Clean Energy Fuels (NASDAQ:CLNE) Downgraded by Zacks Investment Research to Strong Sell

Clean Energy Fuels (NASDAQ:CLNEGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “strong sell” rating in a research note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “CLEAN ENERGY FUELS, based in Seal Beach, Calif., is the leading provider of natural gas (CNG and LNG) for transportation in North America. It has a broad customer base in the refuse, transit, ports, shuttle, taxi, intrastate and interstate trucking, airport and municipal fleet markets,across the United States and Canada. “

A number of other equities analysts also recently commented on CLNE. Evercore ISI upgraded Clean Energy Fuels to a “buy” rating and set a $11.00 price objective on the stock in a research report on Friday, February 25th. Jonestrading assumed coverage on Clean Energy Fuels in a research report on Friday, April 8th. They set a “buy” rating on the stock. StockNews.com assumed coverage on Clean Energy Fuels in a research report on Thursday, March 31st. They set a “sell” rating on the stock. Tudor Pickering upgraded Clean Energy Fuels from a “hold” rating to a “buy” rating in a research report on Thursday, January 27th. Finally, Craig Hallum lifted their target price on Clean Energy Fuels from $20.00 to $27.00 in a research report on Thursday, January 27th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Clean Energy Fuels has a consensus rating of “Hold” and an average price target of $14.65.

Shares of NASDAQ:CLNE traded up $0.07 during trading on Wednesday, reaching $7.50. The stock had a trading volume of 2,060,648 shares, compared to its average volume of 3,722,623. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.01 and a current ratio of 3.26. The business has a fifty day moving average price of $7.27 and a 200-day moving average price of $7.33. The stock has a market cap of $1.67 billion, a PE ratio of -16.67 and a beta of 1.80. Clean Energy Fuels has a 1-year low of $4.70 and a 1-year high of $14.50.

Clean Energy Fuels (NASDAQ:CLNEGet Rating) last announced its quarterly earnings data on Thursday, February 24th. The utilities provider reported $0.03 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.03. Clean Energy Fuels had a negative return on equity of 0.26% and a negative net margin of 36.44%. The firm had revenue of $91.90 million for the quarter, compared to the consensus estimate of $91.16 million. The business’s revenue was up 22.5% on a year-over-year basis. Sell-side analysts expect that Clean Energy Fuels will post -0.01 earnings per share for the current year.

A number of large investors have recently bought and sold shares of the business. BlackRock Inc. grew its stake in shares of Clean Energy Fuels by 2.7% in the fourth quarter. BlackRock Inc. now owns 14,149,739 shares of the utilities provider’s stock valued at $86,737,000 after buying an additional 370,209 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC grew its stake in shares of Clean Energy Fuels by 63.7% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 12,206,099 shares of the utilities provider’s stock valued at $99,480,000 after buying an additional 4,748,846 shares in the last quarter. Global Alpha Capital Management Ltd. grew its stake in shares of Clean Energy Fuels by 9.3% in the fourth quarter. Global Alpha Capital Management Ltd. now owns 3,705,275 shares of the utilities provider’s stock valued at $22,713,000 after buying an additional 316,110 shares in the last quarter. Millennium Management LLC grew its stake in shares of Clean Energy Fuels by 239.7% in the fourth quarter. Millennium Management LLC now owns 3,059,197 shares of the utilities provider’s stock valued at $18,753,000 after buying an additional 2,158,538 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Clean Energy Fuels by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 2,917,596 shares of the utilities provider’s stock valued at $17,884,000 after buying an additional 33,904 shares in the last quarter. Institutional investors own 41.86% of the company’s stock.

Clean Energy Fuels Company Profile (Get Rating)

Clean Energy Fuels Corp. provides natural gas as an alternative fuel for vehicle fleets and related fueling solutions, primarily 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.

Featured Articles

Get a free copy of the Zacks research report on Clean Energy Fuels (CLNE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Clean Energy Fuels (NASDAQ:CLNE)

Receive News & Ratings for Clean Energy Fuels Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Clean Energy Fuels and related companies with MarketBeat.com's FREE daily email newsletter.