean Energy Fuels Corp. from a “hold” rating to a “buy” rating in a research note on Thursday, July 13th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $4.95.
Clean Energy Fuels Corp. (NASDAQ CLNE) traded down 0.622% on Monday, reaching $2.395. The company had a trading volume of 2,616,846 shares. Clean Energy Fuels Corp. has a 12-month low of $2.18 and a 12-month high of $4.80. The stock’s 50-day moving average price is $2.66 and its 200-day moving average price is $2.56. The stock has a market capitalization of $360.44 million, a P/E ratio of 6.902 and a beta of 1.87.
Clean Energy Fuels Corp. (NASDAQ:CLNE) last issued its earnings results on Thursday, August 3rd. The utilities provider reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.02. Clean Energy Fuels Corp. had a return on equity of 5.14% and a net margin of 7.24%. The business had revenue of $81 million during the quarter, compared to the consensus estimate of $86.97 million. During the same quarter last year, the company earned $0.03 EPS. The firm’s revenue was down 25.0% compared to the same quarter last year. On average, equities research analysts anticipate that Clean Energy Fuels Corp. will post $0.00 EPS for the current fiscal year.
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In related news, CEO Andrew J. Littlefair bought 22,500 shares of the business’s stock in a transaction on Wednesday, May 31st. The stock was acquired at an average price of $2.24 per share, for a total transaction of $50,400.00. Following the purchase, the chief executive officer now directly owns 1,312,167 shares in the company, valued at $2,939,254.08. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew J. Littlefair purchased 43,000 shares of the stock in a transaction on Monday, August 7th. The stock was acquired at an average cost of $2.29 per share, for a total transaction of $98,470.00. Following the acquisition, the chief executive officer now owns 1,355,167 shares in the company, valued at $3,103,332.43. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 105,500 shares of company stock valued at $244,170. 26.69% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. State Street Corp boosted its stake in Clean Energy Fuels Corp. by 38.4% in the fourth quarter. State Street Corp now owns 3,968,696 shares of the utilities provider’s stock valued at $11,344,000 after buying an additional 1,100,253 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Clean Energy Fuels Corp. by 35.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,904,211 shares of the utilities provider’s stock valued at $11,166,000 after buying an additional 1,030,510 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its stake in Clean Energy Fuels Corp. by 0.3% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 73,674 shares of the utilities provider’s stock valued at $211,000 after buying an additional 222 shares during the last quarter. AQR Capital Management LLC acquired a new stake in Clean Energy Fuels Corp. during the fourth quarter valued at $182,000. Finally, Teachers Advisors LLC boosted its stake in Clean Energy Fuels Corp. by 118.4% in the fourth quarter. Teachers Advisors LLC now owns 806,326 shares of the utilities provider’s stock valued at $2,306,000 after buying an additional 437,148 shares during the last quarter. 33.38% of the stock is currently owned by hedge funds and other institutional investors.
About Clean Energy Fuels Corp.
Clean Energy Fuels Corp. (Clean Energy) is a provider of natural gas as an alternative fuel for vehicle fleets in the United States and Canada. The Company is engaged in supplying compressed natural gas (CNG), liquefied natural gas (LNG) and renewable natural gas (RNG) for light, medium and heavy-duty vehicles, and providing operation and maintenance (O&M) services for natural gas fueling stations.
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