Clean Energy Fuels (NASDAQ:CLNE) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Clean Energy Fuels (NASDAQ:CLNE) from a sell rating to a hold rating in a research note issued to investors on Monday, Zacks.com reports.

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. “

Other equities analysts have also recently issued research reports about the company. TheStreet cut Clean Energy Fuels from a c- rating to a d rating in a report on Friday, May 7th. Lake Street Capital upped their price target on Clean Energy Fuels from $9.00 to $27.00 and gave the company a buy rating in a research report on Thursday, February 11th. Needham & Company LLC began coverage on Clean Energy Fuels in a research report on Monday, May 10th. They issued a buy rating and a $12.00 price target for the company. Cowen began coverage on Clean Energy Fuels in a research report on Friday, March 26th. They issued a market perform rating and a $14.00 price objective for the company. Finally, Raymond James reiterated an underperform rating on shares of Clean Energy Fuels in a research report on Monday, April 26th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $16.40.

NASDAQ CLNE opened at $10.99 on Monday. The stock has a 50-day moving average of $10.10. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.23 and a quick ratio of 2.91. Clean Energy Fuels has a 52 week low of $2.01 and a 52 week high of $19.79. The company has a market capitalization of $2.20 billion, a P/E ratio of -122.11 and a beta of 1.85.

Clean Energy Fuels (NASDAQ:CLNE) last posted its quarterly earnings data on Thursday, May 6th. The utilities provider reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.02). The company had revenue of $77.10 million during the quarter, compared to the consensus estimate of $75.26 million. Clean Energy Fuels had a negative return on equity of 2.79% and a negative net margin of 6.62%. The firm’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same period last year, the business earned ($0.01) EPS. On average, analysts forecast that Clean Energy Fuels will post -0.17 EPS for the current fiscal year.

In other news, major shareholder Marketing Services S.A. Total sold 250,000 shares of Clean Energy Fuels stock in a transaction that occurred on Wednesday, April 28th. The shares were sold at an average price of $11.55, for a total transaction of $2,887,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Marketing Services S.A.S Total sold 37,073 shares of the business’s stock in a transaction that occurred on Monday, May 24th. The shares were sold at an average price of $8.02, for a total transaction of $297,325.46. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,607,451 shares of company stock worth $24,223,866. 3.40% of the stock is currently owned by company insiders.

Hedge funds have recently made changes to their positions in the company. Nisa Investment Advisors LLC raised its position in Clean Energy Fuels by 40.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 3,830 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 1,100 shares in the last quarter. Focused Wealth Management Inc increased its holdings in shares of Clean Energy Fuels by 78.2% in the first quarter. Focused Wealth Management Inc now owns 2,524 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 1,108 shares during the last quarter. Captrust Financial Advisors increased its holdings in shares of Clean Energy Fuels by 10,044.0% in the first quarter. Captrust Financial Advisors now owns 2,536 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 2,511 shares during the last quarter. IFP Advisors Inc grew its stake in shares of Clean Energy Fuels by 119.8% in the first quarter. IFP Advisors Inc now owns 4,395 shares of the utilities provider’s stock valued at $60,000 after acquiring an additional 2,395 shares in the last quarter. Finally, Riggs Asset Managment Co. Inc. grew its stake in shares of Clean Energy Fuels by 26.9% in the first quarter. Riggs Asset Managment Co. Inc. now owns 4,442 shares of the utilities provider’s stock valued at $61,000 after acquiring an additional 942 shares in the last quarter. 38.90% of the stock is currently owned by institutional investors and hedge funds.

Clean Energy Fuels Company Profile

Clean Energy Fuels Corp. provides natural gas as an alternative fuel for vehicle fleets and related fueling solutions, primarily in the United States and Canada. It supplies renewable natural gas (RNG), compressed natural gas (CNG), and liquefied natural gas (LNG) for light, medium, and heavy-duty vehicles; and offers operation and maintenance services for public and private vehicle fleet customer stations.

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