Clean Energy Fuels (NASDAQ:CLNE) Price Target Cut to $4.00 by Analysts at Piper Sandler

Clean Energy Fuels (NASDAQ:CLNE - Free Report) had its target price decreased by Piper Sandler from $7.00 to $4.00 in a report issued on Thursday morning, Benzinga reports. Piper Sandler currently has an overweight rating on the utilities provider's stock.

Other analysts also recently issued reports about the stock. Scotiabank lowered their price target on shares of Clean Energy Fuels from $6.00 to $5.00 and set a sector outperform rating for the company in a research note on Thursday, April 11th. StockNews.com raised shares of Clean Energy Fuels to a sell rating in a research note on Tuesday, April 9th. Raymond James lowered their price objective on shares of Clean Energy Fuels from $6.00 to $5.00 and set a strong-buy rating for the company in a research note on Wednesday, April 3rd. Finally, Stifel Nicolaus lowered their price objective on shares of Clean Energy Fuels from $8.00 to $6.50 and set a buy rating for the company in a research note on Tuesday, January 23rd. One investment analyst has rated the stock with a sell rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $5.60.

Clean Energy Fuels Price Performance

Shares of CLNE traded down $0.05 during mid-day trading on Thursday, reaching $2.24. 1,366,330 shares of the stock traded hands, compared to its average volume of 1,659,761. The firm has a fifty day moving average price of $2.71 and a 200 day moving average price of $3.25. The company has a market cap of $500.10 million, a price-to-earnings ratio of -5.20 and a beta of 2.06. The company has a current ratio of 2.87, a quick ratio of 2.59 and a debt-to-equity ratio of 0.36. Clean Energy Fuels has a 1 year low of $2.21 and a 1 year high of $5.25.

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

Hedge Funds Weigh In On Clean Energy Fuels

A number of large investors have recently made changes to their positions in CLNE. Grassi Investment Management purchased a new stake in Clean Energy Fuels in the 1st quarter valued at about $36,000. Vanguard Group Inc. lifted its position in shares of Clean Energy Fuels by 3.7% in the 4th quarter. Vanguard Group Inc. now owns 10,001,030 shares of the utilities provider's stock worth $38,304,000 after purchasing an additional 357,860 shares during the period. Virtu Financial LLC bought a new position in shares of Clean Energy Fuels during the 4th quarter worth approximately $108,000. Legal & General Group Plc raised its stake in shares of Clean Energy Fuels by 3.2% during the 4th quarter. Legal & General Group Plc now owns 153,933 shares of the utilities provider's stock worth $590,000 after acquiring an additional 4,804 shares in the last quarter. Finally, Barclays PLC raised its stake in shares of Clean Energy Fuels by 62.6% during the 4th quarter. Barclays PLC now owns 535,107 shares of the utilities provider's stock worth $2,049,000 after acquiring an additional 206,100 shares in the last quarter. 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.