Clean Energy Fuels (NASDAQ:CLNE) Given New $4.00 Price Target at Scotiabank

Clean Energy Fuels (NASDAQ:CLNE) had its price objective decreased by Scotiabank from $6.00 to $4.00 in a research note released on Friday,Benzinga reports. Scotiabank currently has a sector outperform rating on the utilities provider’s stock.

Several other research firms have also recently issued reports on CLNE. StockNews.com cut Clean Energy Fuels from a “hold” rating to a “sell” rating in a research note on Wednesday, February 26th. Raymond James reiterated a “strong-buy” rating and issued a $4.00 price target (down previously from $5.00) on shares of Clean Energy Fuels in a report on Tuesday, February 25th.

Clean Energy Fuels Stock Up 1.4 %

Shares of NASDAQ CLNE opened at $1.49 on Friday. The company has a market cap of $333.71 million, a price-to-earnings ratio of -4.81 and a beta of 2.48. The company has a quick ratio of 2.74, a current ratio of 3.06 and a debt-to-equity ratio of 0.36. The firm’s fifty day moving average is $2.11 and its 200 day moving average is $2.61. Clean Energy Fuels has a 52 week low of $1.30 and a 52 week high of $3.67.

Clean Energy Fuels (NASDAQ:CLNE) last issued its quarterly earnings data on Monday, February 24th. The utilities provider reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.04. The firm had revenue of $109.33 million during 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 prior year, the firm posted $0.01 earnings per share. On average, equities research analysts expect that Clean Energy Fuels will post -0.33 earnings per share for the current year.

Insider Transactions at Clean Energy Fuels

In other Clean Energy Fuels news, CFO Robert M. Vreeland bought 15,000 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were purchased at an average price of $1.94 per share, for a total transaction of $29,100.00. Following the acquisition, the chief financial officer now owns 458,800 shares in the company, valued at approximately $890,072. This represents a 3.38 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In the last quarter, insiders bought 35,000 shares of company stock valued at $64,100. Corporate insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of CLNE. Dimensional Fund Advisors LP grew its holdings in Clean Energy Fuels by 1.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 9,498,040 shares of the utilities provider’s stock worth $23,840,000 after purchasing an additional 124,031 shares during the period. Global Alpha Capital Management Ltd. boosted its position in shares of Clean Energy Fuels by 3.4% in the 4th quarter. Global Alpha Capital Management Ltd. now owns 7,392,476 shares of the utilities provider’s stock worth $18,555,000 after purchasing an additional 246,500 shares in the last quarter. State Street Corp grew its stake in shares of Clean Energy Fuels by 0.5% in the 3rd quarter. State Street Corp now owns 5,923,358 shares of the utilities provider’s stock worth $18,422,000 after buying an additional 31,602 shares during the last quarter. Geode Capital Management LLC increased its position in Clean Energy Fuels by 3.1% during the 3rd quarter. Geode Capital Management LLC now owns 4,203,217 shares of the utilities provider’s stock valued at $13,075,000 after buying an additional 126,760 shares in the last quarter. Finally, SIR Capital Management L.P. raised its stake in Clean Energy Fuels by 7.3% during the fourth quarter. SIR Capital Management L.P. now owns 2,520,941 shares of the utilities provider’s stock valued at $6,328,000 after buying an additional 171,018 shares during the last quarter. 49.94% of the stock is 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.