Clean Energy Fuels (NASDAQ:CLNE) Shares Up 8%

Clean Energy Fuels Corp. (NASDAQ:CLNE) was up 8% during trading on Friday . The stock traded as high as $2.44 and last traded at $2.43. Approximately 927,227 shares traded hands during trading, a decline of 43% from the average daily volume of 1,627,159 shares. The stock had previously closed at $2.25.

Analyst Upgrades and Downgrades

Several research analysts have commented on CLNE shares. Stifel Nicolaus lowered their price target on shares of Clean Energy Fuels from $8.00 to $6.50 and set a “buy” rating for the company in a report on Tuesday, January 23rd. Piper Sandler reduced their price objective on shares of Clean Energy Fuels from $7.00 to $4.00 and set an “overweight” rating for the company in a research report on Thursday, April 18th. StockNews.com upgraded shares of Clean Energy Fuels to a “sell” rating in a research report on Tuesday, April 9th. Raymond James reduced their price objective on shares of 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. Finally, Scotiabank reduced their price objective on shares of Clean Energy Fuels from $6.00 to $5.00 and set a “sector outperform” rating for the company in a research report on Thursday, April 11th. One analyst has rated the stock with a sell rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $5.60.

Clean Energy Fuels Stock Performance

The firm’s 50-day moving average is $2.62 and its 200 day moving average is $3.19. The stock has a market cap of $542.52 million, a PE ratio of -5.41 and a beta of 2.06. 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 released its quarterly earnings results on Tuesday, February 27th. The utilities provider reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.02. Clean Energy Fuels had a negative net margin of 23.40% and a negative return on equity of 14.05%. The firm had revenue of $106.86 million during the quarter, compared to the consensus estimate of $106.50 million. As a group, research analysts anticipate that Clean Energy Fuels Corp. will post -0.44 EPS for the current year.

Hedge Funds Weigh In On Clean Energy Fuels

A number of large investors have recently bought and sold shares of the company. Grassi Investment Management purchased a new position in Clean Energy Fuels during the 1st quarter worth $36,000. RPO LLC purchased a new position in Clean Energy Fuels during the 4th quarter worth $84,000. Aigen Investment Management LP purchased a new position in Clean Energy Fuels during the 4th quarter worth $324,000. Clearbridge Investments LLC raised its position in Clean Energy Fuels by 5.0% during the 4th quarter. Clearbridge Investments LLC now owns 358,822 shares of the utilities provider’s stock worth $1,374,000 after buying an additional 17,000 shares during the last quarter. Finally, Brown Advisory Inc. grew its stake in shares of Clean Energy Fuels by 24.3% during the 4th quarter. Brown Advisory Inc. now owns 49,736 shares of the utilities provider’s stock worth $190,000 after purchasing an additional 9,736 shares during the period. Hedge funds and other 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.