Clean Energy Fuels (NASDAQ:CLNE) Shares Down 6%

Clean Energy Fuels Corp. (NASDAQ:CLNE)’s stock price fell 6% during trading on Monday . The company traded as low as $2.51 and last traded at $2.51. 702,842 shares changed hands during mid-day trading, a decline of 58% from the average session volume of 1,660,608 shares. The stock had previously closed at $2.67.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CLNE shares. Piper Sandler dropped their price objective on shares of Clean Energy Fuels from $7.00 to $4.00 and set an “overweight” rating on the stock in a report on Thursday, April 18th. StockNews.com upgraded Clean Energy Fuels to a “sell” rating in a report on Monday, May 13th. Raymond James decreased their price objective 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, Scotiabank cut their target price on Clean Energy Fuels from $6.00 to $5.00 and set a “sector outperform” rating on the stock in a report on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Clean Energy Fuels has a consensus rating of “Moderate Buy” and a consensus target price of $5.60.

Clean Energy Fuels Stock Down 5.6 %

The stock has a fifty day moving average price of $2.62 and a two-hundred day moving average price of $2.88. The company has a market cap of $562.62 million, a P/E ratio of -7.26 and a beta of 2.13. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.14 and a quick ratio of 2.80.

Clean Energy Fuels (NASDAQ:CLNE) last posted its quarterly earnings data on Thursday, May 9th. The utilities provider reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.05. The firm had revenue of $103.71 million for the quarter, compared to the consensus estimate of $106.63 million. Clean Energy Fuels had a negative net margin of 19.98% and a negative return on equity of 11.09%. On average, research analysts expect that Clean Energy Fuels Corp. will post -0.44 EPS for the current year.

Hedge Funds Weigh In On Clean Energy Fuels

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Tidal Investments LLC purchased a new stake in shares of Clean Energy Fuels during the first quarter valued at approximately $33,000. Grassi Investment Management bought a new position in Clean Energy Fuels in the 1st quarter valued at $36,000. Prio Wealth Limited Partnership purchased a new stake in shares of Clean Energy Fuels during the 4th quarter valued at $38,000. Sunbelt Securities Inc. boosted its holdings in shares of Clean Energy Fuels by 1,052.6% in the 3rd quarter. Sunbelt Securities Inc. now owns 10,950 shares of the utilities provider’s stock worth $42,000 after buying an additional 10,000 shares during the last quarter. Finally, Pinnacle Wealth Planning Services Inc. bought a new position in Clean Energy Fuels during the first quarter valued at about $52,000. Hedge funds and other institutional investors own 49.94% of the company’s stock.

Clean Energy Fuels Company Profile

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.