Clean Energy Fuels (NASDAQ:CLNE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.

According to Zacks, “CLEAN ENERGY FUELS, based in Seal Beach, Calif., is the leading provider of natural gas (CNG and LNG) for transportation in North America. It has a broad customer base in the refuse, transit, ports, shuttle, taxi, intrastate and interstate trucking, airport and municipal fleet markets,across the United States and Canada. “

Other research analysts have also issued reports about the stock. BidaskClub lowered shares of Clean Energy Fuels from a “sell” rating to a “strong sell” rating in a research report on Tuesday. ValuEngine lowered shares of Clean Energy Fuels from a “sell” rating to a “strong sell” rating in a research report on Tuesday, November 7th.

Clean Energy Fuels (NASDAQ:CLNE) traded up $0.03 during trading on Tuesday, hitting $2.09. 689,952 shares of the company’s stock were exchanged, compared to its average volume of 980,600. Clean Energy Fuels has a 12-month low of $1.96 and a 12-month high of $3.12. The company has a market capitalization of $315.77, a price-to-earnings ratio of -5.65 and a beta of 1.85. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.52 and a quick ratio of 3.05.

Clean Energy Fuels (NASDAQ:CLNE) last released its quarterly earnings results on Thursday, November 2nd. The utilities provider reported ($0.61) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.49). Clean Energy Fuels had a negative net margin of 15.47% and a negative return on equity of 10.52%. The firm had revenue of $81.80 million for the quarter, compared to the consensus estimate of $85.43 million. During the same period in the previous year, the business earned ($0.08) earnings per share. The firm’s revenue for the quarter was down 15.7% on a year-over-year basis. sell-side analysts forecast that Clean Energy Fuels will post -0.44 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlueCrest Capital Management Ltd lifted its position in shares of Clean Energy Fuels by 279.1% during the second quarter. BlueCrest Capital Management Ltd now owns 45,868 shares of the utilities provider’s stock valued at $117,000 after purchasing an additional 33,768 shares in the last quarter. Voya Investment Management LLC lifted its position in shares of Clean Energy Fuels by 44.0% during the second quarter. Voya Investment Management LLC now owns 54,979 shares of the utilities provider’s stock valued at $140,000 after purchasing an additional 16,808 shares in the last quarter. OxFORD Asset Management LLP lifted its position in shares of Clean Energy Fuels by 123.6% during the second quarter. OxFORD Asset Management LLP now owns 58,068 shares of the utilities provider’s stock valued at $147,000 after purchasing an additional 32,096 shares in the last quarter. KBC Group NV lifted its position in shares of Clean Energy Fuels by 24.4% during the second quarter. KBC Group NV now owns 61,525 shares of the utilities provider’s stock valued at $156,000 after purchasing an additional 12,087 shares in the last quarter. Finally, Parametric Portfolio Associates LLC lifted its position in shares of Clean Energy Fuels by 147.3% during the second quarter. Parametric Portfolio Associates LLC now owns 75,095 shares of the utilities provider’s stock valued at $191,000 after purchasing an additional 44,728 shares in the last quarter. 35.47% of the stock is currently owned by institutional investors.

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Clean Energy Fuels Company Profile

Clean Energy Fuels Corp. (Clean Energy) is a provider of natural gas as an alternative fuel for vehicle fleets in the United States and Canada. The Company is engaged in supplying compressed natural gas (CNG), liquefied natural gas (LNG) and renewable natural gas (RNG) for light, medium and heavy-duty vehicles, and providing operation and maintenance (O&M) services for natural gas fueling stations.

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