Clean Energy Fuels (NASDAQ:CLNE) Reaches New 52-Week Low at $2.32

Clean Energy Fuels Corp. (NASDAQ:CLNE)’s stock price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $2.32 and last traded at $2.32, with a volume of 1091210 shares. The stock had previously closed at $2.44.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Scotiabank decreased their target price on Clean Energy Fuels from $6.00 to $5.00 and set a “sector outperform” rating for the company in a research report on Thursday, April 11th. Stifel Nicolaus decreased 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. Raymond James dropped their target price on shares of Clean Energy Fuels from $6.00 to $5.00 and set a “strong-buy” rating on the stock in a report on Wednesday, April 3rd. Finally, StockNews.com upgraded shares of Clean Energy Fuels to a “sell” rating in a report on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $6.40.

Clean Energy Fuels Price Performance

The business has a 50 day moving average of $2.72 and a two-hundred day moving average of $3.25. 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 (NASDAQ:CLNE) last released its quarterly earnings results on Tuesday, February 27th. The utilities provider reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $106.50 million. As a group, equities analysts forecast that Clean Energy Fuels Corp. will post -0.48 EPS for the current fiscal year.

Institutional Trading of Clean Energy Fuels

Hedge funds and other institutional investors have recently made changes to their positions in the business. Grassi Investment Management acquired a new position in Clean Energy Fuels during the 1st quarter valued at about $36,000. Arkadios Wealth Advisors purchased a new position in shares of Clean Energy Fuels in the 3rd quarter valued at approximately $38,000. Prio Wealth Limited Partnership acquired a new stake in Clean Energy Fuels in the 4th quarter worth approximately $38,000. Xponance Inc. acquired a new stake in Clean Energy Fuels in the 3rd quarter worth approximately $39,000. Finally, Sunbelt Securities Inc. grew its position in Clean Energy Fuels by 1,052.6% during the 3rd quarter. Sunbelt Securities Inc. now owns 10,950 shares of the utilities provider’s stock worth $42,000 after purchasing an additional 10,000 shares during 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.