Clean Energy Fuels (NASDAQ:CLNE) Shares Up 8%

Clean Energy Fuels Corp. (NASDAQ:CLNE)’s stock price shot up 8% during mid-day trading on Friday . The stock traded as high as $2.44 and last traded at $2.43. 927,227 shares traded hands during trading, a decline of 43% from the average session volume of 1,627,159 shares. The stock had previously closed at $2.25.

Analyst Ratings Changes

CLNE has been the topic of a number of recent analyst reports. Raymond James lowered their price objective 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. Scotiabank reduced their target price on Clean Energy Fuels from $6.00 to $5.00 and set a “sector outperform” rating on the stock in a research note on Thursday, April 11th. Stifel Nicolaus reduced their target price on Clean Energy Fuels from $8.00 to $6.50 and set a “buy” rating on the stock in a research note on Tuesday, January 23rd. StockNews.com raised Clean Energy Fuels to a “sell” rating in a research note on Tuesday, April 9th. Finally, Piper Sandler reduced their price objective on Clean Energy Fuels from $7.00 to $4.00 and set an “overweight” rating on the stock in a research note on Thursday, April 18th. One analyst has rated the stock with a sell rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Clean Energy Fuels presently has an average rating of “Moderate Buy” and an average target price of $5.60.

Clean Energy Fuels Stock Up 8.0 %

The company has a debt-to-equity ratio of 0.36, a current ratio of 2.87 and a quick ratio of 2.59. The company has a market capitalization of $542.52 million, a P/E ratio of -5.41 and a beta of 2.06. The company has a 50 day moving average of $2.62 and a 200-day moving average of $3.19.

Clean Energy Fuels (NASDAQ:CLNE) last posted its earnings results on Tuesday, February 27th. The utilities provider reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.02. The company had revenue of $106.86 million for the quarter, compared to analysts’ expectations of $106.50 million. Clean Energy Fuels had a negative return on equity of 14.05% and a negative net margin of 23.40%. As a group, equities analysts anticipate that Clean Energy Fuels Corp. will post -0.44 EPS for the current year.

Institutional Trading of Clean Energy Fuels

Large investors have recently modified their holdings of the business. Arkadios Wealth Advisors purchased a new stake in Clean Energy Fuels in the third quarter worth about $38,000. Prio Wealth Limited Partnership purchased a new stake in Clean Energy Fuels in the fourth quarter worth about $38,000. Xponance Inc. purchased a new stake in Clean Energy Fuels in the third quarter worth about $39,000. Sunbelt Securities Inc. lifted its holdings 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 worth $42,000 after buying an additional 10,000 shares during the period. Finally, Grassi Investment Management purchased a new stake in Clean Energy Fuels in the first quarter worth about $36,000. 49.94% of the stock is owned by institutional investors.

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.