Clean Energy Fuels (NASDAQ:CLNE) Shares Down 6%

Clean Energy Fuels Corp. (NASDAQ:CLNE) fell 6% during trading on Monday . The company traded as low as $2.51 and last traded at $2.51. 702,842 shares changed hands during trading, a decline of 58% from the average session volume of 1,660,608 shares. The stock had previously closed at $2.67.

Analyst Upgrades and Downgrades

CLNE has been the subject of a number of research analyst reports. Raymond James cut their target price on Clean Energy Fuels from $6.00 to $5.00 and set a “strong-buy” rating for the company in a research report on Wednesday, April 3rd. Scotiabank lowered their target price on Clean Energy Fuels from $6.00 to $5.00 and set a “sector outperform” rating on the stock in a report on Thursday, April 11th. StockNews.com raised shares of Clean Energy Fuels to a “sell” rating in a report on Monday, May 13th. Finally, Piper Sandler lowered their price objective on shares of Clean Energy Fuels from $7.00 to $4.00 and set an “overweight” rating on the stock in a research note on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $5.60.

Clean Energy Fuels Price Performance

The stock has a 50 day moving average of $2.62 and a two-hundred day moving average of $2.88. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.80 and a current ratio of 3.14. The stock has a market cap of $562.62 million, a PE ratio of -7.26 and a beta of 2.13.

Clean Energy Fuels (NASDAQ:CLNE) last released its earnings results on Thursday, May 9th. The utilities provider reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.05. The business had revenue of $103.71 million for the quarter, compared to the consensus estimate of $106.63 million. Clean Energy Fuels had a negative net margin of 19.98% and a negative return on equity of 11.09%. Equities analysts anticipate that Clean Energy Fuels Corp. will post -0.44 EPS for the current year.

Institutional Trading of Clean Energy Fuels

Several institutional investors have recently made changes to their positions in the stock. Tidal Investments LLC purchased a new stake in shares of Clean Energy Fuels during the 1st quarter worth about $33,000. Grassi Investment Management acquired a new stake in Clean Energy Fuels in the first quarter valued at approximately $36,000. Prio Wealth Limited Partnership acquired a new stake in Clean Energy Fuels in the fourth quarter valued at approximately $38,000. Sunbelt Securities Inc. grew its position in Clean Energy Fuels by 1,052.6% in the third quarter. Sunbelt Securities Inc. now owns 10,950 shares of the utilities provider’s stock worth $42,000 after acquiring an additional 10,000 shares in the last quarter. Finally, Pinnacle Wealth Planning Services Inc. acquired a new position in shares of Clean Energy Fuels during the 1st quarter worth $52,000. 49.94% 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 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.