Clean Energy Fuels (NASDAQ:CLNE) Price Target Cut to $4.00 by Analysts at Piper Sandler

Clean Energy Fuels (NASDAQ:CLNE) had its price target reduced by Piper Sandler from $7.00 to $4.00 in a research note issued to investors on Thursday, Benzinga reports. Piper Sandler currently has an overweight rating on the utilities provider’s stock.

Several other brokerages have also recently commented on CLNE. Raymond James decreased their price objective 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. Scotiabank decreased their price objective on shares of Clean Energy Fuels from $6.00 to $5.00 and set a sector outperform rating for the company in a research note on Thursday, April 11th. StockNews.com upgraded shares of Clean Energy Fuels to a sell rating in a research note on Tuesday, April 9th. Finally, Stifel Nicolaus decreased their target price on shares of Clean Energy Fuels from $8.00 to $6.50 and set a buy rating for the company in a research note on Tuesday, January 23rd. One analyst has rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $5.60.

Clean Energy Fuels Stock Down 2.2 %

Shares of NASDAQ CLNE opened at $2.24 on Thursday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.59 and a current ratio of 2.87. Clean Energy Fuels has a 12 month low of $2.21 and a 12 month high of $5.25. The company has a 50 day simple moving average of $2.70 and a two-hundred day simple moving average of $3.24.

Clean Energy Fuels (NASDAQ:CLNE) last announced its quarterly earnings data on Tuesday, February 27th. The utilities provider reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.02. Clean Energy Fuels had a negative net margin of 23.40% and a negative return on equity of 14.05%. The business had revenue of $106.86 million during the quarter, compared to analysts’ expectations of $106.50 million. As a group, research analysts expect that Clean Energy Fuels will post -0.48 earnings per share for the current year.

Institutional Trading of Clean Energy Fuels

Hedge funds have recently added to or reduced their stakes in the company. Arkadios Wealth Advisors purchased a new stake in Clean Energy Fuels during the third quarter worth $38,000. Prio Wealth Limited Partnership purchased a new position in Clean Energy Fuels during the fourth quarter valued at $38,000. Arbor Capital Management Inc. ADV purchased a new position in Clean Energy Fuels during the first quarter valued at $45,000. Xponance Inc. purchased a new position in Clean Energy Fuels during the third quarter valued at $39,000. Finally, Tower Research Capital LLC TRC lifted its holdings in Clean Energy Fuels by 77.6% during the first quarter. Tower Research Capital LLC TRC now owns 10,292 shares of the utilities provider’s stock valued at $45,000 after purchasing an additional 4,498 shares in the last quarter. 49.94% of the stock is owned by hedge funds and other institutional investors.

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.