Clean Energy Fuels (NASDAQ:CLNE) Stock Price Down 7.2%

Clean Energy Fuels Corp. (NASDAQ:CLNE)’s stock price fell 7.2% on Tuesday . The stock traded as low as $11.32 and last traded at $13.59. 9,638,673 shares changed hands during mid-day trading, a decline of 7% from the average session volume of 10,415,336 shares. The stock had previously closed at $14.65.

Several brokerages have recently weighed in on CLNE. Craig Hallum increased their price objective on shares of Clean Energy Fuels from $6.00 to $12.00 and gave the stock a “buy” rating in a research note on Tuesday, January 5th. Lake Street Capital increased their price objective on shares of Clean Energy Fuels from $9.00 to $27.00 and gave the stock a “buy” rating in a research note on Thursday, February 11th. Credit Suisse Group started coverage on shares of Clean Energy Fuels in a research note on Wednesday, February 3rd. They set an “outperform” rating and a $17.00 target price on the stock. Finally, Zacks Investment Research upgraded shares of Clean Energy Fuels from a “sell” rating to a “hold” rating in a research note on Wednesday, January 6th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Clean Energy Fuels presently has a consensus rating of “Buy” and a consensus price target of $14.63.

The company has a market cap of $2.69 billion, a P/E ratio of 77.24 and a beta of 2.02. The business’s 50 day simple moving average is $12.20 and its 200 day simple moving average is $5.71. The company has a current ratio of 2.63, a quick ratio of 2.27 and a debt-to-equity ratio of 0.06.

In other news, COO Mitchell W. Pratt sold 149,027 shares of Clean Energy Fuels stock in a transaction that occurred on Tuesday, January 19th. The shares were sold at an average price of $9.77, for a total transaction of $1,455,993.79. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Andrew J. Littlefair sold 144,221 shares of Clean Energy Fuels stock in a transaction that occurred on Tuesday, January 19th. The shares were sold at an average price of $10.00, for a total transaction of $1,442,210.00. Following the sale, the chief executive officer now owns 1,459,753 shares in the company, valued at approximately $14,597,530. The disclosure for this sale can be found here. 3.90% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC raised its position in shares of Clean Energy Fuels by 40.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 3,830 shares of the utilities provider’s stock valued at $30,000 after buying an additional 1,100 shares during the last quarter. Thompson Siegel & Walmsley LLC bought a new stake in shares of Clean Energy Fuels during the fourth quarter valued at approximately $65,000. Berman Capital Advisors LLC bought a new stake in shares of Clean Energy Fuels during the fourth quarter valued at approximately $78,000. Quest Capital Management Inc. ADV bought a new stake in shares of Clean Energy Fuels during the third quarter valued at approximately $26,000. Finally, New York State Teachers Retirement System bought a new stake in shares of Clean Energy Fuels during the fourth quarter valued at approximately $86,000. Hedge funds and other institutional investors own 30.34% of the company’s stock.

Clean Energy Fuels Company Profile (NASDAQ:CLNE)

Clean Energy Fuels Corp. provides natural gas as an alternative fuel for vehicle fleets, primarily in the United States and Canada. The company supplies renewable natural gas (RNG), compressed natural gas (CNG), and liquefied natural gas (LNG) for light, medium, and heavy-duty vehicles; and offers operation and maintenance services for public and private vehicle fleet customer stations.

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