Clean Energy Fuels (NASDAQ:CLNE) Stock Rating Raised to “Hold” at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Clean Energy Fuels (NASDAQ:CLNE) to a hold rating in a report issued on Tuesday,Zacks reports.

CLNE has been the topic of several other reports. Weiss Ratings upgraded Clean Energy Fuels from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, September 22nd. Raymond James Financial reiterated a “strong-buy” rating and set a $2.50 price objective on shares of Clean Energy Fuels in a report on Tuesday, August 18th. Finally, UBS Group downgraded shares of Clean Energy Fuels from a “buy” rating to a “hold” rating and set a $2.75 target price on the stock. in a report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Clean Energy Fuels currently has a consensus rating of “Hold” and an average price target of $2.38.

Clean Energy Fuels Price Performance

Shares of CLNE stock opened at $1.57 on Tuesday. The firm has a market cap of $345.75 million, a price-to-earnings ratio of -3.57 and a beta of 1.82. Clean Energy Fuels has a 12 month low of $1.54 and a 12 month high of $3.11. The company has a quick ratio of 2.15, a current ratio of 2.48 and a debt-to-equity ratio of 0.41. The stock has a 50-day moving average price of $1.72 and a 200 day moving average price of $2.00.

Clean Energy Fuels (NASDAQ:CLNE) last posted its quarterly earnings results on Thursday, August 6th. The utilities provider reported ($0.01) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.01). Clean Energy Fuels had a negative return on equity of 16.52% and a negative net margin of 21.27%.The business had revenue of $106.36 million for the quarter, compared to analyst estimates of $111.27 million. Clean Energy Fuels’s quarterly revenue was up 3.7% compared to the same quarter last year. Research analysts expect that Clean Energy Fuels will post -0.3 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. State Street Corp raised its holdings in shares of Clean Energy Fuels by 9.1% in the second quarter. State Street Corp now owns 6,374,675 shares of the utilities provider’s stock valued at $13,068,000 after purchasing an additional 533,331 shares during the last quarter. SIR Capital Management L.P. boosted its holdings in Clean Energy Fuels by 17.2% during the fourth quarter. SIR Capital Management L.P. now owns 2,103,095 shares of the utilities provider’s stock worth $4,416,000 after purchasing an additional 308,300 shares during the last quarter. J. Derek Lewis & Associates Inc. bought a new position in Clean Energy Fuels in the fourth quarter valued at $3,915,000. Arrowstreet Capital Limited Partnership bought a new position in Clean Energy Fuels in the first quarter valued at $3,160,000. Finally, Empowered Funds LLC increased its stake in Clean Energy Fuels by 7.0% in the 1st quarter. Empowered Funds LLC now owns 1,075,824 shares of the utilities provider’s stock valued at $2,668,000 after buying an additional 70,187 shares during the last quarter. 49.94% of the stock is owned by institutional investors and hedge funds.

Clean Energy Fuels Company Profile

Clean Energy Fuels Corp. (NASDAQ: CLNE) provides fuel and infrastructure solutions for heavy-duty transportation fleets in the United States and Canada. The company develops, owns and operates natural gas fueling stations and supplies compressed natural gas (CNG) and liquefied natural gas (LNG) for vehicles that travel substantial distances and require centralized fueling.

Clean Energy serves a range of commercial and public-sector customers, including refuse and recycling companies, transit agencies, trucking fleets, airports, utilities and other fleet operators.