Clean Energy Fuels Corp. (NASDAQ:CLNE) Receives Average Recommendation of “Moderate Buy” from Brokerages

Clean Energy Fuels Corp. (NASDAQ:CLNE) has been assigned an average recommendation of “Moderate Buy” from the six analysts that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $3.59.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Clean Energy Fuels in a report on Wednesday, October 8th.

Institutional Investors Weigh In On Clean Energy Fuels

Hedge funds have recently added to or reduced their stakes in the company. McElhenny Sheffield Capital Management LLC acquired a new position in shares of Clean Energy Fuels during the second quarter valued at about $292,000. Voya Investment Management LLC lifted its position in Clean Energy Fuels by 36.9% in the 1st quarter. Voya Investment Management LLC now owns 1,272,888 shares of the utilities provider’s stock valued at $1,973,000 after acquiring an additional 342,982 shares in the last quarter. Inspire Investing LLC boosted its stake in Clean Energy Fuels by 37.0% during the 1st quarter. Inspire Investing LLC now owns 217,199 shares of the utilities provider’s stock valued at $337,000 after purchasing an additional 58,668 shares during the last quarter. Versor Investments LP bought a new stake in Clean Energy Fuels during the 2nd quarter worth approximately $104,000. Finally, Ieq Capital LLC bought a new stake in Clean Energy Fuels during the 1st quarter worth approximately $100,000. Institutional investors and hedge funds own 49.94% of the company’s stock.

Clean Energy Fuels Stock Performance

NASDAQ:CLNE opened at $2.13 on Monday. The company has a quick ratio of 2.39, a current ratio of 2.69 and a debt-to-equity ratio of 0.48. Clean Energy Fuels has a twelve month low of $1.30 and a twelve month high of $3.67. The company has a fifty day moving average of $2.24 and a 200-day moving average of $2.37. The firm has a market capitalization of $467.11 million, a P/E ratio of -2.29 and a beta of 2.13.

About Clean Energy Fuels

Clean Energy Fuels Corp., founded in 1997 and headquartered in Newport Beach, California, is a leading provider of natural gas and renewable natural gas (RNG) fuel for the transportation sector. The company operates a network of more than 500 fueling stations across the United States and Canada, supplying compressed natural gas (CNG), liquefied natural gas (LNG) and RNG derived from organic waste streams. Clean Energy serves a diverse customer base that includes commercial trucking fleets, public transit agencies, refuse haulers and municipal vehicle operators.

In addition to fuel supply, Clean Energy offers turnkey station design, construction and ongoing maintenance services, as well as fueling hardware and project management.