StockNews.com Changes Rating on Clean Energy Fuels (NASDAQ:CLNE) to Sell

Equity research analysts at StockNews.com have amended their recommendation for the shares of Clean Energy Fuels (NASDAQ:CLNE), stating a new 'sell' rating for the company in their latest research note released on Friday. This modification comes amidst a wave of varied analyst insights on the stock's potential.

Analyst Opinions on Clean Energy Fuels

Notably, Northland Securities began coverage on CLNE assigning an 'outperform' status with a target price of $7.50. Contrarily, TheStreet downgraded CLNE from a 'c-' to a 'd' rating. Meanwhile, Raymond James upgraded Clean Energy Fuels to a 'strong-buy' rating and established a price target of $6.00. An optimistic outlook was also shared by Piper Sandler, as the firm raised its price target from $7.00 to $8.00, maintaining a 'buy' rating. Lastly, Stifel Nicolaus increased their price target from $6.00 to $7.00 for CLNE sticking to their 'buy' recommendation.

In summation, the company has received mixed ratings from the market analysts. It boasts one 'sell' rating, one 'hold' rating, four 'buy' ratings, and one 'strong buy' rating, resulting in a consensus of a 'Moderate Buy' rating. The average analyst price target for Clean Energy Fuels currently stands at $9.71.

Stock Performance Insights

CLNE had an opening price point of $3.37 on the last trading day. With a debt-to-equity ratio of 0.21, current ratio of 3.06, and a quick ratio of 2.76, the company's financial health is observable. It has experienced a 52-week low of $3.06 and a high of $7.73, and currently holds a market capitalization of $751.41 million. Clean Energy Fuels trades with a negative PE ratio of -8.02 and a beta of 2.22, with moving averages over fifty and two hundred days being $3.89 and $4.27 respectively.

In its last earnings report on August 9th, Clean Energy Fuels posted a quarterly EPS of ($0.07), failing to meet the consensus estimate of ($0.02) by $0.05. The quarter's revenues amounted to $90.50 million, falling short of analysts' projections of $109.75 million. Year over year, the quarterly revenue saw a 6.9% decline. Analysts project that CLNE will have a yearly EPS of -0.39.

Institutional Investment Activity

Several institutional investors have altered their stakes in Clean Energy Fuels. Spire Wealth Management increased its shares by 200.4%, while Arkadios Wealth Advisors and Xponance Inc. have initiated new positions during the recent quarters. Similarly, Tower Research Capital LLC TRC and Arbor Capital Management Inc. ADV have expanded their investment in CLNE. Presently, 49.40% of CLNE's stock is held by institutional investors.

About Clean Energy Fuels Corp.

Based in Newport Beach, California, Clean Energy Fuels Corp. specializes in supplying natural gas as an alternative fuel for vehicle fleets in the United States and Canada. It provides renewable natural gas (RNG), compressed natural gas (CNG), and liquefied natural gas (LNG) to medium and heavy-duty vehicles, and also offers station operation and maintenance services for both public and private fleet customers.

StockNews, CleanEnergyFuels, NASDAQ, CLNE, Upgrade, Sell