Clean Energy Fuels (NASDAQ:CLNE) Trading Down 6.9% - Here's Why

Key Points

• Shares fell 6.9% during mid-day trading to as low as $2.37 (last $2.3650), with about 710,797 shares traded—roughly 45% below the stock's average daily volume.
• Analyst sentiment is cautious: Weiss Ratings reiterated a "sell (D-)" while the five-analyst consensus is an average "Hold" with a mean target price of $3.49.
• Business and fundamentals: Clean Energy Fuels operates 500+ CNG/LNG/RNG fueling stations, has a market cap of about $515 million, a negative P/E (-2.37) and modest leverage (debt-to-equity 0.41).

Shares of Clean Energy Fuels Corp. (NASDAQ:CLNE - Get Free Report) dropped 6.9% during mid-day trading on Wednesday . The company traded as low as $2.37 and last traded at $2.3650. Approximately 710,797 shares were traded during trading, a decline of 45% from the average daily volume of 1,299,665 shares. The stock had previously closed at $2.54.

Analyst Ratings Changes

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

Clean Energy Fuels Stock Performance

The company has a debt-to-equity ratio of 0.41, a current ratio of 2.32 and a quick ratio of 2.03. The firm has a market cap of $514.57 million, a price-to-earnings ratio of -2.37 and a beta of 2.03. The company has a fifty day moving average price of $2.40 and a two-hundred day moving average price of $2.40.

Institutional Trading of Clean Energy Fuels

Institutional investors have recently modified their holdings of the company. NewEdge Advisors LLC lifted its holdings in shares of 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 valued at $28,000 after buying an additional 14,199 shares during the period. BNP Paribas Financial Markets raised its position in shares of Clean Energy Fuels by 54.8% during the second quarter. BNP Paribas Financial Markets now owns 14,844 shares of the utilities provider's stock worth $29,000 after purchasing an additional 5,254 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Clean Energy Fuels during the third quarter worth $31,000. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Clean Energy Fuels during the fourth quarter worth $31,000. Finally, CWM LLC raised its position in shares of Clean Energy Fuels by 40.3% during the fourth quarter. CWM LLC now owns 16,683 shares of the utilities provider's stock worth $35,000 after purchasing an additional 4,791 shares during the period. Institutional investors and hedge funds own 49.94% of the company's stock.

Clean Energy Fuels Company Profile

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.

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