Clean Energy Fuels (CLNE) Upgraded by Zacks Investment Research to “Buy”

Clean Energy Fuels (NASDAQ:CLNE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The brokerage currently has a $2.25 target price on the utilities provider’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 0.45% from the stock’s previous close.

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. “

Separately, ValuEngine raised shares of Clean Energy Fuels from a “sell” rating to a “hold” rating in a report on Wednesday, May 2nd.

Shares of Clean Energy Fuels opened at $2.24 on Wednesday, according to MarketBeat Ratings. Clean Energy Fuels has a 12 month low of $2.06 and a 12 month high of $2.13. The company has a market cap of $312.70 million, a PE ratio of -4.23 and a beta of 1.39. The company has a current ratio of 1.58, a quick ratio of 1.41 and a debt-to-equity ratio of 0.27.

Clean Energy Fuels (NASDAQ:CLNE) last announced its earnings results on Thursday, May 10th. The utilities provider reported $0.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.01. Clean Energy Fuels had a negative net margin of 36.13% and a negative return on equity of 26.23%. The company had revenue of $102.40 million for the quarter. equities analysts predict that Clean Energy Fuels will post -0.09 EPS for the current year.

In other news, Director John S. Herrington acquired 140,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 15th. The shares were acquired at an average cost of $1.41 per share, with a total value of $197,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 13.20% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its stake in Clean Energy Fuels by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 8,723,418 shares of the utilities provider’s stock valued at $14,394,000 after acquiring an additional 31,346 shares during the last quarter. BlackRock Inc. increased its stake in Clean Energy Fuels by 1.3% in the fourth quarter. BlackRock Inc. now owns 8,402,543 shares of the utilities provider’s stock valued at $17,057,000 after acquiring an additional 110,378 shares during the last quarter. Northern Trust Corp increased its stake in Clean Energy Fuels by 1.9% in the first quarter. Northern Trust Corp now owns 1,584,418 shares of the utilities provider’s stock valued at $2,614,000 after acquiring an additional 30,279 shares during the last quarter. Millennium Management LLC increased its stake in Clean Energy Fuels by 27.6% in the first quarter. Millennium Management LLC now owns 1,282,388 shares of the utilities provider’s stock valued at $2,116,000 after acquiring an additional 277,147 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Clean Energy Fuels by 6.0% in the fourth quarter. Geode Capital Management LLC now owns 1,079,026 shares of the utilities provider’s stock valued at $2,190,000 after acquiring an additional 61,046 shares during the last quarter. 32.50% of the stock is currently owned by institutional investors and hedge funds.

Clean Energy Fuels Company Profile

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 provides operation and maintenance services for vehicle fleet customer stations.

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