Clean Energy Fuels (NASDAQ:CLNE) Reaches New 1-Year Low at $2.32

Shares of Clean Energy Fuels Corp. (NASDAQ:CLNE) hit a new 52-week low on Monday . The stock traded as low as $2.32 and last traded at $2.32, with a volume of 1091210 shares. The stock had previously closed at $2.44.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. StockNews.com raised shares of Clean Energy Fuels to a “sell” rating in a research report on Tuesday, April 9th. Scotiabank lowered their price objective on shares of Clean Energy Fuels from $6.00 to $5.00 and set a “sector outperform” rating for the company in a research note on Thursday, April 11th. Raymond James dropped their price objective on Clean Energy Fuels from $6.00 to $5.00 and set a “strong-buy” rating for the company in a report on Wednesday, April 3rd. Finally, Stifel Nicolaus reduced their target price on Clean Energy Fuels from $8.00 to $6.50 and set a “buy” rating on the stock in a report on Tuesday, January 23rd. One analyst has rated the stock with a sell rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Clean Energy Fuels has a consensus rating of “Moderate Buy” and an average price target of $6.40.

Clean Energy Fuels Stock Down 1.7 %

The firm’s 50 day simple moving average is $2.72 and its 200-day simple moving average is $3.25. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.59 and a current ratio of 2.87.

Clean Energy Fuels (NASDAQ:CLNE) last announced its quarterly earnings results on Tuesday, February 27th. The utilities provider reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.02. Clean Energy Fuels had a negative net margin of 23.40% and a negative return on equity of 14.05%. The firm had revenue of $106.86 million during the quarter, compared to analysts’ expectations of $106.50 million. On average, research analysts predict that Clean Energy Fuels Corp. will post -0.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Clean Energy Fuels

Several hedge funds and other institutional investors have recently bought and sold shares of CLNE. Grassi Investment Management acquired a new position in shares of Clean Energy Fuels in the first quarter worth about $36,000. Arkadios Wealth Advisors acquired a new stake in Clean Energy Fuels during the 3rd quarter valued at approximately $38,000. Prio Wealth Limited Partnership purchased a new stake in Clean Energy Fuels during the 4th quarter worth approximately $38,000. Xponance Inc. acquired a new position in shares of Clean Energy Fuels in the 3rd quarter valued at approximately $39,000. Finally, Sunbelt Securities Inc. raised its position in shares of Clean Energy Fuels by 1,052.6% in the 3rd quarter. Sunbelt Securities Inc. now owns 10,950 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 10,000 shares in the last quarter. 49.94% of the stock is owned by institutional investors and hedge funds.

Clean Energy Fuels Company Profile

Clean Energy Fuels Corp. provides natural gas as alternative fuels for vehicle fleets and related fueling solutions in the United States and Canada. It supplies renewable natural gas (RNG), compressed natural gas (CNG), and liquefied natural gas (LNG) for medium and heavy-duty vehicles; and offers operation and maintenance services for public and private vehicle fleet customer stations.