Clean Energy Fuels (NASDAQ:CLNE) Shares Down 2.9%

Clean Energy Fuels Corp. (NASDAQ:CLNE)’s stock price fell 2.9% during trading on Tuesday . The stock traded as low as $2.32 and last traded at $2.35. 706,749 shares traded hands during trading, a decline of 55% from the average session volume of 1,587,557 shares. The stock had previously closed at $2.42.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CLNE shares. Scotiabank cut their target price on Clean Energy Fuels from $7.00 to $6.00 and set a “sector outperform” rating for the company in a research report on Wednesday, March 6th. StockNews.com raised Clean Energy Fuels to a “sell” rating in a report on Tuesday. Finally, Stifel Nicolaus cut their price target on shares of Clean Energy Fuels from $8.00 to $6.50 and set a “buy” rating for the company in a report on Tuesday, January 23rd. One investment analyst has rated the stock with a sell rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $6.80.

Clean Energy Fuels Stock Up 1.9 %

The company has a quick ratio of 2.59, a current ratio of 2.87 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $598.28 million, a price-to-earnings ratio of -6.09 and a beta of 2.09. The business has a 50-day moving average price of $2.88 and a 200-day moving average price of $3.42.

Clean Energy Fuels (NASDAQ:CLNE) last released its earnings results on Tuesday, February 27th. The utilities provider reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.02. Clean Energy Fuels had a negative net margin of 23.40% and a negative return on equity of 14.05%. The business had revenue of $106.86 million for the quarter, compared to the consensus estimate of $106.50 million. As a group, equities analysts anticipate that Clean Energy Fuels Corp. will post -0.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. ECP ControlCo LLC bought a new stake in shares of Clean Energy Fuels in the 4th quarter valued at approximately $13,493,000. State Street Corp grew its holdings in Clean Energy Fuels by 19.6% during the second quarter. State Street Corp now owns 12,696,002 shares of the utilities provider’s stock valued at $56,878,000 after purchasing an additional 2,082,455 shares during the last quarter. Schonfeld Strategic Advisors LLC bought a new position in shares of Clean Energy Fuels in the third quarter valued at approximately $6,997,000. Dimensional Fund Advisors LP lifted its stake in shares of Clean Energy Fuels by 16.6% in the first quarter. Dimensional Fund Advisors LP now owns 10,089,049 shares of the utilities provider’s stock worth $43,988,000 after buying an additional 1,435,096 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its holdings in shares of Clean Energy Fuels by 297.6% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,306,350 shares of the utilities provider’s stock worth $6,479,000 after buying an additional 977,788 shares during the period. Hedge funds and other institutional investors 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.