Clean Energy Fuels (NASDAQ:CLNE) Stock Price Down 6.2% - Time to Sell?

Key Points

• Shares of Clean Energy Fuels fell 6.2% to about $2.33 on Wednesday, with mid-day volume of ~258,816 shares—roughly 80% below the stock's average session volume.
• Analyst sentiment is mixed: Weiss Ratings reissued a sell (D−), while the MarketBeat consensus is a Hold with an average price target of $3.49.
• Key fundamentals: market cap ≈ $532M, negative P/E (−2.43), 50-day/200-day moving averages near $2.37/$2.41, and about 49.9% institutional ownership.

Shares of Clean Energy Fuels Corp. (NASDAQ:CLNE - Get Free Report) fell 6.2% during trading on Wednesday . The company traded as low as $2.34 and last traded at $2.3250. 258,816 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 1,295,400 shares. The stock had previously closed at $2.48.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a "sell (d-)" rating on shares of Clean Energy Fuels in a research report on Wednesday, January 21st. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $3.49.

Clean Energy Fuels Stock Performance

The company has a 50-day simple moving average of $2.37 and a two-hundred day simple moving average of $2.41. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.03 and a current ratio of 2.32. The firm has a market capitalization of $532.12 million, a P/E ratio of -2.43 and a beta of 2.15.

Institutional Investors Weigh In On Clean Energy Fuels

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CLNE. NewEdge Advisors LLC raised its holdings in Clean Energy Fuels by 1,419,900.0% in the second quarter. NewEdge Advisors LLC now owns 14,200 shares of the utilities provider's stock worth $28,000 after purchasing an additional 14,199 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of Clean Energy Fuels by 140.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 14,971 shares of the utilities provider's stock worth $29,000 after buying an additional 8,738 shares during the period. BNP Paribas Financial Markets increased its stake in shares of Clean Energy Fuels by 54.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 14,844 shares of the utilities provider's stock worth $29,000 after acquiring an additional 5,254 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in shares of Clean Energy Fuels in the 3rd quarter worth about $31,000. Finally, Mercer Global Advisors Inc. ADV purchased a new position in Clean Energy Fuels during the 4th quarter valued at about $31,000. 49.94% of the stock is owned by hedge funds and other institutional investors.

About Clean Energy Fuels

Clean Energy Fuels Corp., founded in 1997 and headquartered in Newport Beach, California, is a leading provider of natural gas and renewable natural gas (RNG) fuel for the transportation sector. The company operates a network of more than 500 fueling stations across the United States and Canada, supplying compressed natural gas (CNG), liquefied natural gas (LNG) and RNG derived from organic waste streams. Clean Energy serves a diverse customer base that includes commercial trucking fleets, public transit agencies, refuse haulers and municipal vehicle operators.

In addition to fuel supply, Clean Energy offers turnkey station design, construction and ongoing maintenance services, as well as fueling hardware and project management.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.