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

Clean Energy Fuels Corp. (NASDAQ:CLNE) has been assigned a consensus rating of “Buy” from the five brokerages that are currently covering the stock, Marketbeat reports. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $5.60.

A number of research analysts have issued reports on CLNE shares. Piper Sandler reduced their price objective on shares of Clean Energy Fuels from $7.00 to $4.00 and set an “overweight” rating on the stock in a research report on Thursday, April 18th. Raymond James reduced their price target on shares of Clean Energy Fuels from $6.00 to $5.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, April 3rd. Scotiabank lowered 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 report on Thursday, April 11th. Finally, StockNews.com upgraded Clean Energy Fuels to a “sell” rating in a report on Monday, May 13th.

Clean Energy Fuels Price Performance

CLNE stock opened at $2.69 on Friday. The company has a current ratio of 3.14, a quick ratio of 2.80 and a debt-to-equity ratio of 0.36. The firm’s 50-day moving average price is $2.47 and its two-hundred day moving average price is $3.01. The stock has a market capitalization of $600.58 million, a price-to-earnings ratio of -7.69 and a beta of 2.08. Clean Energy Fuels has a 12-month low of $2.17 and a 12-month high of $5.25.

Clean Energy Fuels (NASDAQ:CLNE) last released its quarterly earnings data on Tuesday, February 27th. The utilities provider reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.02. Clean Energy Fuels had a negative return on equity of 11.09% and a negative net margin of 19.98%. The business had revenue of $106.86 million during the quarter, compared to analysts’ expectations of $106.50 million. As a group, equities analysts predict that Clean Energy Fuels will post -0.44 earnings per share for the current year.

Institutional Investors Weigh In On Clean Energy Fuels

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Swiss National Bank lifted its holdings in shares of Clean Energy Fuels by 1.0% during the third quarter. Swiss National Bank now owns 392,058 shares of the utilities provider’s stock valued at $1,502,000 after purchasing an additional 3,800 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in Clean Energy Fuels by 19.9% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 29,680 shares of the utilities provider’s stock worth $114,000 after acquiring an additional 4,930 shares in the last quarter. Clearbridge Investments LLC grew its stake in shares of Clean Energy Fuels by 1.7% in the third quarter. Clearbridge Investments LLC now owns 341,822 shares of the utilities provider’s stock worth $1,309,000 after acquiring an additional 5,800 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Clean Energy Fuels by 39.2% during the third quarter. Principal Financial Group Inc. now owns 25,084 shares of the utilities provider’s stock valued at $96,000 after acquiring an additional 7,065 shares in the last quarter. Finally, Brown Advisory Inc. increased its holdings in shares of Clean Energy Fuels by 24.3% during the fourth quarter. Brown Advisory Inc. now owns 49,736 shares of the utilities provider’s stock valued at $190,000 after acquiring an additional 9,736 shares in the last quarter. 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.