Raymond James Reiterates “Strong-Buy” Rating for Clean Energy Fuels (NASDAQ:CLNE)

Raymond James reissued their strong-buy rating on shares of Clean Energy Fuels (NASDAQ:CLNE) in a report issued on Tuesday morning,Benzinga reports. Raymond James currently has a $4.00 price objective on the utilities provider’s stock, down from their prior price objective of $5.00.

Separately, StockNews.com upgraded shares of Clean Energy Fuels from a “sell” rating to a “hold” rating in a research note on Tuesday, February 4th.

Clean Energy Fuels Stock Up 4.4 %

NASDAQ:CLNE opened at $2.02 on Tuesday. Clean Energy Fuels has a fifty-two week low of $1.81 and a fifty-two week high of $3.67. The stock has a market capitalization of $451.38 million, a P/E ratio of -6.52 and a beta of 2.18. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.74 and a current ratio of 3.06. The company’s 50-day simple moving average is $2.91 and its 200-day simple moving average is $2.93.

Clean Energy Fuels (NASDAQ:CLNE) last released its earnings results on Monday, February 24th. The utilities provider reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.04. The company had revenue of $109.33 million during the quarter, compared to analysts’ expectations of $102.60 million. Clean Energy Fuels had a negative net margin of 17.32% and a negative return on equity of 7.59%. During the same period last year, the business earned $0.01 EPS. On average, equities analysts anticipate that Clean Energy Fuels will post -0.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Robert M. Vreeland bought 15,000 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was purchased at an average cost of $1.94 per share, with a total value of $29,100.00. Following the acquisition, the chief financial officer now directly owns 458,800 shares in the company, valued at $890,072. This trade represents a 3.38 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 3.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Clean Energy Fuels

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Moors & Cabot Inc. increased its holdings in Clean Energy Fuels by 0.9% in the 4th quarter. Moors & Cabot Inc. now owns 413,195 shares of the utilities provider’s stock worth $1,037,000 after acquiring an additional 3,700 shares in the last quarter. GTS Securities LLC lifted its position in Clean Energy Fuels by 16.8% in the fourth 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. Invesco Ltd. lifted its position in Clean Energy Fuels by 1.2% in the fourth quarter. Invesco Ltd. now owns 349,650 shares of the utilities provider’s stock valued at $878,000 after buying an additional 4,108 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Clean Energy Fuels by 4.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 97,684 shares of the utilities provider’s stock worth $245,000 after purchasing an additional 4,215 shares during the period. Finally, Tower Research Capital LLC TRC increased its stake in Clean Energy Fuels by 56.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 13,584 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 4,894 shares during the period. Hedge funds and other institutional investors own 49.94% of the company’s stock.

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.