Clean Energy Fuels (NASDAQ:CLNE) Price Target Lowered to $5.00 at Lake Street Capital

Clean Energy Fuels (NASDAQ:CLNE) had its target price reduced by Lake Street Capital from $22.00 to $5.00 in a research report released on Friday,Benzinga reports. They currently have a buy rating on the utilities provider’s stock.

A number of other research analysts also recently commented on the company. Scotiabank lowered their price objective on Clean Energy Fuels from $6.00 to $4.00 and set a “sector outperform” rating for the company in a research note on Friday, April 11th. Raymond James restated a “strong-buy” rating and set a $4.00 price target (down previously from $5.00) on shares of Clean Energy Fuels in a research report on Tuesday, February 25th. UBS Group set a $2.00 price objective on shares of Clean Energy Fuels and gave the company a “buy” rating in a research report on Sunday, April 13th. Finally, StockNews.com cut shares of Clean Energy Fuels from a “hold” rating to a “sell” rating in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Clean Energy Fuels presently has an average rating of “Moderate Buy” and an average price target of $3.75.

Clean Energy Fuels Stock Down 6.4 %

Shares of NASDAQ:CLNE opened at $1.60 on Friday. The company’s fifty day moving average is $1.58 and its two-hundred day moving average is $2.41. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.74 and a current ratio of 3.06. Clean Energy Fuels has a 1-year low of $1.30 and a 1-year high of $3.67. The stock has a market capitalization of $358.34 million, a price-to-earnings ratio of -5.16 and a beta of 2.57.

Clean Energy Fuels (NASDAQ:CLNE) last released its quarterly earnings data on Thursday, May 8th. The utilities provider reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.21. The firm had revenue of $103.76 million for the quarter, compared to analyst estimates of $96.61 million. Clean Energy Fuels had a negative net margin of 17.32% and a negative return on equity of 7.59%. Clean Energy Fuels’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.01) earnings per share. Equities analysts anticipate that Clean Energy Fuels will post -0.33 EPS for the current year.

Insider Buying and Selling

In other news, CFO Robert M. Vreeland bought 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The shares were purchased at an average price of $1.94 per share, with a total value of $29,100.00. Following the completion of the acquisition, the chief financial officer now directly owns 458,800 shares in the company, valued at approximately $890,072. This trade represents a 3.38 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders purchased 35,000 shares of company stock valued at $64,100 over the last 90 days. 4.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Clean Energy Fuels

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CLNE. Two Sigma Securities LLC acquired a new stake in shares of Clean Energy Fuels in the fourth quarter valued at $31,000. Balyasny Asset Management L.P. acquired a new stake in Clean Energy Fuels in the 4th quarter valued at about $31,000. Tower Research Capital LLC TRC lifted its holdings in Clean Energy Fuels by 56.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 13,584 shares of the utilities provider’s stock valued at $34,000 after acquiring an additional 4,894 shares during the last quarter. Teacher Retirement System of Texas bought a new position in shares of Clean Energy Fuels during the 1st quarter valued at about $38,000. Finally, Cibc World Markets Corp acquired a new position in shares of Clean Energy Fuels in the 4th quarter worth approximately $40,000. 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.