Clean Energy Fuels (NASDAQ:CLNE) Trading Down 6.9% – Should You Sell?

Clean Energy Fuels Corp. (NASDAQ:CLNE)’s share price fell 6.9% on Wednesday . The stock traded as low as $2.37 and last traded at $2.3650. 710,797 shares were traded during trading, a decline of 45% from the average session volume of 1,299,665 shares. The stock had previously closed at $2.54.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Clean Energy Fuels in a report on Wednesday, January 21st. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $3.49.

Clean Energy Fuels Stock Down 1.3%

The business has a 50-day moving average of $2.40 and a 200-day moving average of $2.40. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.03 and a current ratio of 2.32. The stock has a market capitalization of $495.91 million, a price-to-earnings ratio of -2.26 and a beta of 2.03.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of CLNE. NewEdge Advisors LLC boosted its position in shares of Clean Energy Fuels by 1,419,900.0% during the second quarter. NewEdge Advisors LLC now owns 14,200 shares of the utilities provider’s stock worth $28,000 after buying an additional 14,199 shares during the period. BNP Paribas Financial Markets boosted its position in shares of Clean Energy Fuels by 54.8% during the second quarter. BNP Paribas Financial Markets now owns 14,844 shares of the utilities provider’s stock worth $29,000 after buying an additional 5,254 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Clean Energy Fuels during the third quarter worth $31,000. Mercer Global Advisors Inc. ADV purchased a new position in shares of Clean Energy Fuels during the fourth quarter worth $31,000. Finally, CWM LLC boosted its position in shares of Clean Energy Fuels by 40.3% during the fourth quarter. CWM LLC now owns 16,683 shares of the utilities provider’s stock worth $35,000 after buying an additional 4,791 shares during the period. 49.94% of the stock is currently owned by hedge funds and other institutional investors.

About Clean Energy Fuels

Clean Energy Fuels Corp., founded in 1997 and headquartered in Newport Beach, California, is a leading provider of natural gas and renewable natural gas (RNG) fuel for the transportation sector. The company operates a network of more than 500 fueling stations across the United States and Canada, supplying compressed natural gas (CNG), liquefied natural gas (LNG) and RNG derived from organic waste streams. Clean Energy serves a diverse customer base that includes commercial trucking fleets, public transit agencies, refuse haulers and municipal vehicle operators.

In addition to fuel supply, Clean Energy offers turnkey station design, construction and ongoing maintenance services, as well as fueling hardware and project management.