Clean Energy Fuels (NASDAQ:CLNE) Earns "Strong-Buy" Rating from Raymond James

Raymond James restated their strong-buy rating on shares of Clean Energy Fuels (NASDAQ:CLNE - Free Report) in a report released on Tuesday morning,Benzinga reports. They currently have a $4.00 price objective on the utilities provider's stock, down from their previous price objective of $5.00.

Separately, StockNews.com upgraded shares of Clean Energy Fuels from a "sell" rating to a "hold" rating in a research report on Tuesday, February 4th.

Clean Energy Fuels Price Performance

Shares of CLNE stock traded up $0.02 during trading on Tuesday, hitting $2.04. The company had a trading volume of 2,946,195 shares, compared to its average volume of 3,107,937. The stock's 50-day moving average price is $2.90 and its 200 day moving average price is $2.92. Clean Energy Fuels has a one year low of $1.81 and a one year high of $3.67. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.74 and a current ratio of 3.06. The firm has a market capitalization of $455.85 million, a P/E ratio of -6.58 and a beta of 2.18.

Clean Energy Fuels (NASDAQ:CLNE - Get Free Report) last posted its quarterly earnings data on Monday, February 24th. The utilities provider reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.04. Clean Energy Fuels had a negative net margin of 17.32% and a negative return on equity of 7.59%. The business had revenue of $109.33 million during the quarter, compared to analysts' expectations of $102.60 million. During the same quarter in the prior year, the business posted $0.01 earnings per share. Equities analysts expect that Clean Energy Fuels will post -0.33 EPS for the current fiscal year.

Insider Activity

In related news, CFO Robert M. Vreeland acquired 15,000 shares of the company's stock in a transaction that occurred on Wednesday, February 26th. The stock was acquired at an average price of $1.94 per share, with a total value of $29,100.00. Following the purchase, the chief financial officer now directly owns 458,800 shares in the company, valued at approximately $890,072. This trade represents a 3.38 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 3.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Clean Energy Fuels

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Barclays PLC grew its holdings in shares of Clean Energy Fuels by 252.1% during the third quarter. Barclays PLC now owns 266,104 shares of the utilities provider's stock worth $828,000 after purchasing an additional 190,520 shares during the last quarter. JPMorgan Chase & Co. increased its position in Clean Energy Fuels by 309.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 730,218 shares of the utilities provider's stock valued at $2,271,000 after purchasing an additional 551,896 shares during the period. IMC Chicago LLC lifted its position in shares of Clean Energy Fuels by 7.4% in the 4th quarter. IMC Chicago LLC now owns 131,122 shares of the utilities provider's stock worth $329,000 after purchasing an additional 9,021 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of Clean Energy Fuels by 167.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 37,224 shares of the utilities provider's stock valued at $116,000 after purchasing an additional 23,301 shares during the last quarter. Finally, State Street Corp raised its stake in Clean Energy Fuels by 0.5% during the third quarter. State Street Corp now owns 5,923,358 shares of the utilities provider's stock worth $18,422,000 after buying an additional 31,602 shares during the last quarter. Institutional investors own 49.94% of the company's stock.

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.