Clean Energy Fuels (NASDAQ:CLNE) Receives “Buy” Rating from UBS Group

Clean Energy Fuels (NASDAQ:CLNE)‘s stock had its “buy” rating reaffirmed by UBS Group in a research report issued on Tuesday, MarketBeat reports. They presently have a $2.75 target price on the utilities provider’s stock, up from their prior target price of $2.00. UBS Group’s price target would indicate a potential upside of 17.52% from the stock’s previous close.

CLNE has been the topic of several other research reports. Jefferies Financial Group cut shares of Clean Energy Fuels from a “buy” rating to a “hold” rating and set a $2.20 price target on the stock. in a report on Friday, August 8th. Lake Street Capital dropped their target price on shares of Clean Energy Fuels from $22.00 to $5.00 and set a “buy” rating on the stock in a report on Friday, May 9th. 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 issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $3.59.

Clean Energy Fuels Stock Up 1.7%

Shares of NASDAQ CLNE opened at $2.34 on Tuesday. The company has a quick ratio of 2.51, a current ratio of 2.83 and a debt-to-equity ratio of 0.47. Clean Energy Fuels has a 52 week low of $1.30 and a 52 week high of $3.67. The firm’s fifty day moving average is $2.03 and its 200 day moving average is $2.02. The company has a market cap of $513.14 million, a price-to-earnings ratio of -2.60 and a beta of 2.65.

Clean Energy Fuels (NASDAQ:CLNE) last issued its earnings results on Thursday, August 7th. The utilities provider reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.06. The company had revenue of $102.61 million for the quarter, compared to the consensus estimate of $94.73 million. Clean Energy Fuels had a negative net margin of 48.40% and a negative return on equity of 27.98%. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.01 earnings per share. On average, equities research analysts expect that Clean Energy Fuels will post -0.33 earnings per share for the current year.

Institutional Investors Weigh In On Clean Energy Fuels

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Invesco Ltd. boosted its stake in Clean Energy Fuels by 4.2% in the 2nd quarter. Invesco Ltd. now owns 395,988 shares of the utilities provider’s stock worth $772,000 after purchasing an additional 16,130 shares during the period. XTX Topco Ltd boosted its stake in Clean Energy Fuels by 24.3% in the 2nd quarter. XTX Topco Ltd now owns 482,865 shares of the utilities provider’s stock worth $942,000 after purchasing an additional 94,280 shares during the period. Prudential Financial Inc. boosted its stake in Clean Energy Fuels by 91.1% in the 2nd quarter. Prudential Financial Inc. now owns 25,831 shares of the utilities provider’s stock worth $50,000 after purchasing an additional 12,317 shares during the period. Rhumbline Advisers boosted its stake in Clean Energy Fuels by 2.2% in the 2nd quarter. Rhumbline Advisers now owns 270,664 shares of the utilities provider’s stock worth $528,000 after purchasing an additional 5,933 shares during the period. Finally, Franklin Resources Inc. boosted its stake in Clean Energy Fuels by 6.0% in the 2nd quarter. Franklin Resources Inc. now owns 126,655 shares of the utilities provider’s stock worth $247,000 after purchasing an additional 7,142 shares during the period. 49.94% of the stock is 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.