Clean Energy Fuels (CLNE) Lowered to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of Clean Energy Fuels (NASDAQ:CLNE) from a hold rating to a sell rating in a report released on Tuesday.

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 analysts have also weighed in on the company. BidaskClub lowered Clean Energy Fuels from a sell rating to a strong sell rating in a research note on Tuesday. ValuEngine lowered Clean Energy Fuels from a sell rating to a strong sell rating in a research note on Tuesday, November 7th.

Shares of Clean Energy Fuels (NASDAQ CLNE) opened at $2.18 on Tuesday. The firm has a market capitalization of $329.37, a PE ratio of -5.89 and a beta of 1.85. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.52 and a quick ratio of 3.05. Clean Energy Fuels has a 12 month low of $1.96 and a 12 month high of $3.12.

Clean Energy Fuels (NASDAQ:CLNE) last released its quarterly earnings data on Thursday, November 2nd. The utilities provider reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.49). The business had revenue of $81.80 million during the quarter, compared to analyst estimates of $85.43 million. Clean Energy Fuels had a negative net margin of 15.47% and a negative return on equity of 10.52%. The business’s quarterly revenue was down 15.7% compared to the same quarter last year. During the same period last year, the business earned ($0.08) earnings per share. equities analysts predict that Clean Energy Fuels will post -0.44 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the company. BlueCrest Capital Management Ltd boosted its stake in shares of Clean Energy Fuels by 279.1% during the second quarter. BlueCrest Capital Management Ltd now owns 45,868 shares of the utilities provider’s stock valued at $117,000 after purchasing an additional 33,768 shares in the last quarter. Voya Investment Management LLC boosted its stake in shares of Clean Energy Fuels by 44.0% during the second quarter. Voya Investment Management LLC now owns 54,979 shares of the utilities provider’s stock valued at $140,000 after purchasing an additional 16,808 shares in the last quarter. OxFORD Asset Management LLP boosted its stake in shares of Clean Energy Fuels by 123.6% during the second quarter. OxFORD Asset Management LLP now owns 58,068 shares of the utilities provider’s stock valued at $147,000 after purchasing an additional 32,096 shares in the last quarter. KBC Group NV boosted its stake in shares of Clean Energy Fuels by 24.4% during the second quarter. KBC Group NV now owns 61,525 shares of the utilities provider’s stock valued at $156,000 after purchasing an additional 12,087 shares in the last quarter. Finally, Parametric Portfolio Associates LLC boosted its stake in shares of Clean Energy Fuels by 147.3% during the second quarter. Parametric Portfolio Associates LLC now owns 75,095 shares of the utilities provider’s stock valued at $191,000 after purchasing an additional 44,728 shares in the last quarter. 35.47% of the stock is currently owned by hedge funds and other institutional investors.

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Clean Energy Fuels Company Profile

Clean Energy Fuels Corp. (Clean Energy) is a provider of natural gas as an alternative fuel for vehicle fleets in the United States and Canada. The Company is engaged in supplying compressed natural gas (CNG), liquefied natural gas (LNG) and renewable natural gas (RNG) for light, medium and heavy-duty vehicles, and providing operation and maintenance (O&M) services for natural gas fueling stations.

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