Clean Energy Fuels (NASDAQ:CLNE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Thursday.
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. “
CLNE has been the subject of several other reports. BidaskClub cut Clean Energy Fuels from a “hold” rating to a “sell” rating in a research note on Thursday, November 22nd. ValuEngine raised Clean Energy Fuels from a “sell” rating to a “hold” rating in a research note on Tuesday, October 2nd.
CLNE opened at $2.11 on Thursday. Clean Energy Fuels has a 12 month low of $1.31 and a 12 month high of $4.05. The company has a current ratio of 2.09, a quick ratio of 1.89 and a debt-to-equity ratio of 0.24.
Clean Energy Fuels (NASDAQ:CLNE) last released its earnings results on Wednesday, November 7th. The utilities provider reported ($0.05) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.05). Clean Energy Fuels had a negative return on equity of 7.40% and a negative net margin of 11.49%. The firm had revenue of $77.32 million during the quarter, compared to analysts’ expectations of $85.50 million. On average, equities analysts expect that Clean Energy Fuels will post -0.11 EPS for the current fiscal year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP acquired a new position in Clean Energy Fuels during the 2nd quarter worth $166,000. Metropolitan Life Insurance Co. NY purchased a new stake in Clean Energy Fuels during the 2nd quarter worth about $180,000. Highland Capital Management LP purchased a new stake in Clean Energy Fuels during the 3rd quarter worth about $130,000. Manatuck Hill Partners LLC purchased a new stake in Clean Energy Fuels during the 2nd quarter worth about $185,000. Finally, MetLife Investment Advisors LLC purchased a new stake in Clean Energy Fuels during the 2nd quarter worth about $254,000. 27.01% of the stock is owned by hedge funds and other 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.
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