Clean Energy Fuels (NASDAQ:CLNE) Shares Down 2.9%

Clean Energy Fuels Corp. (NASDAQ:CLNE)’s stock price dropped 2.9% on Tuesday . The stock traded as low as $2.32 and last traded at $2.35. Approximately 706,749 shares were traded during mid-day trading, a decline of 55% from the average daily volume of 1,587,557 shares. The stock had previously closed at $2.42.

Wall Street Analyst Weigh In

CLNE has been the topic of several recent analyst reports. StockNews.com upgraded shares of Clean Energy Fuels to a “sell” rating in a report on Tuesday. Scotiabank reduced their price objective on Clean Energy Fuels from $7.00 to $6.00 and set a “sector outperform” rating for the company in a research report on Wednesday, March 6th. Finally, Stifel Nicolaus reduced their price objective on Clean Energy Fuels from $8.00 to $6.50 and set a “buy” rating for the company in a research report on Tuesday, January 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Clean Energy Fuels has a consensus rating of “Moderate Buy” and a consensus price target of $6.80.

Clean Energy Fuels Trading Up 1.9 %

The firm has a market cap of $598.28 million, a P/E ratio of -6.09 and a beta of 2.09. The stock has a fifty day simple moving average of $2.88 and a 200 day simple moving average of $3.42. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.59 and a current ratio of 2.87.

Clean Energy Fuels (NASDAQ:CLNE) last posted its earnings results on Tuesday, February 27th. The utilities provider reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.02. Clean Energy Fuels had a negative return on equity of 14.05% and a negative net margin of 23.40%. The business had revenue of $106.86 million during the quarter, compared to analyst estimates of $106.50 million. On average, research analysts expect that Clean Energy Fuels Corp. will post -0.49 earnings per share for the current fiscal year.

Institutional Trading of Clean Energy Fuels

Several large investors have recently modified their holdings of CLNE. ECP ControlCo LLC bought a new stake in shares of Clean Energy Fuels in the fourth quarter worth $13,493,000. State Street Corp grew its holdings in shares of Clean Energy Fuels by 19.6% in the second quarter. State Street Corp now owns 12,696,002 shares of the utilities provider’s stock worth $56,878,000 after acquiring an additional 2,082,455 shares during the period. Schonfeld Strategic Advisors LLC bought a new stake in shares of Clean Energy Fuels in the third quarter worth $6,997,000. Dimensional Fund Advisors LP grew its holdings in shares of Clean Energy Fuels by 16.6% in the first quarter. Dimensional Fund Advisors LP now owns 10,089,049 shares of the utilities provider’s stock worth $43,988,000 after acquiring an additional 1,435,096 shares during the period. Finally, Point72 Asset Management L.P. grew its holdings in shares of Clean Energy Fuels by 297.6% in the second quarter. Point72 Asset Management L.P. now owns 1,306,350 shares of the utilities provider’s stock worth $6,479,000 after acquiring an additional 977,788 shares during the period. Institutional investors own 49.94% of the company’s stock.

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.