Clean Energy Fuels (NASDAQ:CLNE) Lowered to “Sell” at Zacks Investment Research

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Clean Energy Fuels (NASDAQ:CLNE) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a research note issued on Tuesday, Zacks.com reports.

According to Zacks, “CLEAN ENERGY FUELS, based in Seal Beach, Calif., is the leading provider of natural gas (CNG and LNG) for transportation in North America. It has a broad customer base in the refuse, transit, ports, shuttle, taxi, intrastate and interstate trucking, airport and municipal fleet markets,across the United States and Canada. “

Other equities analysts also recently issued reports about the stock. BidaskClub downgraded shares of Clean Energy Fuels from a “hold” rating to a “sell” rating in a report on Monday, November 25th. ValuEngine upgraded shares of Clean Energy Fuels from a “sell” rating to a “hold” rating in a research note on Friday, November 8th.

Shares of CLNE stock traded down $0.06 during trading hours on Tuesday, reaching $1.86. The company had a trading volume of 516,091 shares, compared to its average volume of 800,984. The company has a market cap of $380.78 million, a price-to-earnings ratio of -31.00 and a beta of 1.97. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.78 and a quick ratio of 1.52. Clean Energy Fuels has a 12 month low of $1.61 and a 12 month high of $3.47. The business has a fifty day simple moving average of $2.14 and a 200-day simple moving average of $2.34.

Clean Energy Fuels (NASDAQ:CLNE) last announced its quarterly earnings results on Tuesday, November 12th. The utilities provider reported ($0.02) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.02). The business had revenue of $74.43 million during the quarter. Clean Energy Fuels had a negative return on equity of 3.32% and a negative net margin of 4.30%. On average, equities research analysts expect that Clean Energy Fuels will post -0.12 earnings per share for the current year.

A number of hedge funds have recently modified their holdings of CLNE. JPMorgan Chase & Co. increased its stake in Clean Energy Fuels by 7.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 235,974 shares of the utilities provider’s stock valued at $609,000 after buying an additional 16,106 shares during the last quarter. Commonwealth Equity Services LLC increased its position in shares of Clean Energy Fuels by 20.8% during the third quarter. Commonwealth Equity Services LLC now owns 53,396 shares of the utilities provider’s stock valued at $110,000 after acquiring an additional 9,200 shares during the last quarter. GSA Capital Partners LLP bought a new stake in Clean Energy Fuels during the second quarter worth $229,000. Creative Planning lifted its holdings in Clean Energy Fuels by 5.2% during the second quarter. Creative Planning now owns 384,087 shares of the utilities provider’s stock worth $1,026,000 after acquiring an additional 18,833 shares during the period. Finally, Trellus Management Company LLC purchased a new position in Clean Energy Fuels in the second quarter worth $187,000. 28.78% of the stock is owned by institutional investors and hedge funds.

About Clean Energy Fuels

Clean Energy Fuels Corp. provides natural gas as an alternative fuel for vehicle fleets in the United States and Canada. The company supplies renewable natural gas (RNG), compressed natural gas (CNG), and liquefied natural gas (LNG) for light, medium, and heavy-duty vehicles; and offers operation and maintenance services for public and private vehicle fleet customer stations.

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