Clean Energy Fuels Corp. (NASDAQ:CLNE) Given Average Rating of “Buy” by Analysts

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

A number of equities research analysts have issued reports on CLNE shares. Piper Sandler cut their target price on Clean Energy Fuels from $7.00 to $4.00 and set an “overweight” rating on the stock in a research note on Thursday, April 18th. Raymond James reduced their target price on shares of Clean Energy Fuels from $6.00 to $5.00 and set a “strong-buy” rating for the company in a research note on Wednesday, April 3rd. Stifel Nicolaus dropped their price target on shares of Clean Energy Fuels from $8.00 to $6.50 and set a “buy” rating on the stock in a research note on Tuesday, January 23rd. Scotiabank decreased their price objective 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, StockNews.com upgraded Clean Energy Fuels to a “sell” rating in a research report on Tuesday, April 9th.

Clean Energy Fuels Price Performance

Shares of NASDAQ:CLNE opened at $2.44 on Tuesday. The company has a market cap of $544.76 million, a PE ratio of -5.55 and a beta of 2.06. Clean Energy Fuels has a fifty-two week low of $2.17 and a fifty-two week high of $5.25. The firm has a 50-day simple moving average of $2.59 and a 200 day simple moving average of $3.16. The company has a quick ratio of 2.59, a current ratio of 2.87 and a debt-to-equity ratio of 0.36.

Clean Energy Fuels (NASDAQ:CLNE) last posted its earnings results on Tuesday, February 27th. The utilities provider reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.02. The company had revenue of $106.86 million during the quarter, compared to analyst estimates of $106.50 million. Clean Energy Fuels had a negative return on equity of 14.05% and a negative net margin of 23.40%. On average, sell-side analysts anticipate that Clean Energy Fuels will post -0.44 EPS for the current year.

Institutional Investors Weigh In On Clean Energy Fuels

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its position in shares of Clean Energy Fuels by 6.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 12,314,636 shares of the utilities provider’s stock valued at $47,167,000 after purchasing an additional 702,049 shares during the period. Schonfeld Strategic Advisors LLC acquired a new position in Clean Energy Fuels during the third quarter worth about $6,997,000. Charles Schwab Investment Management Inc. raised its position in Clean Energy Fuels by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,367,278 shares of the utilities provider’s stock worth $5,237,000 after acquiring an additional 19,616 shares in the last quarter. Rice Hall James & Associates LLC lifted its holdings in Clean Energy Fuels by 25.6% in the 3rd quarter. Rice Hall James & Associates LLC now owns 1,169,170 shares of the utilities provider’s stock valued at $4,478,000 after acquiring an additional 238,165 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in shares of Clean Energy Fuels during the 4th quarter valued at about $1,566,000. 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.