Clean Energy Fuels (NASDAQ:CLNE) Cut to “Sell” at BidaskClub

BidaskClub downgraded shares of Clean Energy Fuels (NASDAQ:CLNE) from a hold rating to a sell rating in a research report report published on Saturday morning, BidAskClub reports.

CLNE has been the subject of several other research reports. Zacks Investment Research downgraded Clean Energy Fuels from a buy rating to a hold rating in a research note on Thursday, July 25th. ValuEngine upgraded Clean Energy Fuels from a sell rating to a hold rating in a research note on Thursday, July 11th.

Shares of CLNE stock opened at $2.04 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.80 and a quick ratio of 2.68. Clean Energy Fuels has a fifty-two week low of $1.61 and a fifty-two week high of $3.47. The stock’s 50-day moving average is $2.52 and its two-hundred day moving average is $2.64. The firm has a market cap of $417.61 million, a P/E ratio of -34.00 and a beta of 1.89.

Clean Energy Fuels (NASDAQ:CLNE) last issued its earnings results on Thursday, August 8th. The utilities provider reported ($0.03) earnings per share for the quarter, hitting the consensus estimate of ($0.03). The company had revenue of $72.32 million for the quarter. Clean Energy Fuels had a negative return on equity of 4.46% and a negative net margin of 6.29%. As a group, research analysts expect that Clean Energy Fuels will post -0.12 EPS for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its stake in shares of Clean Energy Fuels by 2.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 10,696,552 shares of the utilities provider’s stock worth $18,398,000 after acquiring an additional 232,198 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Clean Energy Fuels by 16.7% during the 2nd quarter. Renaissance Technologies LLC now owns 9,760,232 shares of the utilities provider’s stock worth $26,060,000 after acquiring an additional 1,399,300 shares in the last quarter. Nuveen Asset Management LLC bought a new stake in shares of Clean Energy Fuels during the 2nd quarter worth about $6,113,000. Northern Trust Corp boosted its stake in shares of Clean Energy Fuels by 1.9% during the 4th quarter. Northern Trust Corp now owns 1,635,848 shares of the utilities provider’s stock worth $2,815,000 after acquiring an additional 30,811 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Clean Energy Fuels by 11.0% during the 4th quarter. Geode Capital Management LLC now owns 1,609,843 shares of the utilities provider’s stock worth $2,768,000 after acquiring an additional 159,582 shares in the last quarter. Institutional investors own 29.98% of the company’s stock.

About Clean Energy Fuels

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

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