Clean Energy Fuels (NASDAQ:CLNE) Stock Price Down 4.3%

Clean Energy Fuels Corp. (NASDAQ:CLNE - Get Free Report)'s stock price fell 4.3% during mid-day trading on Wednesday . The company traded as low as $2.64 and last traded at $2.64. 241,627 shares traded hands during trading, a decline of 85% from the average session volume of 1,634,363 shares. The stock had previously closed at $2.76.

Analyst Ratings Changes

A number of brokerages have issued reports on CLNE. Piper Sandler lowered their price objective on Clean Energy Fuels from $7.00 to $4.00 and set an "overweight" rating for the company in a research note on Thursday, April 18th. Stifel Nicolaus reduced their target price on Clean Energy Fuels from $8.00 to $6.50 and set a "buy" rating for the company in a report on Tuesday, January 23rd. Scotiabank reduced their target price on Clean Energy Fuels from $6.00 to $5.00 and set a "sector outperform" rating for the company in a report on Thursday, April 11th. Raymond James reduced their target price on 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. Finally, StockNews.com raised Clean Energy Fuels to a "sell" rating in a report on Monday. One investment analyst has rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $5.60.

Clean Energy Fuels Stock Down 3.6 %

The company has a fifty day simple moving average of $2.47 and a 200-day simple moving average of $3.06. The firm has a market cap of $593.87 million, a P/E ratio of -7.60 and a beta of 2.08. The company has a quick ratio of 2.80, a current ratio of 3.14 and a debt-to-equity ratio of 0.36.

Clean Energy Fuels (NASDAQ:CLNE - Get Free Report) last posted its earnings results on Tuesday, February 27th. The utilities provider reported ($0.08) EPS for the quarter, topping analysts' consensus estimates of ($0.10) by $0.02. The company had revenue of $106.86 million for the quarter, compared to the consensus estimate of $106.50 million. Clean Energy Fuels had a negative return on equity of 11.09% and a negative net margin of 19.98%. On average, equities analysts anticipate that Clean Energy Fuels Corp. will post -0.44 earnings per share for the current year.

Institutional Investors Weigh In On Clean Energy Fuels

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD raised its position in Clean Energy Fuels by 33.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 105,763 shares of the utilities provider's stock valued at $284,000 after purchasing an additional 26,356 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Clean Energy Fuels by 14.4% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 236,715 shares of the utilities provider's stock valued at $634,000 after buying an additional 29,861 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its stake in shares of Clean Energy Fuels by 30.6% during the first quarter. CANADA LIFE ASSURANCE Co now owns 44,569 shares of the utilities provider's stock valued at $119,000 after buying an additional 10,437 shares during the last quarter. Clearbridge Investments LLC grew its stake in shares of Clean Energy Fuels by 20.6% during the first quarter. Clearbridge Investments LLC now owns 432,622 shares of the utilities provider's stock valued at $1,159,000 after buying an additional 73,800 shares during the last quarter. Finally, Connors Investor Services Inc. grew its stake in Clean Energy Fuels by 5.1% in the first quarter. Connors Investor Services Inc. now owns 813,904 shares of the utilities provider's stock worth $2,181,000 after purchasing an additional 39,186 shares in the last quarter. 49.94% of the stock is currently 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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