Clean Energy Fuels' (CLNE) Buy Rating Reiterated at UBS Group

Key Points

• UBS Group raised its price target for Clean Energy Fuels (CLNE) from $2.00 to $2.75, indicating a potential upside of 24.72% from the current stock price.
• The stock experienced a 7.0% increase, trading at $2.21, with a market capitalization of approximately $483.53 million.
• Analyst ratings for CLNE include one "sell," one "hold," three "buy," and one "strong buy," resulting in a consensus rating of "Moderate Buy" and an average target price of $3.59.

UBS Group reissued their buy rating on shares of Clean Energy Fuels (NASDAQ:CLNE - Free Report) in a report issued on Tuesday, MarketBeat Ratings reports. UBS Group currently has a $2.75 price target on the utilities provider's stock, up from their prior price target of $2.00.

Several other equities research analysts also recently commented on the stock. Jefferies Financial Group downgraded shares of Clean Energy Fuels from a "buy" rating to a "hold" rating and set a $2.20 target price on the stock. in a research report on Friday, August 8th. Lake Street Capital cut their target price on shares of Clean Energy Fuels from $22.00 to $5.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $3.59.

Clean Energy Fuels Price Performance

Shares of CLNE traded up $0.12 during mid-day trading on Tuesday, reaching $2.40. The company had a trading volume of 2,737,350 shares, compared to its average volume of 1,916,084. The company's 50 day simple moving average is $2.06 and its 200 day simple moving average is $2.01. Clean Energy Fuels has a 1-year low of $1.30 and a 1-year high of $3.67. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.51 and a current ratio of 2.83. The company has a market capitalization of $526.30 million, a price-to-earnings ratio of -2.67 and a beta of 2.65.

Clean Energy Fuels (NASDAQ:CLNE - Get Free Report) last posted its earnings results on Thursday, August 7th. The utilities provider reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.06. Clean Energy Fuels had a negative net margin of 48.40% and a negative return on equity of 27.98%. The business had revenue of $102.61 million for the quarter, compared to the consensus estimate of $94.73 million. During the same period last year, the company earned $0.01 EPS. The firm's revenue was up 4.8% compared to the same quarter last year. Analysts expect that Clean Energy Fuels will post -0.33 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Man Group plc bought a new stake in shares of Clean Energy Fuels in the 2nd quarter valued at $297,000. Manatuck Hill Partners LLC bought a new stake in shares of Clean Energy Fuels in the 2nd quarter valued at $878,000. Engineers Gate Manager LP bought a new stake in shares of Clean Energy Fuels in the 2nd quarter valued at $68,000. BNP Paribas Financial Markets increased its stake in shares of Clean Energy Fuels by 54.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 14,844 shares of the utilities provider's stock valued at $29,000 after acquiring an additional 5,254 shares in the last quarter. Finally, Bridgeway Capital Management LLC increased its stake in shares of Clean Energy Fuels by 19.8% in the 2nd quarter. Bridgeway Capital Management LLC now owns 1,166,587 shares of the utilities provider's stock valued at $2,275,000 after acquiring an additional 192,817 shares in the last quarter. Institutional investors and hedge funds 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.