Clean Energy Fuels (NASDAQ:CLNE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The firm presently has a $2.50 price objective on the utilities provider’s stock. Zacks Investment Research‘s price target indicates a potential downside of 9.09% from the stock’s current price.
According to Zacks, “CLEAN ENERGY FUELS, based in Seal Beach, Calif., is the leading provider of natural gas (CNG and LNG) for transportation in North America. It has a broad customer base in the refuse, transit, ports, shuttle, taxi, intrastate and interstate trucking, airport and municipal fleet markets,across the United States and Canada. “
Several other research firms have also commented on CLNE. BidaskClub upgraded shares of Clean Energy Fuels from a “strong sell” rating to a “sell” rating in a research report on Saturday, January 5th. ValuEngine upgraded shares of Clean Energy Fuels from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Finally, Raymond James reiterated a “sell” rating on shares of Clean Energy Fuels in a research report on Wednesday, December 26th.
Shares of Clean Energy Fuels stock opened at $2.75 on Wednesday. The stock has a market capitalization of $461.88 million, a price-to-earnings ratio of -45.83 and a beta of 2.06. Clean Energy Fuels has a 12-month low of $1.38 and a 12-month high of $4.05. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.09 and a quick ratio of 1.89.
Clean Energy Fuels (NASDAQ:CLNE) last released its quarterly earnings results on Tuesday, March 12th. The utilities provider reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.02. The business had revenue of $96.23 million for the quarter, compared to analyst estimates of $85.30 million. Clean Energy Fuels had a negative net margin of 1.09% and a negative return on equity of 2.14%. As a group, sell-side analysts predict that Clean Energy Fuels will post -0.17 earnings per share for the current year.
Several hedge funds have recently added to or reduced their stakes in CLNE. Prudential Financial Inc. acquired a new stake in shares of Clean Energy Fuels in the fourth quarter valued at approximately $27,000. Two Sigma Securities LLC grew its position in shares of Clean Energy Fuels by 34.7% in the fourth quarter. Two Sigma Securities LLC now owns 21,068 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 5,433 shares during the last quarter. Great West Life Assurance Co. Can acquired a new stake in shares of Clean Energy Fuels in the fourth quarter valued at approximately $42,000. Legal & General Group Plc boosted its position in Clean Energy Fuels by 35.1% during the fourth quarter. Legal & General Group Plc now owns 26,962 shares of the utilities provider’s stock worth $46,000 after acquiring an additional 7,000 shares during the last quarter. Finally, HRT Financial LLC acquired a new stake in Clean Energy Fuels during the fourth quarter worth approximately $53,000. Institutional investors and hedge funds own 27.87% of the company’s stock.
Clean Energy Fuels Company Profile
Clean Energy Fuels Corp. provides natural gas as an alternative fuel for vehicle fleets in the United States and Canada. The company supplies renewable natural gas (RNG), compressed natural gas (CNG), and liquefied natural gas (LNG) for light, medium, and heavy-duty vehicles; and provides operation and maintenance services for vehicle fleet customer stations.
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