Clean Energy Fuels (NASDAQ:CLNE) Cut to “Sell” at StockNews.com

StockNews.com lowered shares of Clean Energy Fuels (NASDAQ:CLNE) from a hold rating to a sell rating in a research note issued to investors on Wednesday.

Separately, Raymond James reissued a “strong-buy” rating and set a $4.00 price objective (down previously from $5.00) on shares of Clean Energy Fuels in a research note on Tuesday.

Clean Energy Fuels Stock Up 1.0 %

Shares of CLNE opened at $2.04 on Wednesday. The firm has a market cap of $456.15 million, a P/E ratio of -6.58 and a beta of 2.18. The stock has a 50 day simple moving average of $2.90 and a two-hundred day simple moving average of $2.92. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.06 and a quick ratio of 2.74. Clean Energy Fuels has a 1 year low of $1.81 and a 1 year high of $3.67.

Clean Energy Fuels (NASDAQ:CLNE) last released its quarterly earnings data on Monday, February 24th. The utilities provider reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.04. The firm had revenue of $109.33 million during the quarter, compared to analyst estimates of $102.60 million. Clean Energy Fuels had a negative return on equity of 7.59% and a negative net margin of 17.32%. During the same quarter in the prior year, the firm posted $0.01 earnings per share. On average, analysts forecast that Clean Energy Fuels will post -0.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Clean Energy Fuels news, CFO Robert M. Vreeland purchased 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The stock was bought at an average price of $1.94 per share, with a total value of $29,100.00. Following the completion of the purchase, the chief financial officer now directly owns 458,800 shares of the company’s stock, valued at $890,072. The trade was a 3.38 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 3.60% of the stock is currently owned by insiders.

Institutional Trading of Clean Energy Fuels

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Two Sigma Securities LLC purchased a new stake in shares of Clean Energy Fuels during the fourth quarter valued at $31,000. Balyasny Asset Management L.P. purchased a new stake in shares of Clean Energy Fuels during the fourth quarter valued at $31,000. Tower Research Capital LLC TRC boosted its position in shares of 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 valued at $34,000 after buying an additional 4,894 shares during the last quarter. Cibc World Markets Corp purchased a new stake in shares of Clean Energy Fuels during the fourth quarter valued at $40,000. Finally, Point72 DIFC Ltd purchased a new stake in shares of Clean Energy Fuels during the third quarter valued at $41,000. 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.