Clean Energy Fuels Corp. (NASDAQ:CLNE) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

Several other research firms have also issued reports on CLNE. Zacks Investment Research lowered shares of Clean Energy Fuels Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. ValuEngine lowered shares of Clean Energy Fuels Corp. from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $5.03.

Shares of Clean Energy Fuels Corp. (CLNE) traded down 8.37% during trading on Wednesday, reaching $2.41. 2,772,342 shares of the company’s stock traded hands. The stock has a 50-day moving average of $2.66 and a 200-day moving average of $2.56. The company has a market capitalization of $362.70 million, a price-to-earnings ratio of 6.95 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 released its quarterly earnings data on Thursday, August 3rd. The utilities provider reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.02. Clean Energy Fuels Corp. had a net margin of 11.63% and a return on equity of 9.51%. The company 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 earned $0.03 earnings per share. The business’s quarterly revenue was down 25.0% compared to the same quarter last year.

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In other news, Director Stephen Scully purchased 20,000 shares of the stock in a transaction that occurred on Wednesday, May 17th. The stock was acquired at an average cost of $2.49 per share, with a total value of $49,800.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Andrew J. Littlefair purchased 22,500 shares of the stock in a transaction that occurred on Wednesday, May 31st. The shares were purchased at an average cost of $2.24 per share, with a total value of $50,400.00. Following the completion of the acquisition, the chief executive officer now owns 1,312,167 shares in the company, valued at approximately $2,939,254.08. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 52,500 shares of company stock valued at $122,800. Company insiders own 26.69% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Clean Energy Fuels Corp. by 8.2% in the first quarter. Vanguard Group Inc. now owns 9,626,214 shares of the utilities provider’s stock worth $24,547,000 after buying an additional 728,727 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Clean Energy Fuels Corp. by 26.5% in the first quarter. Dimensional Fund Advisors LP now owns 4,938,763 shares of the utilities provider’s stock worth $12,594,000 after buying an additional 1,034,552 shares during the last quarter. State Street Corp raised 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 worth $11,344,000 after buying an additional 1,100,253 shares during the last quarter. American Century Companies Inc. raised its stake in Clean Energy Fuels Corp. by 35.4% in the first quarter. American Century Companies Inc. now owns 1,662,723 shares of the utilities provider’s stock worth $4,240,000 after buying an additional 434,280 shares during the last quarter. Finally, Teachers Advisors LLC raised its stake in Clean Energy Fuels Corp. by 11.2% in the first quarter. Teachers Advisors LLC now owns 897,022 shares of the utilities provider’s stock worth $2,287,000 after buying an additional 90,696 shares during the last quarter. 33.55% 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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