Brokerages Set Clean Energy Fuels Corp. (NASDAQ:CLNE) Target Price at $3.59

Shares of Clean Energy Fuels Corp. (NASDAQ:CLNE) have been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $3.59.

A number of research analysts have recently commented on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Clean Energy Fuels in a report on Friday. Jefferies Financial Group lowered Clean Energy Fuels from a “buy” rating to a “hold” rating and set a $2.20 price objective on the stock. in a report on Friday, August 8th. Finally, UBS Group reaffirmed a “buy” rating and issued a $2.75 target price (up previously from $2.00) on shares of Clean Energy Fuels in a report on Tuesday, August 12th.

Insider Transactions at Clean Energy Fuels

In other Clean Energy Fuels news, SVP Barclay Corbus sold 105,300 shares of the firm’s stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $2.63, for a total value of $276,939.00. Following the sale, the senior vice president owned 1,061,248 shares of the company’s stock, valued at $2,791,082.24. This trade represents a 9.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 4.30% of the stock is owned by company insiders.

Institutional Trading of Clean Energy Fuels

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. NewEdge Advisors LLC grew its holdings in Clean Energy Fuels by 1,419,900.0% in the 2nd quarter. NewEdge Advisors LLC now owns 14,200 shares of the utilities provider’s stock valued at $28,000 after buying an additional 14,199 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Clean Energy Fuels by 54.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 14,844 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 5,254 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Clean Energy Fuels by 140.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 14,971 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 8,738 shares in the last quarter. Catalyst Funds Management Pty Ltd acquired a new stake in shares of Clean Energy Fuels during the 2nd quarter worth approximately $37,000. Finally, Byrne Asset Management LLC acquired a new stake in shares of Clean Energy Fuels during the 2nd quarter worth approximately $42,000. Institutional investors and hedge funds own 49.94% of the company’s stock.

Clean Energy Fuels Stock Performance

Shares of NASDAQ CLNE opened at $3.06 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.51 and a current ratio of 2.83. The firm has a market cap of $671.03 million, a price-to-earnings ratio of -3.40 and a beta of 2.70. The business’s 50-day simple moving average is $2.64 and its 200-day simple moving average is $2.13. Clean Energy Fuels has a 52 week low of $1.30 and a 52 week high of $3.67.

Clean Energy Fuels (NASDAQ:CLNE) last issued its quarterly earnings data on Thursday, August 7th. The utilities provider reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.06. The business had revenue of $102.61 million for the quarter, compared to analyst estimates of $94.73 million. Clean Energy Fuels had a negative return on equity of 27.98% and a negative net margin of 48.40%.The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.01 EPS. As a group, equities research analysts expect that Clean Energy Fuels will post -0.33 earnings per share for the current fiscal year.

About Clean Energy Fuels

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.