Clean Energy Fuels (CLNE) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Clean Energy Fuels (NASDAQ:CLNE) from a hold rating to a sell rating in a research note released on Thursday.

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 have also recently issued research reports about the stock. BidaskClub raised shares of Clean Energy Fuels from a buy rating to a strong-buy rating in a research note on Thursday, August 23rd. ValuEngine raised shares of Clean Energy Fuels from a sell rating to a hold rating in a research note on Tuesday, October 2nd.

Shares of CLNE stock opened at $2.11 on Thursday. The firm has a market cap of $429.33 million, a PE ratio of -3.98 and a beta of 1.71. Clean Energy Fuels has a 1 year low of $1.31 and a 1 year high of $4.05. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.89 and a current ratio of 2.09.

Clean Energy Fuels (NASDAQ:CLNE) last released its earnings results on Wednesday, November 7th. The utilities provider reported ($0.05) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.05). The firm had revenue of $77.32 million for the quarter, compared to analyst estimates of $85.50 million. Clean Energy Fuels had a negative return on equity of 7.40% and a negative net margin of 11.49%. As a group, research analysts expect that Clean Energy Fuels will post -0.11 earnings per share for the current year.

A number of institutional investors have recently bought and sold shares of CLNE. Renaissance Technologies LLC grew its position in Clean Energy Fuels by 58.4% in the third quarter. Renaissance Technologies LLC now owns 6,810,632 shares of the utilities provider’s stock worth $17,708,000 after buying an additional 2,512,199 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Clean Energy Fuels by 12.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 10,464,354 shares of the utilities provider’s stock worth $27,207,000 after acquiring an additional 1,121,054 shares during the last quarter. Fuller & Thaler Asset Management Inc. acquired a new position in shares of Clean Energy Fuels in the 2nd quarter worth $2,545,000. BlackRock Inc. increased its stake in Clean Energy Fuels by 5.7% in the 2nd quarter. BlackRock Inc. now owns 8,826,283 shares of the utilities provider’s stock worth $32,568,000 after purchasing an additional 479,063 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in Clean Energy Fuels by 611.0% in the 3rd quarter. AQR Capital Management LLC now owns 318,826 shares of the utilities provider’s stock worth $829,000 after purchasing an additional 273,984 shares in the last quarter. Hedge funds and other institutional investors own 27.01% of the company’s stock.

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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