Clean Energy Fuels (NASDAQ:CLNE) Shares Gap Down to $2.43

Shares of Clean Energy Fuels Corp. (NASDAQ:CLNE) gapped down prior to trading on Friday . The stock had previously closed at $2.43, but opened at $2.37. Clean Energy Fuels shares last traded at $2.36, with a volume of 95,206 shares traded.

Analysts Set New Price Targets

A number of analysts recently commented on CLNE shares. Scotiabank lowered their target price on shares of Clean Energy Fuels from $6.00 to $5.00 and set a “sector outperform” rating for the company in a research note on Thursday, April 11th. StockNews.com upgraded shares of Clean Energy Fuels to a “sell” rating in a research note on Monday, May 13th. Raymond James lowered their target price on shares of Clean Energy Fuels from $6.00 to $5.00 and set a “strong-buy” rating for the company in a research note on Wednesday, April 3rd. Finally, Piper Sandler decreased their price objective on shares of 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. One 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 company. According to data from MarketBeat, Clean Energy Fuels presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.60.

Clean Energy Fuels Price Performance

The firm has a market cap of $533.59 million, a PE ratio of -6.74 and a beta of 2.15. The stock’s fifty day moving average price is $2.64 and its 200-day moving average price is $2.85. 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 released its 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. The business had revenue of $103.71 million during the quarter, compared to analyst estimates of $106.63 million. Clean Energy Fuels had a negative net margin of 19.98% and a negative return on equity of 11.09%. As a group, equities analysts expect that Clean Energy Fuels Corp. will post -0.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CLNE. Prio Wealth Limited Partnership acquired a new position in Clean Energy Fuels in the fourth quarter valued at about $38,000. Sunbelt Securities Inc. lifted its position in Clean Energy Fuels by 1,052.6% in the third quarter. Sunbelt Securities Inc. now owns 10,950 shares of the utilities provider’s stock valued at $42,000 after buying an additional 10,000 shares during the last quarter. Tidal Investments LLC acquired a new position in Clean Energy Fuels in the first quarter valued at about $33,000. Grassi Investment Management acquired a new position in Clean Energy Fuels in the first quarter valued at about $36,000. Finally, Pinnacle Wealth Planning Services Inc. acquired a new position in Clean Energy Fuels in the first quarter valued at about $52,000. Institutional investors and hedge funds 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.