Clean Energy Fuels (NASDAQ:CLNE) Stock Price Up 11.2%

Clean Energy Fuels Corp. (NASDAQ:CLNE) rose 11.2% during trading on Wednesday . The stock traded as high as $2.99 and last traded at $2.97. Approximately 1,981,193 shares were traded during trading, an increase of 19% from the average daily volume of 1,661,452 shares. The stock had previously closed at $2.67.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CLNE. Raymond James lowered 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. Scotiabank decreased 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 report on Thursday, April 11th. StockNews.com raised shares of Clean Energy Fuels to a “sell” rating in a research report on Monday, May 13th. Finally, Piper Sandler decreased their target price on Clean Energy Fuels from $7.00 to $4.00 and set an “overweight” rating on the stock in a report on Thursday, April 18th. One research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $5.60.

Clean Energy Fuels Price Performance

The firm has a market cap of $636.29 million, a PE ratio of -8.14 and a beta of 2.15. The firm’s fifty day simple moving average is $2.67 and its two-hundred day simple moving average is $2.70. The company has a quick ratio of 2.80, a current ratio of 3.14 and a debt-to-equity ratio of 0.36.

Clean Energy Fuels (NASDAQ:CLNE) last released its earnings results on Thursday, May 9th. The utilities provider reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.05. Clean Energy Fuels had a negative net margin of 19.98% and a negative return on equity of 11.09%. The company had revenue of $103.71 million for the quarter, compared to analysts’ expectations of $106.63 million. As a group, research analysts expect that Clean Energy Fuels Corp. will post -0.4 EPS for the current year.

Institutional Trading of Clean Energy Fuels

Several institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp boosted its stake in Clean Energy Fuels by 11.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 642,202 shares of the utilities provider’s stock worth $1,715,000 after purchasing an additional 66,523 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Clean Energy Fuels by 411.7% in the second quarter. SG Americas Securities LLC now owns 149,943 shares of the utilities provider’s stock worth $400,000 after buying an additional 120,639 shares in the last quarter. Tidal Investments LLC bought a new position in shares of Clean Energy Fuels during the first quarter worth $33,000. Caxton Associates LP grew its stake in Clean Energy Fuels by 82.6% during the first quarter. Caxton Associates LP now owns 171,911 shares of the utilities provider’s stock valued at $461,000 after acquiring an additional 77,744 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in Clean Energy Fuels by 33.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 105,763 shares of the utilities provider’s stock valued at $284,000 after acquiring an additional 26,356 shares during the last quarter. Hedge funds and other institutional investors own 49.94% of the company’s stock.

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.