Clean Energy Fuels (NASDAQ:CLNE) Stock Price Up 3.8% Following Analyst Upgrade

Clean Energy Fuels Corp. (NASDAQ:CLNE - Get Free Report) traded up 3.8% during trading on Wednesday after Scotiabank raised their price target on the stock from $5.00 to $6.00. Scotiabank currently has a sector outperform rating on the stock. Clean Energy Fuels traded as high as $3.00 and last traded at $2.98. Approximately 250,456 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 1,647,737 shares. The stock had previously closed at $2.87.

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

Hedge Funds Weigh In On Clean Energy Fuels

Large investors have recently bought and sold shares of the business. New York State Common Retirement Fund raised its stake in Clean Energy Fuels by 11.6% in the 4th quarter. New York State Common Retirement Fund now owns 157,407 shares of the utilities provider's stock worth $603,000 after acquiring an additional 16,322 shares during the last quarter. Russell Investments Group Ltd. increased its stake in Clean Energy Fuels by 40.2% during the fourth quarter. Russell Investments Group Ltd. now owns 320,786 shares of the utilities provider's stock worth $1,229,000 after purchasing an additional 91,968 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Clean Energy Fuels by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,367,278 shares of the utilities provider's stock valued at $5,237,000 after acquiring an additional 19,616 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in Clean Energy Fuels by 271.6% in the fourth 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 during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Clean Energy Fuels by 6.0% during 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. Hedge funds and other institutional investors own 49.94% of the company's stock.

Clean Energy Fuels Price Performance

The stock has a market capitalization of $645.23 million, a PE ratio of -8.26 and a beta of 2.12. The stock's 50-day moving average is $2.78 and its 200 day moving average is $2.68. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.82 and a current ratio of 3.17.

Clean Energy Fuels (NASDAQ:CLNE - Get Free Report) last posted its 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. Clean Energy Fuels had a negative return on equity of 8.75% and a negative net margin of 19.61%. The company had revenue of $97.95 million for the quarter, compared to analyst estimates of $106.45 million. During the same quarter in the prior year, the company earned ($0.07) earnings per share. Clean Energy Fuels's revenue was up 8.2% compared to the same quarter last year. As a group, equities analysts expect that Clean Energy Fuels Corp. will post -0.34 earnings per share for the current year.

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.