Clean Energy Fuels (NASDAQ:CLNE) Trading Down 5.1% - What's Next?

Key Points

• Clean Energy Fuels (NASDAQ:CLNE) shares fell by 5.1% on Monday, trading as low as $2.67, with a total trading volume significantly below its average.
• Analysts have set a consensus price target of $3.59 for Clean Energy Fuels, with recent ratings including a downgrade to "hold" from Jefferies Financial Group and an increased target from UBS Group.
• During the latest quarterly earnings report, Clean Energy Fuels exceeded revenue expectations with $102.61 million despite a negative net margin of 48.40%.

Clean Energy Fuels Corp. (NASDAQ:CLNE - Get Free Report) shares dropped 5.1% on Monday . The stock traded as low as $2.67 and last traded at $2.69. Approximately 730,451 shares were traded during trading, a decline of 71% from the average daily volume of 2,500,338 shares. The stock had previously closed at $2.83.

Analysts Set New Price Targets

CLNE has been the subject of several research reports. Jefferies Financial Group cut shares of Clean Energy Fuels from a "buy" rating to a "hold" rating and set a $2.20 price objective for the company. in a report on Friday, August 8th. UBS Group reiterated a "buy" rating and set a $2.75 target price (up from $2.00) on shares of Clean Energy Fuels in a research note on Tuesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $3.59.

Clean Energy Fuels Price Performance

The company has a current ratio of 2.83, a quick ratio of 2.51 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $592.08 million, a PE ratio of -3.00 and a beta of 2.69. The firm has a 50 day moving average price of $2.39 and a 200 day moving average price of $1.98.

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

Insider Transactions at Clean Energy Fuels

In related news, SVP Barclay Corbus sold 105,300 shares of the stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $2.63, for a total value of $276,939.00. Following the completion of the sale, the senior vice president directly owned 1,061,248 shares of the company's stock, valued at approximately $2,791,082.24. This represents a 9.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 4.30% of the company's stock.

Institutional Investors Weigh In On Clean Energy Fuels

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Global Alpha Capital Management Ltd. increased its stake in shares of Clean Energy Fuels by 31.9% in the first quarter. Global Alpha Capital Management Ltd. now owns 9,750,076 shares of the utilities provider's stock worth $15,113,000 after purchasing an additional 2,357,600 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Clean Energy Fuels in the 1st quarter worth $1,113,000. Nuveen LLC purchased a new stake in Clean Energy Fuels in the 1st quarter worth $1,005,000. GMT Capital Corp increased its stake in Clean Energy Fuels by 211.3% in the 1st quarter. GMT Capital Corp now owns 767,758 shares of the utilities provider's stock worth $1,190,000 after buying an additional 521,089 shares in the last quarter. Finally, Manatuck Hill Partners LLC purchased a new stake in shares of Clean Energy Fuels during the second quarter worth about $878,000. 49.94% of the stock is owned by hedge funds and other institutional investors.

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.

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