Clean Energy Fuels (CLNE) Cut to Hold at Zacks Investment Research

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Clean Energy Fuels (NASDAQ:CLNE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

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. “

Other analysts also recently issued reports about the company. ValuEngine upgraded Clean Energy Fuels from a “hold” rating to a “buy” rating in a research report on Monday, February 4th. BidaskClub raised Clean Energy Fuels from a “sell” rating to a “hold” rating in a report on Friday, February 22nd. Finally, Raymond James reissued a “sell” rating on shares of Clean Energy Fuels in a report on Wednesday, December 26th.

CLNE traded down $0.04 during trading on Friday, hitting $2.71. The stock had a trading volume of 3,545,232 shares, compared to its average volume of 791,484. The company has a market capitalization of $559.55 million, a PE ratio of -45.17 and a beta of 2.06. Clean Energy Fuels has a one year low of $1.46 and a one year high of $4.05. 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 (NASDAQ:CLNE) last released its quarterly earnings results on Tuesday, March 12th. The utilities provider reported ($0.02) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.02. The business had revenue of $96.23 million during the quarter, compared to the consensus estimate of $85.30 million. Clean Energy Fuels had a negative return on equity of 2.14% and a negative net margin of 1.09%. Equities analysts anticipate that Clean Energy Fuels will post -0.17 earnings per share for the current fiscal year.

Several institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC raised its holdings in shares of Clean Energy Fuels by 11.0% during the 4th quarter. Geode Capital Management LLC now owns 1,609,843 shares of the utilities provider’s stock worth $2,768,000 after buying an additional 159,582 shares in the last quarter. Financial Advocates Investment Management raised its holdings in shares of Clean Energy Fuels by 4,335.7% during the 4th quarter. Financial Advocates Investment Management now owns 64,318 shares of the utilities provider’s stock worth $2,821,000 after buying an additional 62,868 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Clean Energy Fuels by 2.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 10,696,552 shares of the utilities provider’s stock worth $18,398,000 after buying an additional 232,198 shares in the last quarter. HRT Financial LLC acquired a new position in Clean Energy Fuels in the 4th quarter worth about $53,000. Finally, Millennium Management LLC acquired a new position in Clean Energy Fuels in the 4th quarter worth about $794,000. 27.87% of the stock is owned by institutional investors.

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.

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