Clean Energy Fuels (NASDAQ: CLNE) improved at Zacks Investment Research
Clean Energy Fuels (NASDAQ: CLNE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note released Wednesday, Zacks.com reports. The brokerage currently has a target price of $ 9.50 on the utility provider’s stock. Zacks Investment Research’s price target would suggest a potential rise of 17.87% from the current share price.
According to Zacks, “CLEAN ENERGY FUELS, based in Seal Beach, Calif., Is the leading supplier of natural gas (CNG and LNG) for transportation in North America. , taxi, intrastate and interstate trucking, airport and municipal fleets markets across the United States and Canada.
A number of other analysts also weighed on CLNE. Evercore ISI began covering clean energy fuels in a research note on Wednesday, July 14. They issued an “underperformance” rating and a target price of $ 9.00 for the company. Needham & Company LLC lowered its target price on clean energy fuels from $ 12.00 to $ 11.00 and set a “buy” rating for the company in a research note on Friday August 6. Finally, Credit Suisse Group lowered its target price on clean energy fuels from $ 20.00 to $ 16.00 and established an “outperformance” rating for the company in a research note on Wednesday, August 18. Two investment analysts rated the stock with a sell rating, one issued a conservation rating and five issued a buy rating for the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $ 14.07.
CLNE lost $ 0.46 on Wednesday, hitting $ 8.06. 5,586,558 shares of the stock traded for an average volume of 10,540,341. Clean Energy Fuels has a 52-week low of $ 2.39 and a 52-week high of $ 19.79. The company has a current ratio of 4.52, a quick ratio of 4.19, and a debt ratio of 0.04. The company has a market cap of $ 1.80 billion, a PE ratio of -18.32 and a beta of 1.94. The company has a fifty-day moving average price of $ 7.76 and a two hundred-day moving average price of $ 9.64.
Clean Energy Fuels (NASDAQ: CLNE) last released its quarterly earnings data on Thursday, August 5. The utility provider reported earnings per share of $ 0.01 for the quarter. The company reported sales of $ 0.48 million for the quarter. Clean Energy Fuels recorded a negative return on equity of 1.64% and a negative net margin of 41.02%. On average, equity research analysts predict that Clean Energy Fuels will show 0.01 BPA for the current fiscal year.
Institutional investors and hedge funds have recently changed their holdings in the company. Grantham Mayo Van Otterloo & Co. LLC increased its stake in Clean Energy Fuels shares by 1,780.3% during the second quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 7,457,253 shares of the utility company valued at $ 75,691,000 after purchasing an additional 7,060,660 shares in the last quarter. Allianz Asset Management GmbH bought a new position in shares of Clean Energy Fuels during the 1st quarter for a value of approximately $ 37,953,000. State Street Corp increased its equity stake in Clean Energy Fuels by 22.1% in the second quarter. State Street Corp now owns 12,429,119 shares of the utility company valued at $ 126,156,000 after purchasing an additional 2,249,203 shares in the last quarter. BlackRock Inc. increased its holdings of Clean Energy Fuels shares by 14.4% during the 2nd quarter. BlackRock Inc. now owns 11,727,967 shares of the utility company valued at $ 119,040,000 after purchasing an additional 1,479,584 shares in the last quarter. Finally, Morgan Stanley increased its stake in Clean Energy Fuels shares by 82.4% during the second quarter. Morgan Stanley now owns 2,044,681 shares of the utility company valued at $ 20,754,000 after purchasing an additional 923,988 shares in the last quarter. Hedge funds and other institutional investors hold 38.89% of the company’s shares.
Clean Energy Fuels Company Profile
Clean Energy Fuels Corp. engages in the supply of natural gas as an alternative fuel for vehicle fleets in the United States and Canada. It also builds and operates refueling stations for compressed natural gas (CNG) and liquefied natural gas (LNG) vehicles; manufacturing CNG and LNG equipment and technologies; and deliver more fuel for CNG and LNG vehicles.
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