Clean Energy Fuels (NASDAQ:CLNE) Price Target Cut to $5.00

Clean Energy Fuels (NASDAQ:CLNE - Get Free Report) had its price target dropped by investment analysts at Scotiabank from $6.00 to $5.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a "sector outperform" rating on the utilities provider's stock. Scotiabank's price objective indicates a potential upside of 110.08% from the company's current price.

Several other research analysts also recently weighed in on CLNE. Raymond James dropped their target price on shares of Clean Energy Fuels from $6.00 to $5.00 and set a "strong-buy" rating for the company in a report on Wednesday, April 3rd. Stifel Nicolaus dropped their target price on shares of Clean Energy Fuels from $8.00 to $6.50 and set a "buy" rating for the company in a report on Tuesday, January 23rd. Finally, StockNews.com raised shares of Clean Energy Fuels to a "sell" rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Clean Energy Fuels presently has a consensus rating of "Moderate Buy" and a consensus target price of $6.40.

Clean Energy Fuels Stock Performance

Shares of NASDAQ:CLNE traded down $0.10 during midday trading on Thursday, hitting $2.38. The company had a trading volume of 2,268,421 shares, compared to its average volume of 1,650,965. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.87 and a quick ratio of 2.59. The company has a market cap of $531.37 million, a price-to-earnings ratio of -5.36 and a beta of 2.06. Clean Energy Fuels has a 12-month low of $2.32 and a 12-month high of $5.25. The company has a fifty day moving average of $2.76 and a two-hundred day moving average of $3.29.

Clean Energy Fuels (NASDAQ:CLNE - Get Free Report) last posted its quarterly earnings data on Tuesday, February 27th. The utilities provider reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.02. The firm had revenue of $106.86 million during the quarter, compared to analyst estimates of $106.50 million. Clean Energy Fuels had a negative return on equity of 14.05% and a negative net margin of 23.40%. On average, equities research analysts expect that Clean Energy Fuels will post -0.48 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Raymond James & Associates raised its position in Clean Energy Fuels by 48.7% in the 1st quarter. Raymond James & Associates now owns 65,322 shares of the utilities provider's stock worth $519,000 after purchasing an additional 21,391 shares during the period. Bank of New York Mellon Corp raised its position in Clean Energy Fuels by 5.0% in the 1st quarter. Bank of New York Mellon Corp now owns 848,159 shares of the utilities provider's stock worth $6,734,000 after purchasing an additional 40,120 shares during the period. Cetera Advisor Networks LLC increased its position in shares of Clean Energy Fuels by 16.7% during the first quarter. Cetera Advisor Networks LLC now owns 33,376 shares of the utilities provider's stock worth $265,000 after acquiring an additional 4,764 shares during the period. MetLife Investment Management LLC increased its position in shares of Clean Energy Fuels by 55.0% during the first quarter. MetLife Investment Management LLC now owns 83,879 shares of the utilities provider's stock worth $666,000 after acquiring an additional 29,759 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Clean Energy Fuels by 1.6% during the first quarter. Dimensional Fund Advisors LP now owns 7,272,602 shares of the utilities provider's stock worth $57,745,000 after acquiring an additional 115,935 shares during the period. Institutional investors own 49.94% of the company's stock.

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.