Analysts Set Clean Energy Fuels Corp. (NASDAQ:CLNE) Target Price at $5.60

Clean Energy Fuels Corp. (NASDAQ:CLNE) has been given an average recommendation of “Buy” by the five ratings firms that are presently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $5.60.

A number of equities research analysts have issued reports on the stock. Piper Sandler reduced their price objective on shares of Clean Energy Fuels from $7.00 to $4.00 and set an “overweight” rating on the stock in a research note on Thursday, April 18th. Raymond James reduced their price objective on shares of Clean Energy Fuels from $6.00 to $5.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, April 3rd. StockNews.com upgraded shares of Clean Energy Fuels to a “sell” rating in a research note on Tuesday, April 9th. Stifel Nicolaus reduced their price target on shares of Clean Energy Fuels from $8.00 to $6.50 and set a “buy” rating on the stock in a research note on Tuesday, January 23rd. Finally, Scotiabank reduced their price target on shares of Clean Energy Fuels from $6.00 to $5.00 and set a “sector outperform” rating on the stock in a research note on Thursday, April 11th.

Clean Energy Fuels Trading Up 8.0 %

Shares of Clean Energy Fuels stock opened at $2.43 on Tuesday. The company has a market capitalization of $542.52 million, a price-to-earnings ratio of -5.52 and a beta of 2.06. The company has a quick ratio of 2.59, a current ratio of 2.87 and a debt-to-equity ratio of 0.36. Clean Energy Fuels has a 12-month low of $2.17 and a 12-month high of $5.25. The firm’s 50-day moving average price is $2.60 and its two-hundred day moving average price is $3.18.

Clean Energy Fuels (NASDAQ:CLNE) last announced its quarterly earnings data on Tuesday, February 27th. The utilities provider reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.02. The firm had revenue of $106.86 million for the quarter, compared to the consensus estimate of $106.50 million. Clean Energy Fuels had a negative net margin of 23.40% and a negative return on equity of 14.05%. On average, analysts forecast that Clean Energy Fuels will post -0.44 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Clean Energy Fuels

A number of hedge funds have recently made changes to their positions in the stock. Schonfeld Strategic Advisors LLC bought a new position in Clean Energy Fuels in the 3rd quarter valued at approximately $6,997,000. Dimensional Fund Advisors LP raised its holdings in Clean Energy Fuels by 6.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 12,314,636 shares of the utilities provider’s stock valued at $47,167,000 after buying an additional 702,049 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in Clean Energy Fuels in the 4th quarter valued at approximately $1,566,000. Rice Hall James & Associates LLC raised its holdings in Clean Energy Fuels by 25.6% in the 3rd quarter. Rice Hall James & Associates LLC now owns 1,169,170 shares of the utilities provider’s stock valued at $4,478,000 after buying an additional 238,165 shares during the last quarter. Finally, Manatuck Hill Partners LLC bought a new position in Clean Energy Fuels in the 3rd quarter valued at approximately $555,000. 49.94% of the stock is currently owned by institutional investors and hedge funds.

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.