BidaskClub cut shares of Clean Energy Fuels Corp. (NASDAQ:CLNE) from a hold rating to a sell rating in a research report released on Friday.

CLNE has been the subject of a number of other research reports. Zacks Investment Research upgraded Clean Energy Fuels Corp. from a hold rating to a strong-buy rating and set a $3.00 price target for the company in a research note on Tuesday, May 9th. ValuEngine lowered Clean Energy Fuels Corp. from a buy rating to a hold rating in a research note on Friday, June 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $4.53.

Shares of Clean Energy Fuels Corp. (NASDAQ:CLNE) opened at 2.24 on Friday. The company’s 50-day moving average price is $2.60 and its 200 day moving average price is $2.53. The company has a market cap of $338.04 million, a price-to-earnings ratio of 12.17 and a beta of 1.87. Clean Energy Fuels Corp. has a 1-year low of $2.18 and a 1-year high of $4.80.

Clean Energy Fuels Corp. (NASDAQ:CLNE) last issued its quarterly earnings results on Thursday, August 3rd. The utilities provider reported ($0.10) earnings per share (EPS) for the quarter, topping the Zacks’ 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 analyst estimates of $86.97 million. During the same quarter in the prior year, the business posted $0.03 EPS. Clean Energy Fuels Corp.’s revenue for the quarter was down 25.0% compared to the same quarter last year. On average, analysts predict that Clean Energy Fuels Corp. will post $0.03 earnings per share for the current fiscal year.

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In related news, CFO Robert M. Vreeland acquired 11,500 shares of the company’s stock in a transaction on Friday, August 11th. The stock was acquired at an average price of $2.32 per share, with a total value of $26,680.00. Following the acquisition, the chief financial officer now directly owns 170,654 shares of the company’s stock, valued at $395,917.28. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Andrew J. Littlefair acquired 22,500 shares of the company’s stock in a transaction on Wednesday, May 31st. The shares were bought at an average cost of $2.24 per share, with a total value of $50,400.00. Following the acquisition, the chief executive officer now directly owns 1,312,167 shares in the company, valued at $2,939,254.08. The disclosure for this purchase can be found here. Insiders have acquired a total of 97,000 shares of company stock valued at $221,050 in the last three months. Insiders own 26.69% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CLNE. Teachers Advisors LLC increased its position 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 period. Dimensional Fund Advisors LP increased its position 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 period. Tudor Investment Corp ET AL increased its position in Clean Energy Fuels Corp. by 16.9% in the first quarter. Tudor Investment Corp ET AL now owns 116,607 shares of the utilities provider’s stock valued at $297,000 after buying an additional 16,842 shares during the period. Metropolitan Life Insurance Co. NY increased its position 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 period. Finally, Everett Harris & Co. CA increased its position in Clean Energy Fuels Corp. by 292.7% in the first quarter. Everett Harris & Co. CA now owns 40,250 shares of the utilities provider’s stock valued at $103,000 after buying an additional 30,000 shares during the period. 33.05% of the stock is owned by institutional investors and hedge funds.

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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