Clean Energy Fuels (NASDAQ:CLNE) Downgraded to Hold Rating by Jefferies Financial Group

Key Points

• Clean Energy Fuels has been downgraded by Jefferies Financial Group from a "buy" rating to a "hold" rating, reflecting a more cautious outlook on the stock.
• Several analysts have adjusted their price targets for the stock, with Lake Street Capital reducing theirs from $22.00 to $5.00, indicating significant revisions in market expectations.
• The stock recently saw a 16.9% increase, closing at $2.39, with an average rating of "Moderate Buy" and a consensus price target of $3.75 among analysts.

Clean Energy Fuels (NASDAQ:CLNE - Get Free Report) was downgraded by investment analysts at Jefferies Financial Group from a "buy" rating to a "hold" rating in a research note issued to investors on Friday, MarketBeat reports. They currently have a $2.20 target price on the utilities provider's stock. Jefferies Financial Group's target price suggests a potential downside of 4.35% from the stock's current price.

Several other research analysts also recently commented on the stock. Lake Street Capital decreased their target price on shares of Clean Energy Fuels from $22.00 to $5.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. UBS Group set a $2.00 target price on Clean Energy Fuels and gave the company a "buy" rating in a report on Sunday, April 13th. Finally, Scotiabank reduced their price objective on shares of Clean Energy Fuels from $6.00 to $4.00 and set a "sector outperform" rating on the stock in a research report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $3.59.

Clean Energy Fuels Price Performance

Shares of NASDAQ CLNE traded up $0.24 during mid-day trading on Friday, reaching $2.30. 2,431,237 shares of the company were exchanged, compared to its average volume of 2,703,564. Clean Energy Fuels has a 52 week low of $1.30 and a 52 week high of $3.67. The company's 50 day moving average price is $2.02 and its 200 day moving average price is $2.02. The stock has a market capitalization of $504.37 million, a PE 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 (NASDAQ:CLNE - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The utilities provider reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.06. Clean Energy Fuels had a negative net margin of 48.40% and a negative return on equity of 27.98%. The firm had revenue of $102.61 million for the quarter, compared to the consensus estimate of $94.73 million. During the same period last year, the firm posted $0.01 earnings per share. The business's revenue was up 4.8% compared to the same quarter last year. Sell-side analysts forecast that Clean Energy Fuels will post -0.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Global Alpha Capital Management Ltd. raised its position in shares of Clean Energy Fuels by 31.9% during the 1st quarter. Global Alpha Capital Management Ltd. now owns 9,750,076 shares of the utilities provider's stock valued at $15,113,000 after purchasing an additional 2,357,600 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Clean Energy Fuels in the 1st quarter valued at $1,113,000. Coppell Advisory Solutions LLC raised its position in shares of Clean Energy Fuels by 1,635.8% during the 4th quarter. Coppell Advisory Solutions LLC now owns 734,640 shares of the utilities provider's stock valued at $1,829,000 after buying an additional 692,318 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Clean Energy Fuels during the 1st quarter valued at about $1,005,000. Finally, GMT Capital Corp raised its position in shares of Clean Energy Fuels by 211.3% during the 1st quarter. GMT Capital Corp now owns 767,758 shares of the utilities provider's stock valued at $1,190,000 after buying an additional 521,089 shares in the last quarter. 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.