Piper Sandler Trims Clean Energy Fuels (NASDAQ:CLNE) Target Price to $4.00

Clean Energy Fuels (NASDAQ:CLNE) had its price objective lowered by stock analysts at Piper Sandler from $7.00 to $4.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the utilities provider’s stock. Piper Sandler’s target price indicates a potential upside of 80.18% from the company’s previous close.

A number of other research analysts also recently issued reports on CLNE. Stifel Nicolaus dropped their price objective on Clean Energy Fuels from $8.00 to $6.50 and set a “buy” rating on the stock in a research note on Tuesday, January 23rd. Scotiabank dropped their price target on Clean Energy Fuels from $6.00 to $5.00 and set a “sector outperform” rating on the stock in a research note on Thursday, April 11th. Raymond James dropped their price target on Clean Energy Fuels from $6.00 to $5.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, April 3rd. Finally, StockNews.com raised Clean Energy Fuels to a “sell” rating in a research note on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Clean Energy Fuels currently has an average rating of “Moderate Buy” and an average price target of $5.60.

Clean Energy Fuels Stock Down 0.9 %

Shares of NASDAQ:CLNE opened at $2.22 on Thursday. The company has a market capitalization of $495.64 million, a price-to-earnings ratio of -5.05 and a beta of 2.06. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.87 and a quick ratio of 2.59. The business’s 50-day moving average is $2.68 and its 200-day moving average is $3.23. Clean Energy Fuels has a 1 year low of $2.18 and a 1 year high of $5.25.

Clean Energy Fuels (NASDAQ:CLNE) last announced its quarterly earnings data on Tuesday, February 27th. The utilities provider reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.02. The company had revenue of $106.86 million for the quarter, compared to the consensus estimate of $106.50 million. Clean Energy Fuels had a negative return on equity of 14.05% and a negative net margin of 23.40%. Equities research analysts predict that Clean Energy Fuels will post -0.48 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CLNE. Grassi Investment Management purchased a new stake in shares of Clean Energy Fuels in the first quarter worth approximately $36,000. Arkadios Wealth Advisors purchased a new stake in shares of Clean Energy Fuels in the third quarter worth approximately $38,000. Prio Wealth Limited Partnership purchased a new stake in shares of Clean Energy Fuels in the fourth quarter worth approximately $38,000. Xponance Inc. purchased a new stake in shares of Clean Energy Fuels in the third quarter worth approximately $39,000. Finally, Sunbelt Securities Inc. raised its stake in shares of Clean Energy Fuels by 1,052.6% in the third quarter. Sunbelt Securities Inc. now owns 10,950 shares of the utilities provider’s stock worth $42,000 after purchasing an additional 10,000 shares during the last quarter. 49.94% of the stock is owned by institutional investors and hedge funds.

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.