Brokerages Set Clean Energy Fuels Corp. (NASDAQ:CLNE) Target Price at $3.59

Shares of Clean Energy Fuels Corp. (NASDAQ:CLNE) have received a consensus recommendation of “Moderate Buy” from the six research firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $3.59.

CLNE has been the topic of several recent research reports. Jefferies Financial Group lowered Clean Energy Fuels from a “buy” rating to a “hold” rating and set a $2.20 price target on the stock. in a report on Friday, August 8th. UBS Group restated a “buy” rating and set a $2.75 price target (up previously from $2.00) on shares of Clean Energy Fuels in a report on Tuesday, August 12th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Clean Energy Fuels in a report on Wednesday, October 8th.

Insiders Place Their Bets

In related news, SVP Barclay Corbus sold 105,300 shares of the stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $2.63, for a total transaction of $276,939.00. Following the sale, the senior vice president owned 1,061,248 shares in the company, valued at approximately $2,791,082.24. This represents a 9.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 4.30% of the company’s stock.

Institutional Trading of Clean Energy Fuels

Hedge funds and other institutional investors have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC purchased a new stake in Clean Energy Fuels in the first quarter worth $51,000. GSA Capital Partners LLP increased its stake in Clean Energy Fuels by 293.9% in the first quarter. GSA Capital Partners LLP now owns 541,145 shares of the utilities provider’s stock worth $839,000 after purchasing an additional 403,747 shares during the period. Voya Investment Management LLC increased its stake in Clean Energy Fuels by 36.9% in the first quarter. Voya Investment Management LLC now owns 1,272,888 shares of the utilities provider’s stock worth $1,973,000 after purchasing an additional 342,982 shares during the period. EagleClaw Capital Managment LLC increased its stake in Clean Energy Fuels by 43.8% in the first quarter. EagleClaw Capital Managment LLC now owns 220,925 shares of the utilities provider’s stock worth $342,000 after purchasing an additional 67,250 shares during the period. Finally, McElhenny Sheffield Capital Management LLC purchased a new stake in Clean Energy Fuels in the second quarter worth $292,000. Hedge funds and other institutional investors own 49.94% of the company’s stock.

Clean Energy Fuels Stock Down 2.0%

Shares of CLNE opened at $2.93 on Wednesday. The stock has a market capitalization of $642.52 million, a price-to-earnings ratio of -3.26 and a beta of 2.70. Clean Energy Fuels has a 1 year low of $1.30 and a 1 year high of $3.67. The business’s 50 day simple moving average is $2.66 and its 200-day simple moving average is $2.16. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.83 and a quick ratio of 2.51.

Clean Energy Fuels (NASDAQ:CLNE) last issued its quarterly earnings data on Thursday, August 7th. The utilities provider reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.06. The business had revenue of $102.61 million for the quarter, compared to analysts’ expectations of $94.73 million. Clean Energy Fuels had a negative return on equity of 27.98% and a negative net margin of 48.40%.The company’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.01 EPS. As a group, equities analysts expect that Clean Energy Fuels will post -0.33 earnings per share for the current fiscal year.

About Clean Energy Fuels

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.