StockNews.com Downgrades Clean Energy Fuels (NASDAQ:CLNE) to Sell

StockNews.com cut shares of Clean Energy Fuels (NASDAQ:CLNE) from a hold rating to a sell rating in a report published on Wednesday.

Separately, Raymond James reiterated a “strong-buy” rating and set a $4.00 price objective (down from $5.00) on shares of Clean Energy Fuels in a report on Tuesday.

Clean Energy Fuels Trading Down 4.2 %

Shares of NASDAQ CLNE opened at $1.94 on Wednesday. The business has a 50-day moving average price of $2.92 and a two-hundred day moving average price of $2.94. The company has a current ratio of 3.06, a quick ratio of 2.74 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $432.39 million, a PE ratio of -6.24 and a beta of 2.18. Clean Energy Fuels has a one year low of $1.81 and a one year high of $3.67.

Clean Energy Fuels (NASDAQ:CLNE) last announced its quarterly earnings data on Monday, February 24th. The utilities provider reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.04. The firm had revenue of $109.33 million for the quarter, compared to the consensus estimate of $102.60 million. Clean Energy Fuels had a negative net margin of 17.32% and a negative return on equity of 7.59%. During the same period in the previous year, the firm posted $0.01 earnings per share. As a group, analysts predict that Clean Energy Fuels will post -0.33 earnings per share for the current fiscal year.

Insider Activity at Clean Energy Fuels

In other Clean Energy Fuels news, CFO Robert M. Vreeland bought 15,000 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was bought at an average cost of $1.94 per share, with a total value of $29,100.00. Following the completion of the transaction, the chief financial officer now directly owns 458,800 shares of the company’s stock, valued at approximately $890,072. The trade was a 3.38 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Clean Energy Fuels

A number of large investors have recently bought and sold shares of CLNE. MQS Management LLC acquired a new stake in shares of Clean Energy Fuels in the third quarter worth about $72,000. Global Alpha Capital Management Ltd. raised its stake in shares of Clean Energy Fuels by 1.5% in the 3rd quarter. Global Alpha Capital Management Ltd. now owns 7,145,976 shares of the utilities provider’s stock valued at $22,224,000 after acquiring an additional 102,400 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Clean Energy Fuels in the 3rd quarter worth approximately $236,000. Intech Investment Management LLC bought a new stake in Clean Energy Fuels during the third quarter worth approximately $124,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in Clean Energy Fuels by 1.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,443,182 shares of the utilities provider’s stock valued at $4,488,000 after purchasing an additional 15,737 shares during the last quarter. 49.94% of the stock is currently owned by 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.