Clean Energy Fuels (NASDAQ:CLNE) Shares Down 6.2% – What’s Next?

Clean Energy Fuels Corp. (NASDAQ:CLNE)’s stock price fell 6.2% during trading on Wednesday . The company traded as low as $2.34 and last traded at $2.3250. 258,816 shares traded hands during trading, a decline of 80% from the average session volume of 1,295,400 shares. The stock had previously closed at $2.48.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Clean Energy Fuels in a report on Wednesday, January 21st. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Clean Energy Fuels presently has a consensus rating of “Hold” and an average price target of $3.49.

Clean Energy Fuels Price Performance

The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.03 and a current ratio of 2.32. The business has a 50-day simple moving average of $2.38 and a 200 day simple moving average of $2.41. The firm has a market cap of $546.38 million, a P/E ratio of -2.49 and a beta of 2.03.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CLNE. Grantham Mayo Van Otterloo & Co. LLC boosted its stake in shares of Clean Energy Fuels by 2.0% during the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 11,851,464 shares of the utilities provider’s stock valued at $30,577,000 after purchasing an additional 237,816 shares in the last quarter. Vanguard Group Inc. raised its stake in Clean Energy Fuels by 3.1% in the third quarter. Vanguard Group Inc. now owns 11,402,549 shares of the utilities provider’s stock worth $29,419,000 after buying an additional 341,333 shares in the last quarter. Geode Capital Management LLC raised its stake in Clean Energy Fuels by 2.1% in the second quarter. Geode Capital Management LLC now owns 4,333,554 shares of the utilities provider’s stock worth $8,452,000 after buying an additional 87,716 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Clean Energy Fuels by 6.7% in the fourth quarter. JPMorgan Chase & Co. now owns 2,621,596 shares of the utilities provider’s stock worth $5,505,000 after buying an additional 163,720 shares during the period. Finally, SIR Capital Management L.P. boosted its position in Clean Energy Fuels by 17.2% during the 4th quarter. SIR Capital Management L.P. now owns 2,103,095 shares of the utilities provider’s stock valued at $4,416,000 after acquiring an additional 308,300 shares in the last quarter. 49.94% of the stock is currently owned by institutional investors.

Clean Energy Fuels Company Profile

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.