BidaskClub Upgrades Clean Energy Fuels (NASDAQ:CLNE) to Buy

Clean Energy Fuels (NASDAQ:CLNE) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Wednesday, BidAskClub reports.

Other research analysts also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Golub Capital BDC from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research report on Tuesday. ValuEngine upgraded shares of Zillow Group from a “hold” rating to a “buy” rating in a research report on Thursday, July 11th.

Shares of NASDAQ CLNE opened at $2.70 on Wednesday. The company has a quick ratio of 2.68, a current ratio of 3.16 and a debt-to-equity ratio of 0.20. Clean Energy Fuels has a 52-week low of $1.61 and a 52-week high of $3.47. The stock has a 50 day moving average price of $2.61. The firm has a market cap of $544.38 million, a P/E ratio of -45.00 and a beta of 1.93.

Clean Energy Fuels (NASDAQ:CLNE) last released its earnings results on Thursday, May 9th. The utilities provider reported ($0.02) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.01. Clean Energy Fuels had a negative net margin of 8.38% and a negative return on equity of 5.43%. The company had revenue of $77.70 million for the quarter. On average, sell-side analysts expect that Clean Energy Fuels will post -0.12 earnings per share for the current year.

Several institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers grew its holdings in shares of Clean Energy Fuels by 41.1% during the 4th quarter. Rhumbline Advisers now owns 197,840 shares of the utilities provider’s stock valued at $340,000 after acquiring an additional 57,619 shares in the last quarter. Prudential Financial Inc. purchased a new position in shares of Clean Energy Fuels during the 4th quarter valued at $27,000. BlackRock Inc. grew its holdings in shares of Clean Energy Fuels by 5.8% during the 4th quarter. BlackRock Inc. now owns 9,555,869 shares of the utilities provider’s stock valued at $16,436,000 after acquiring an additional 528,045 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Clean Energy Fuels by 28.7% during the 4th quarter. Bank of New York Mellon Corp now owns 654,752 shares of the utilities provider’s stock valued at $1,126,000 after acquiring an additional 145,970 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Clean Energy Fuels by 1.9% during the 4th quarter. Northern Trust Corp now owns 1,635,848 shares of the utilities provider’s stock valued at $2,815,000 after acquiring an additional 30,811 shares in the last quarter. Institutional investors own 28.44% of the company’s stock.

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 offers operation and maintenance services for public and private vehicle fleet customer stations.

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