Clean Energy Fuels (CLNE) Stock Rating Upgraded by Zacks Investment Research

Share on StockTwits

Clean Energy Fuels (NASDAQ:CLNE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The firm presently has a $2.50 price target on the utilities provider’s stock. Zacks Investment Research‘s target price would indicate a potential downside of 9.09% from the stock’s current price.

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. “

Several other brokerages also recently weighed in on CLNE. BidaskClub upgraded shares of Clean Energy Fuels from a “strong sell” rating to a “sell” rating in a research note on Saturday, January 5th. ValuEngine upgraded shares of Clean Energy Fuels from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Finally, Raymond James reiterated a “sell” rating on shares of Clean Energy Fuels in a research note on Wednesday, December 26th.

NASDAQ CLNE opened at $2.75 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.09 and a quick ratio of 1.89. Clean Energy Fuels has a 1 year low of $1.38 and a 1 year high of $4.05. The firm has a market capitalization of $461.88 million, a price-to-earnings ratio of -45.83 and a beta of 2.06.

Clean Energy Fuels (NASDAQ:CLNE) last released its quarterly earnings data on Tuesday, March 12th. The utilities provider reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.02. Clean Energy Fuels had a negative net margin of 1.09% and a negative return on equity of 2.14%. The company had revenue of $96.23 million during the quarter, compared to the consensus estimate of $85.30 million. On average, sell-side analysts anticipate that Clean Energy Fuels will post -0.17 EPS for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the company. Prudential Financial Inc. acquired a new stake in shares of Clean Energy Fuels during the fourth quarter worth about $27,000. Two Sigma Securities LLC boosted its stake in shares of Clean Energy Fuels by 34.7% during the fourth quarter. Two Sigma Securities LLC now owns 21,068 shares of the utilities provider’s stock worth $36,000 after buying an additional 5,433 shares during the period. Great West Life Assurance Co. Can acquired a new stake in shares of Clean Energy Fuels during the fourth quarter worth about $42,000. Legal & General Group Plc boosted its stake in shares of Clean Energy Fuels by 35.1% during the fourth quarter. Legal & General Group Plc now owns 26,962 shares of the utilities provider’s stock worth $46,000 after buying an additional 7,000 shares during the period. Finally, HRT Financial LLC acquired a new stake in shares of Clean Energy Fuels during the fourth quarter worth about $53,000. Institutional investors and hedge funds own 27.87% of the company’s stock.

About Clean Energy Fuels

Clean Energy Fuels Corp. provides natural gas as an alternative fuel for vehicle fleets 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 provides operation and maintenance services for vehicle fleet customer stations.

Featured Story: Understanding Compound Annual Growth Rate (CAGR)

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

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.