Piper Sandler Cuts Clean Energy Fuels (NASDAQ:CLNE) Price Target to $4.00

Clean Energy Fuels (NASDAQ:CLNE) had its price objective reduced by investment analysts at Piper Sandler from $7.00 to $4.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the utilities provider’s stock. Piper Sandler’s target price would indicate a potential upside of 74.67% from the stock’s current price.

CLNE has been the subject of a number of other research reports. Raymond James decreased their price target 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. StockNews.com upgraded shares of Clean Energy Fuels to a “sell” rating in a research note on Tuesday, April 9th. Stifel Nicolaus reduced 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. Finally, Scotiabank reduced their target price 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. One investment analyst has rated the stock with a sell rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $5.60.

Clean Energy Fuels Stock Performance

Shares of NASDAQ CLNE remained flat at $2.29 during mid-day trading on Thursday. 148,186 shares of the company were exchanged, compared to its average volume of 1,642,657. The stock has a market cap of $511.27 million, a PE ratio of -5.20 and a beta of 2.06. The stock has a 50-day simple moving average of $2.71 and a 200 day simple moving average of $3.25. The company has a current ratio of 2.87, a quick ratio of 2.59 and a debt-to-equity ratio of 0.36. Clean Energy Fuels has a 1 year low of $2.22 and a 1 year high of $5.25.

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

Institutional Trading of Clean Energy Fuels

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. lifted its stake in shares of Clean Energy Fuels by 1.4% in the second quarter. BlackRock Inc. now owns 13,522,092 shares of the utilities provider’s stock valued at $67,070,000 after purchasing an additional 184,661 shares during the period. State Street Corp lifted its stake in shares of Clean Energy Fuels by 19.6% in the second quarter. State Street Corp now owns 12,696,002 shares of the utilities provider’s stock valued at $56,878,000 after purchasing an additional 2,082,455 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Clean Energy Fuels by 6.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 12,314,636 shares of the utilities provider’s stock valued at $47,167,000 after purchasing an additional 702,049 shares during the period. Vanguard Group Inc. lifted its stake in shares of Clean Energy Fuels by 3.7% in the fourth quarter. Vanguard Group Inc. now owns 10,001,030 shares of the utilities provider’s stock valued at $38,304,000 after purchasing an additional 357,860 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Clean Energy Fuels by 3.4% in the second quarter. Geode Capital Management LLC now owns 3,490,424 shares of the utilities provider’s stock valued at $17,313,000 after purchasing an additional 113,930 shares during the period. Institutional investors and hedge funds 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.