Clean Energy Fuels (NASDAQ:CLNE) Raised to “Hold” at StockNews.com

StockNews.com upgraded shares of Clean Energy Fuels (NASDAQ:CLNE) from a sell rating to a hold rating in a report issued on Monday morning.

Separately, Scotiabank boosted their price target on shares of Clean Energy Fuels from $5.00 to $6.00 and gave the stock a “sector outperform” rating in a report on Tuesday, September 3rd. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $5.38.

Clean Energy Fuels Stock Up 2.1 %

Shares of NASDAQ CLNE opened at $2.86 on Monday. Clean Energy Fuels has a 12-month low of $2.17 and a 12-month high of $4.13. The stock has a market cap of $639.09 million, a P/E ratio of -8.71 and a beta of 2.12. The company has a current ratio of 3.06, a quick ratio of 2.59 and a debt-to-equity ratio of 0.36. The business’s fifty day simple moving average is $2.95 and its 200-day simple moving average is $2.80.

Clean Energy Fuels (NASDAQ:CLNE) last posted its quarterly earnings results on Wednesday, November 6th. The utilities provider reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.04. Clean Energy Fuels had a negative return on equity of 7.59% and a negative net margin of 17.32%. The company had revenue of $104.90 million for the quarter, compared to analyst estimates of $100.64 million. During the same quarter last year, the company earned ($0.12) EPS. Clean Energy Fuels’s revenue for the quarter was up 9.7% compared to the same quarter last year. As a group, equities analysts predict that Clean Energy Fuels will post -0.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Clean Energy Fuels

Several institutional investors have recently added to or reduced their stakes in CLNE. The Manufacturers Life Insurance Company raised its holdings in Clean Energy Fuels by 10.5% during the second quarter. The Manufacturers Life Insurance Company now owns 69,853 shares of the utilities provider’s stock worth $187,000 after purchasing an additional 6,637 shares in the last quarter. FMR LLC grew its position in shares of Clean Energy Fuels by 14.8% in the 3rd quarter. FMR LLC now owns 53,546 shares of the utilities provider’s stock valued at $167,000 after buying an additional 6,884 shares during the last quarter. Rhumbline Advisers raised its stake in Clean Energy Fuels by 2.4% during the 2nd quarter. Rhumbline Advisers now owns 292,747 shares of the utilities provider’s stock worth $782,000 after acquiring an additional 6,989 shares in the last quarter. Eastern Bank purchased a new stake in Clean Energy Fuels in the third quarter valued at $31,000. Finally, CANADA LIFE ASSURANCE Co boosted its stake in Clean Energy Fuels by 30.6% in the first quarter. CANADA LIFE ASSURANCE Co now owns 44,569 shares of the utilities provider’s stock valued at $119,000 after acquiring an additional 10,437 shares in the last quarter. Hedge funds and other institutional investors own 49.94% of the company’s stock.

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.