Clean Energy Fuels (NASDAQ:CLNE) Raised to “Sell” at StockNews.com

StockNews.com upgraded shares of Clean Energy Fuels (NASDAQ:CLNE) to a sell rating in a research note released on Tuesday morning.

Several other brokerages have also recently issued reports on CLNE. Scotiabank reduced their price objective on Clean Energy Fuels from $7.00 to $6.00 and set a sector outperform rating for the company in a report on Wednesday, March 6th. Stifel Nicolaus reduced their price objective on Clean Energy Fuels from $8.00 to $6.50 and set a buy rating for the company in a report on Tuesday, January 23rd. One analyst has rated the stock with a sell rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $6.80.

Clean Energy Fuels Stock Up 1.9 %

CLNE opened at $2.68 on Tuesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.87 and a quick ratio of 2.59. The business has a 50 day simple moving average of $2.88 and a 200-day simple moving average of $3.42. The stock has a market capitalization of $598.28 million, a P/E ratio of -6.09 and a beta of 2.09. Clean Energy Fuels has a 12 month low of $2.32 and a 12 month high of $5.25.

Clean Energy Fuels (NASDAQ:CLNE) last posted its quarterly 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 business had revenue of $106.86 million during the quarter, compared to analysts’ expectations 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, equities analysts anticipate that Clean Energy Fuels will post -0.49 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Clean Energy Fuels

Several hedge funds have recently bought and sold shares of CLNE. Raymond James & Associates increased its position in Clean Energy Fuels by 48.7% during the first quarter. Raymond James & Associates now owns 65,322 shares of the utilities provider’s stock worth $519,000 after buying an additional 21,391 shares in the last quarter. Bank of New York Mellon Corp increased its position in Clean Energy Fuels by 5.0% during the first quarter. Bank of New York Mellon Corp now owns 848,159 shares of the utilities provider’s stock worth $6,734,000 after buying an additional 40,120 shares in the last quarter. Cetera Advisor Networks LLC increased its position in Clean Energy Fuels by 16.7% during the first quarter. Cetera Advisor Networks LLC now owns 33,376 shares of the utilities provider’s stock worth $265,000 after buying an additional 4,764 shares in the last quarter. MetLife Investment Management LLC increased its position in Clean Energy Fuels by 55.0% during the first quarter. MetLife Investment Management LLC now owns 83,879 shares of the utilities provider’s stock worth $666,000 after buying an additional 29,759 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Clean Energy Fuels by 1.6% in the first quarter. Dimensional Fund Advisors LP now owns 7,272,602 shares of the utilities provider’s stock valued at $57,745,000 after purchasing an additional 115,935 shares during the period. Hedge funds and other institutional investors own 49.94% of the company’s stock.

Clean Energy Fuels Company Profile

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.