Clean Energy Fuels (NASDAQ:CLNE) Trading Down 3.7% – What’s Next?

Shares of Clean Energy Fuels Corp. (NASDAQ:CLNE) dropped 3.7% during trading on Friday . The stock traded as low as $2.87 and last traded at $2.88. Approximately 369,176 shares changed hands during trading, a decline of 77% from the average daily volume of 1,581,338 shares. The stock had previously closed at $2.99.

Analyst Upgrades and Downgrades

CLNE has been the subject of a number of recent research reports. StockNews.com upgraded shares of Clean Energy Fuels to a “sell” rating in a report on Wednesday, August 14th. Scotiabank boosted their price target on shares of Clean Energy Fuels from $5.00 to $6.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, September 3rd. 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $5.38.

Clean Energy Fuels Stock Performance

The company has a debt-to-equity ratio of 0.36, a current ratio of 3.17 and a quick ratio of 2.82. The stock has a market cap of $645.23 million, a PE ratio of -8.26 and a beta of 2.12. The business has a 50 day moving average price of $3.01 and a two-hundred day moving average price of $2.73.

Clean Energy Fuels (NASDAQ:CLNE) last announced its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.05. The business had revenue of $97.95 million during the quarter, compared to analysts’ expectations of $106.45 million. Clean Energy Fuels had a negative net margin of 19.61% and a negative return on equity of 8.75%. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.07) EPS. As a group, equities research analysts forecast that Clean Energy Fuels Corp. will post -0.34 EPS for the current fiscal year.

Institutional Trading of Clean Energy Fuels

Several large investors have recently modified their holdings of the business. Tidal Investments LLC bought a new position in Clean Energy Fuels during the 1st quarter valued at approximately $33,000. DRW Securities LLC purchased a new position in shares of Clean Energy Fuels during the second quarter valued at approximately $38,000. Algert Global LLC purchased a new position in shares of Clean Energy Fuels during the second quarter valued at approximately $45,000. Pinnacle Wealth Planning Services Inc. bought a new position in shares of Clean Energy Fuels during the first quarter valued at approximately $52,000. Finally, Sei Investments Co. purchased a new stake in Clean Energy Fuels in the second quarter worth $74,000. 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.