Scotiabank Has Lowered Expectations for Clean Energy Fuels (NASDAQ:CLNE) Stock Price

Clean Energy Fuels (NASDAQ:CLNE) had its target price decreased by analysts at Scotiabank from $6.00 to $4.00 in a report released on Friday,Benzinga reports. The firm currently has a “sector outperform” rating on the utilities provider’s stock. Scotiabank’s price target indicates a potential upside of 168.46% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. StockNews.com downgraded shares of Clean Energy Fuels from a “hold” rating to a “sell” rating in a report on Wednesday, February 26th. Raymond James reiterated a “strong-buy” rating and issued a $4.00 target price (down from $5.00) on shares of Clean Energy Fuels in a research note on Tuesday, February 25th.

Clean Energy Fuels Stock Up 1.4 %

CLNE traded up $0.02 during midday trading on Friday, hitting $1.49. The company had a trading volume of 2,190,022 shares, compared to its average volume of 2,001,086. The company has a quick ratio of 2.74, a current ratio of 3.06 and a debt-to-equity ratio of 0.36. The stock’s 50 day moving average price is $2.15 and its 200 day moving average price is $2.63. The company has a market capitalization of $333.17 million, a price-to-earnings ratio of -4.81 and a beta of 2.48. 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 released its quarterly earnings results on Monday, February 24th. The utilities provider reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.04. The business had revenue of $109.33 million during the quarter, compared to the consensus estimate of $102.60 million. Clean Energy Fuels had a negative return on equity of 7.59% and a negative net margin of 17.32%. During the same quarter in the previous year, the business earned $0.01 EPS. On average, research analysts anticipate that Clean Energy Fuels will post -0.33 earnings per share for the current fiscal year.

Insider Activity

In other Clean Energy Fuels news, CFO Robert M. Vreeland acquired 15,000 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was bought at an average price of $1.94 per share, with a total value of $29,100.00. Following the purchase, the chief financial officer now owns 458,800 shares of the company’s stock, valued at approximately $890,072. This trade represents a 3.38 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders bought 35,000 shares of company stock worth $64,100 in the last three months. Corporate insiders own 3.60% of the company’s stock.

Institutional Trading of Clean Energy Fuels

Institutional investors have recently added to or reduced their stakes in the business. Grassi Investment Management grew its position in Clean Energy Fuels by 63.8% during the 1st quarter. Grassi Investment Management now owns 38,500 shares of the utilities provider’s stock worth $60,000 after acquiring an additional 15,000 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Clean Energy Fuels by 14.0% in the fourth quarter. Wellington Management Group LLP now owns 102,670 shares of the utilities provider’s stock worth $258,000 after purchasing an additional 12,628 shares during the last quarter. GF Fund Management CO. LTD. purchased a new position in shares of Clean Energy Fuels in the fourth quarter worth $145,000. GTS Securities LLC raised its holdings in Clean Energy Fuels by 16.8% during the 4th quarter. GTS Securities LLC now owns 27,446 shares of the utilities provider’s stock valued at $69,000 after buying an additional 3,955 shares during the last quarter. Finally, Two Sigma Advisers LP boosted its position in Clean Energy Fuels by 115.6% during the 4th quarter. Two Sigma Advisers LP now owns 178,300 shares of the utilities provider’s stock valued at $448,000 after buying an additional 95,600 shares during the period. 49.94% of the stock is currently owned by hedge funds and other institutional investors.

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.