Clean Energy Fuels (NASDAQ:CLNE) Given New $6.00 Price Target at Scotiabank

Clean Energy Fuels (NASDAQ:CLNE - Free Report) had its price target upped by Scotiabank from $5.00 to $6.00 in a research note released on Tuesday, Benzinga reports. The brokerage currently has a sector outperform rating on the utilities provider's stock.

Separately, StockNews.com raised shares of Clean Energy Fuels to a sell rating in a research note on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $5.80.

Clean Energy Fuels Trading Down 7.1 %

CLNE stock traded down $0.22 during trading on Tuesday, reaching $2.87. The company had a trading volume of 2,064,413 shares, compared to its average volume of 1,656,571. Clean Energy Fuels has a 52 week low of $2.17 and a 52 week high of $4.93. The company has a market cap of $641.24 million, a P/E ratio of -8.34 and a beta of 2.15. The business has a 50 day moving average of $2.77 and a 200 day moving average of $2.68. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.17 and a quick ratio of 2.82.

Clean Energy Fuels (NASDAQ:CLNE - Get Free Report) last announced its earnings results on Wednesday, August 7th. The utilities provider reported $0.01 earnings per share for the quarter, beating analysts' consensus estimates of ($0.04) by $0.05. Clean Energy Fuels had a negative net margin of 19.61% and a negative return on equity of 8.75%. The business had revenue of $97.95 million during the quarter, compared to the consensus estimate of $106.45 million. During the same quarter last year, the firm earned ($0.07) earnings per share. The business's revenue for the quarter was up 8.2% on a year-over-year basis. As a group, sell-side analysts forecast that Clean Energy Fuels will post -0.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Clean Energy Fuels

Large investors have recently made changes to their positions in the company. Brown Advisory Inc. boosted its stake in shares of Clean Energy Fuels by 24.3% during the 4th quarter. Brown Advisory Inc. now owns 49,736 shares of the utilities provider's stock worth $190,000 after purchasing an additional 9,736 shares during the period. BNP Paribas Financial Markets grew its stake in Clean Energy Fuels by 271.6% in the 4th quarter. BNP Paribas Financial Markets now owns 145,256 shares of the utilities provider's stock worth $556,000 after acquiring an additional 106,162 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Clean Energy Fuels by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,367,278 shares of the utilities provider's stock worth $5,237,000 after acquiring an additional 19,616 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Clean Energy Fuels by 6.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 12,314,636 shares of the utilities provider's stock worth $47,167,000 after acquiring an additional 702,049 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in Clean Energy Fuels by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 10,101,301 shares of the utilities provider's stock worth $27,071,000 after acquiring an additional 100,271 shares in the last quarter. 49.94% of the stock is owned by hedge funds and other institutional investors.

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.