Clean Energy Fuels (NASDAQ:CLNE) Upgraded at Raymond James

Raymond James upgraded shares of Clean Energy Fuels (NASDAQ:CLNEGet Rating) from a market perform rating to an outperform rating in a report issued on Tuesday morning, The Fly reports. Raymond James currently has $6.00 price target on the utilities provider’s stock.

A number of other research firms have also issued reports on CLNE. StockNews.com assumed coverage on Clean Energy Fuels in a report on Thursday, March 31st. They issued a sell rating on the stock. Jonestrading started coverage on shares of Clean Energy Fuels in a research note on Friday, April 8th. They issued a buy rating on the stock. Zacks Investment Research upgraded shares of Clean Energy Fuels from a strong sell rating to a hold rating in a research note on Wednesday, April 27th. Craig Hallum raised their price target on shares of Clean Energy Fuels from $20.00 to $27.00 in a research report on Thursday, January 27th. Finally, Evercore ISI upgraded shares of Clean Energy Fuels to a buy rating and set a $11.00 target price for the company in a research note on Friday, February 25th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Buy and an average price target of $13.21.

NASDAQ CLNE opened at $4.86 on Tuesday. Clean Energy Fuels has a 1 year low of $4.02 and a 1 year high of $14.50. The company has a fifty day simple moving average of $6.98 and a 200 day simple moving average of $6.93. The company has a current ratio of 3.26, a quick ratio of 3.01 and a debt-to-equity ratio of 0.03. The company has a market cap of $1.08 billion, a P/E ratio of -9.35 and a beta of 1.89.

Clean Energy Fuels (NASDAQ:CLNEGet Rating) last released its quarterly earnings results on Thursday, May 5th. The utilities provider reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). The firm had revenue of $83.50 million for the quarter, compared to the consensus estimate of $89.61 million. Clean Energy Fuels had a negative net margin of 42.05% and a negative return on equity of 2.82%. The firm’s revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the company earned ($0.03) earnings per share. Equities research analysts forecast that Clean Energy Fuels will post -0.19 EPS for the current fiscal year.

In related news, CEO Andrew J. Littlefair acquired 25,000 shares of the stock in a transaction dated Thursday, May 12th. The shares were bought at an average cost of $4.09 per share, for a total transaction of $102,250.00. Following the purchase, the chief executive officer now owns 1,551,374 shares in the company, valued at approximately $6,345,119.66. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 3.40% of the stock is owned by company insiders.

Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its position in Clean Energy Fuels by 2.7% in the fourth quarter. BlackRock Inc. now owns 14,149,739 shares of the utilities provider’s stock valued at $86,737,000 after buying an additional 370,209 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC raised its stake in shares of Clean Energy Fuels by 63.7% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 12,206,099 shares of the utilities provider’s stock valued at $99,480,000 after acquiring an additional 4,748,846 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Clean Energy Fuels by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 9,513,320 shares of the utilities provider’s stock worth $75,535,000 after acquiring an additional 177,210 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Clean Energy Fuels by 1.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 7,272,602 shares of the utilities provider’s stock worth $57,745,000 after acquiring an additional 115,935 shares during the last quarter. Finally, Global Alpha Capital Management Ltd. grew its position in Clean Energy Fuels by 14.3% during the 1st quarter. Global Alpha Capital Management Ltd. now owns 4,236,375 shares of the utilities provider’s stock worth $33,637,000 after acquiring an additional 531,100 shares during the last quarter. Institutional investors and hedge funds own 42.21% of the company’s stock.

About Clean Energy Fuels (Get Rating)

Clean Energy Fuels Corp. provides natural gas as an alternative fuel for vehicle fleets and related fueling solutions, primarily 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.

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