Clean Energy Fuels Corp. (NASDAQ:CLNE) Given Consensus Recommendation of “Buy” by Analysts

Clean Energy Fuels Corp. (NASDAQ:CLNE) has been assigned a consensus recommendation of “Buy” from the five research firms that are currently covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $5.60.

Several equities analysts have recently weighed in on CLNE shares. StockNews.com upgraded shares of Clean Energy Fuels to a “sell” rating in a report on Monday, May 13th. Piper Sandler reduced 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. Raymond James lowered their target price on Clean Energy Fuels from $6.00 to $5.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, April 3rd. Finally, Scotiabank reduced 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 report on Thursday, April 11th.

Institutional Investors Weigh In On Clean Energy Fuels

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Tidal Investments LLC purchased a new position in Clean Energy Fuels during the 1st quarter worth $33,000. Caxton Associates LP boosted its holdings in Clean Energy Fuels by 82.6% during the first quarter. Caxton Associates LP now owns 171,911 shares of the utilities provider’s stock worth $461,000 after purchasing an additional 77,744 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Clean Energy Fuels by 33.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 105,763 shares of the utilities provider’s stock worth $284,000 after purchasing an additional 26,356 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Clean Energy Fuels by 14.4% in the 1st 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. Finally, CANADA LIFE ASSURANCE Co lifted its position in shares of Clean Energy Fuels by 30.6% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 44,569 shares of the utilities provider’s stock worth $119,000 after buying an additional 10,437 shares in the last quarter. 49.94% of the stock is owned by hedge funds and other institutional investors.

Clean Energy Fuels Stock Up 8.9 %

Shares of Clean Energy Fuels stock opened at $2.44 on Friday. The firm has a market cap of $544.76 million, a price-to-earnings ratio of -6.97 and a beta of 2.15. The stock’s 50-day moving average is $2.63 and its 200 day moving average is $2.80. 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 has a one year low of $2.17 and a one year high of $5.25.

Clean Energy Fuels (NASDAQ:CLNE) last posted its quarterly earnings results 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. Clean Energy Fuels had a negative return on equity of 11.09% and a negative net margin of 19.98%. The firm had revenue of $103.71 million for the quarter, compared to analysts’ expectations of $106.63 million. Equities research analysts anticipate that Clean Energy Fuels will post -0.44 EPS for the current year.

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.