Clean Energy Fuels (NASDAQ:CLNE) Upgraded to Hold at StockNews.com

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

Separately, Scotiabank increased their price objective on Clean Energy Fuels from $5.00 to $6.00 and gave the stock a “sector outperform” rating in a report on Tuesday, September 3rd. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Clean Energy Fuels currently has a consensus rating of “Buy” and a consensus price target of $5.38.

Clean Energy Fuels Stock Performance

Shares of NASDAQ:CLNE opened at $2.55 on Tuesday. 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 company has a market cap of $569.82 million, a price-to-earnings ratio of -8.23 and a beta of 2.14. Clean Energy Fuels has a 12 month low of $2.17 and a 12 month high of $4.13. The company has a 50-day moving average price of $2.85 and a 200-day moving average price of $2.84.

Clean Energy Fuels (NASDAQ:CLNE) last posted its earnings results on Wednesday, November 6th. The utilities provider reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.04. The firm had revenue of $104.90 million for the quarter, compared to analysts’ expectations of $100.64 million. Clean Energy Fuels had a negative return on equity of 7.59% and a negative net margin of 17.32%. The business’s revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.12) earnings per share. As a group, equities analysts anticipate that Clean Energy Fuels will post -0.33 EPS for the current year.

Hedge Funds Weigh In On Clean Energy Fuels

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp raised its stake in shares of Clean Energy Fuels by 11.6% in the second quarter. Bank of New York Mellon Corp now owns 642,202 shares of the utilities provider’s stock worth $1,715,000 after purchasing an additional 66,523 shares during the last quarter. Rhumbline Advisers raised its position in Clean Energy Fuels by 2.4% in the 2nd quarter. Rhumbline Advisers now owns 292,747 shares of the utilities provider’s stock worth $782,000 after buying an additional 6,989 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in Clean Energy Fuels during the 2nd quarter valued at about $317,000. SIR Capital Management L.P. boosted its holdings in shares of Clean Energy Fuels by 9.8% during the 2nd quarter. SIR Capital Management L.P. now owns 2,764,529 shares of the utilities provider’s stock valued at $7,381,000 after acquiring an additional 246,600 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Clean Energy Fuels by 14.3% in the second quarter. American Century Companies Inc. now owns 263,142 shares of the utilities provider’s stock worth $703,000 after acquiring an additional 32,897 shares during the period. 49.94% of the stock is 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.