Analysts Set Clean Energy Fuels Corp. (NASDAQ:CLNE) Price Target at $3.75

Key Points

• Clean Energy Fuels Corp. (NASDAQ:CLNE) has received an average analyst rating of "Buy", with a one-year price target of $3.75.
• Recent trading saw Clean Energy Fuels' share price increase to $2.40, and the company reported quarterly revenue of $102.61 million, exceeding analyst expectations.
• Institutional investors have increased their stakes in Clean Energy Fuels, with 49.94% of the stock now owned by such investors.

Shares of Clean Energy Fuels Corp. (NASDAQ:CLNE - Get Free Report) have earned an average rating of "Buy" from the five ratings firms that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $3.59.

Several brokerages have commented on CLNE. Jefferies Financial Group downgraded Clean Energy Fuels from a "buy" rating to a "hold" rating and set a $2.20 price target on the stock. in a report on Friday. UBS Group reiterated a "buy" rating and issued a $2.75 price objective (up from $2.00) on shares of Clean Energy Fuels in a research report on Tuesday. Finally, Lake Street Capital decreased their price objective on Clean Energy Fuels from $22.00 to $5.00 and set a "buy" rating for the company in a research report on Friday, May 9th.

Institutional Investors Weigh In On Clean Energy Fuels

A number of large investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. increased its position in shares of Clean Energy Fuels by 140.2% in the second quarter. PNC Financial Services Group Inc. now owns 14,971 shares of the utilities provider's stock worth $29,000 after purchasing an additional 8,738 shares during the period. Two Sigma Securities LLC bought a new stake in Clean Energy Fuels in the fourth quarter worth approximately $31,000. Balyasny Asset Management L.P. bought a new stake in Clean Energy Fuels in the fourth quarter worth approximately $31,000. Tower Research Capital LLC TRC increased its holdings in shares of Clean Energy Fuels by 56.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 13,584 shares of the utilities provider's stock valued at $34,000 after acquiring an additional 4,894 shares in the last quarter. Finally, Aigen Investment Management LP purchased a new position in shares of Clean Energy Fuels during the first quarter valued at approximately $36,000. Institutional investors own 49.94% of the company's stock.

Clean Energy Fuels Stock Performance

CLNE stock traded up $0.24 during trading on Friday, hitting $2.30. 2,431,237 shares of the company's stock traded hands, compared to its average volume of 2,703,564. The stock has a fifty day moving average price of $2.02 and a two-hundred day moving average price of $2.02. The stock has a market capitalization of $504.37 million, a price-to-earnings ratio of -2.56 and a beta of 2.65. The company has a quick ratio of 2.51, a current ratio of 2.83 and a debt-to-equity ratio of 0.47. Clean Energy Fuels has a 52 week low of $1.30 and a 52 week high of $3.67.

Clean Energy Fuels (NASDAQ:CLNE - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The utilities provider reported ($0.01) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.07) by $0.06. The business had revenue of $102.61 million during the quarter, compared to analyst estimates of $94.73 million. Clean Energy Fuels had a negative net margin of 48.40% and a negative return on equity of 27.98%. The firm's revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.01 earnings per share. As a group, equities analysts anticipate that Clean Energy Fuels will post -0.33 EPS for the current fiscal year.

About Clean Energy Fuels

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.