Clean Energy Fuels (NASDAQ:CLNE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday. The brokerage currently has a $3.25 target price on the utilities provider’s stock. Zacks Investment Research‘s price objective points to a potential upside of 11.68% from the stock’s previous close.
According to Zacks, “CLEAN ENERGY FUELS, based in Seal Beach, Calif., is the leading provider of natural gas (CNG and LNG) for transportation in North America. It has a broad customer base in the refuse, transit, ports, shuttle, taxi, intrastate and interstate trucking, airport and municipal fleet markets,across the United States and Canada. “
Several other brokerages also recently commented on CLNE. BidaskClub upgraded Clean Energy Fuels from a “hold” rating to a “buy” rating in a report on Wednesday, May 23rd. ValuEngine upgraded Clean Energy Fuels from a “sell” rating to a “hold” rating in a report on Wednesday, May 2nd.
Shares of Clean Energy Fuels opened at $2.91 on Friday, MarketBeat Ratings reports. Clean Energy Fuels has a 12 month low of $1.31 and a 12 month high of $3.52. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.41 and a current ratio of 1.58. The company has a market cap of $440.82 million, a price-to-earnings ratio of -5.49 and a beta of 1.66.
Clean Energy Fuels (NASDAQ:CLNE) last announced its quarterly earnings results on Thursday, May 10th. The utilities provider reported $0.08 EPS for the quarter, beating the consensus estimate of $0.07 by $0.01. Clean Energy Fuels had a negative return on equity of 26.23% and a negative net margin of 36.13%. The company had revenue of $102.40 million for the quarter. sell-side analysts anticipate that Clean Energy Fuels will post -0.09 earnings per share for the current fiscal year.
In other Clean Energy Fuels news, CFO Robert M. Vreeland acquired 17,300 shares of Clean Energy Fuels stock in a transaction dated Friday, May 18th. The stock was bought at an average cost of $2.32 per share, with a total value of $40,136.00. Following the completion of the transaction, the chief financial officer now owns 306,704 shares of the company’s stock, valued at $711,553.28. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder S.A. Total acquired 50,856,296 shares of Clean Energy Fuels stock in a transaction dated Friday, June 8th. The stock was acquired at an average cost of $1.64 per share, with a total value of $83,404,325.44. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 50,940,596 shares of company stock worth $83,601,461. Corporate insiders own 13.20% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Millennium Management LLC boosted its position in shares of Clean Energy Fuels by 27.6% in the first quarter. Millennium Management LLC now owns 1,282,388 shares of the utilities provider’s stock valued at $2,116,000 after acquiring an additional 277,147 shares during the period. A.R.T. Advisors LLC bought a new stake in shares of Clean Energy Fuels in the first quarter valued at approximately $466,000. Dimensional Fund Advisors LP boosted its position in shares of Clean Energy Fuels by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 8,723,418 shares of the utilities provider’s stock valued at $14,394,000 after acquiring an additional 31,346 shares during the period. California Public Employees Retirement System boosted its position in shares of Clean Energy Fuels by 28.9% in the first quarter. California Public Employees Retirement System now owns 244,230 shares of the utilities provider’s stock valued at $403,000 after acquiring an additional 54,730 shares during the period. Finally, First Republic Investment Management Inc. bought a new stake in shares of Clean Energy Fuels in the first quarter valued at approximately $314,000. 31.51% of the stock is owned by institutional investors.
About Clean Energy Fuels
Clean Energy Fuels Corp. provides natural gas as an alternative fuel for vehicle fleets in the United States and Canada. The company supplies renewable natural gas (RNG), compressed natural gas (CNG), and liquefied natural gas (LNG) for light, medium, and heavy-duty vehicles; and provides operation and maintenance services for vehicle fleet customer stations.
Get a free copy of the Zacks research report on Clean Energy Fuels (CLNE)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Clean Energy Fuels Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Clean Energy Fuels and related companies with MarketBeat.com's FREE daily email newsletter.