Clean Energy Fuels (NASDAQ:CLNE) PT Lowered to $4.00 at Piper Sandler

Clean Energy Fuels (NASDAQ:CLNE) had its target price decreased by Piper Sandler from $7.00 to $4.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the utilities provider’s stock. Piper Sandler’s target price suggests a potential upside of 74.67% from the company’s previous close.

Several other equities analysts also recently commented on CLNE. Stifel Nicolaus lowered their price target 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. Raymond James lowered their price objective on shares of Clean Energy Fuels from $6.00 to $5.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, April 3rd. StockNews.com upgraded shares of Clean Energy Fuels to a “sell” rating in a research note on Tuesday, April 9th. Finally, Scotiabank lowered their price objective on shares of Clean Energy Fuels from $6.00 to $5.00 and set a “sector outperform” rating on the stock in a research note on Thursday, April 11th. One research analyst has rated the stock with a sell rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Clean Energy Fuels presently has an average rating of “Moderate Buy” and an average target price of $5.60.

Clean Energy Fuels Stock Performance

Shares of NASDAQ CLNE remained flat at $2.29 during mid-day trading on Thursday. 148,186 shares of the stock were exchanged, compared to its average volume of 1,642,657. The business has a 50-day simple moving average of $2.71 and a two-hundred day simple moving average of $3.25. The company has a quick ratio of 2.59, a current ratio of 2.87 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $511.27 million, a P/E ratio of -5.20 and a beta of 2.06. Clean Energy Fuels has a 1-year low of $2.22 and a 1-year high of $5.25.

Clean Energy Fuels (NASDAQ:CLNE) last issued its quarterly earnings data on Tuesday, February 27th. The utilities provider reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.02. The firm had revenue of $106.86 million for the quarter, compared to analyst estimates of $106.50 million. Clean Energy Fuels had a negative net margin of 23.40% and a negative return on equity of 14.05%. Sell-side analysts forecast that Clean Energy Fuels will post -0.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CLNE. Grassi Investment Management bought a new position in shares of Clean Energy Fuels during the first quarter valued at $36,000. Arkadios Wealth Advisors bought a new position in shares of Clean Energy Fuels during the third quarter valued at $38,000. Prio Wealth Limited Partnership bought a new position in shares of Clean Energy Fuels during the fourth quarter valued at $38,000. Xponance Inc. bought a new position in shares of Clean Energy Fuels during the third quarter valued at $39,000. Finally, Sunbelt Securities Inc. raised its holdings in shares of Clean Energy Fuels by 1,052.6% in the third quarter. Sunbelt Securities Inc. now owns 10,950 shares of the utilities provider’s stock valued at $42,000 after buying an additional 10,000 shares during the last quarter. 49.94% of the stock is owned by institutional investors.

About Clean Energy Fuels

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.