Clean Energy Fuels (NASDAQ:CLNE) Earns “Strong-Buy” Rating from Raymond James

Clean Energy Fuels (NASDAQ:CLNE)‘s stock had its “strong-buy” rating restated by research analysts at Raymond James in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $4.00 price objective on the utilities provider’s stock, down from their prior price objective of $5.00. Raymond James’ price objective indicates a potential upside of 109.97% from the company’s current price.

Separately, StockNews.com upgraded Clean Energy Fuels from a “sell” rating to a “hold” rating in a research report on Tuesday, February 4th.

Clean Energy Fuels Price Performance

Shares of CLNE traded down $0.81 during trading hours on Tuesday, hitting $1.91. 6,197,833 shares of the stock were exchanged, compared to its average volume of 2,777,585. The stock’s 50-day moving average price is $2.94 and its two-hundred day moving average price is $2.95. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.74 and a current ratio of 3.06. The company has a market cap of $425.69 million, a price-to-earnings ratio of -6.14 and a beta of 2.18. Clean Energy Fuels has a 12-month low of $1.82 and a 12-month high of $3.67.

Clean Energy Fuels (NASDAQ:CLNE) last issued its earnings results on Monday, February 24th. The utilities provider reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.04. Clean Energy Fuels had a negative net margin of 17.32% and a negative return on equity of 7.59%. The business had revenue of $109.33 million during the quarter, compared to analysts’ expectations of $102.60 million. During the same period in the prior year, the business earned $0.01 earnings per share. Research analysts expect that Clean Energy Fuels will post -0.33 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CLNE. Coppell Advisory Solutions LLC lifted its stake in shares of Clean Energy Fuels by 1,635.8% in the 4th quarter. Coppell Advisory Solutions LLC now owns 734,640 shares of the utilities provider’s stock valued at $1,829,000 after purchasing an additional 692,318 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Clean Energy Fuels by 309.5% during the third quarter. JPMorgan Chase & Co. now owns 730,218 shares of the utilities provider’s stock worth $2,271,000 after buying an additional 551,896 shares during the period. D. E. Shaw & Co. Inc. increased its position in shares of Clean Energy Fuels by 56.9% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,241,708 shares of the utilities provider’s stock valued at $3,117,000 after acquiring an additional 450,143 shares during the last quarter. Tudor Investment Corp ET AL purchased a new stake in shares of Clean Energy Fuels in the 4th quarter valued at approximately $870,000. Finally, Millennium Management LLC lifted its holdings in shares of Clean Energy Fuels by 41.2% in the 4th quarter. Millennium Management LLC now owns 1,149,914 shares of the utilities provider’s stock worth $2,886,000 after acquiring an additional 335,694 shares during the last quarter. 49.94% of the stock is currently owned by hedge funds and other institutional investors.

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.