Clean Energy Fuels (CLNE) Downgraded by Zacks Investment Research

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Clean Energy Fuels (NASDAQ:CLNE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors 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. “

Several other brokerages have also recently commented on CLNE. BidaskClub raised shares of Clean Energy Fuels from a “hold” rating to a “buy” rating in a research note on Wednesday, May 23rd. ValuEngine raised shares of Clean Energy Fuels from a “sell” rating to a “hold” rating in a research note on Wednesday, May 2nd.

Shares of Clean Energy Fuels traded down $0.01, hitting $2.89, during trading hours on Thursday, according to Marketbeat. The company’s stock had a trading volume of 1,614,900 shares, compared to its average volume of 1,561,089. The company has a market capitalization of $456.08 million, a price-to-earnings ratio of -5.45 and a beta of 1.66. The company has a quick ratio of 1.41, a current ratio of 1.58 and a debt-to-equity ratio of 0.27. Clean Energy Fuels has a 52-week low of $1.31 and a 52-week high of $3.52.

Clean Energy Fuels (NASDAQ:CLNE) last issued its quarterly earnings data on Thursday, May 10th. The utilities provider reported $0.08 EPS for the quarter, beating the consensus estimate of $0.07 by $0.01. The company had revenue of $102.40 million during the quarter. Clean Energy Fuels had a negative net margin of 36.13% and a negative return on equity of 26.23%. sell-side analysts expect that Clean Energy Fuels will post -0.09 earnings per share for the current fiscal year.

In other news, major shareholder S.A. Total acquired 50,856,296 shares of Clean Energy Fuels stock in a transaction that occurred on Friday, June 8th. The stock was bought at an average price of $1.64 per share, with a total value of $83,404,325.44. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Andrew J. Littlefair acquired 22,000 shares of Clean Energy Fuels stock in a transaction that occurred on Friday, May 18th. The shares were purchased at an average cost of $2.30 per share, with a total value of $50,600.00. Following the purchase, the chief executive officer now owns 1,596,049 shares of the company’s stock, valued at approximately $3,670,912.70. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 50,940,596 shares of company stock valued at $83,601,461. 13.20% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the stock. Two Sigma Investments LP purchased a new position in Clean Energy Fuels during the fourth quarter valued at approximately $439,000. Systematic Financial Management LP lifted its position in Clean Energy Fuels by 18.7% during the fourth quarter. Systematic Financial Management LP now owns 644,365 shares of the utilities provider’s stock valued at $1,308,000 after purchasing an additional 101,730 shares during the last quarter. Deutsche Bank AG lifted its position in Clean Energy Fuels by 7.7% during the fourth quarter. Deutsche Bank AG now owns 810,080 shares of the utilities provider’s stock valued at $1,643,000 after purchasing an additional 57,916 shares during the last quarter. Jane Street Group LLC lifted its position in Clean Energy Fuels by 1,062.0% during the fourth quarter. Jane Street Group LLC now owns 116,930 shares of the utilities provider’s stock valued at $237,000 after purchasing an additional 106,867 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its position in Clean Energy Fuels by 95.4% during the fourth quarter. Wells Fargo & Company MN now owns 387,078 shares of the utilities provider’s stock valued at $786,000 after purchasing an additional 189,009 shares during the last quarter. 31.51% of the stock is owned by institutional investors.

About Clean Energy Fuels

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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