Clean Energy Fuels (NASDAQ:CLNE) Downgraded to Sell Rating by StockNews.com

StockNews.com cut shares of Clean Energy Fuels (NASDAQ:CLNE) from a hold rating to a sell rating in a research note released on Monday.

Clean Energy Fuels Stock Performance

CLNE stock opened at $3.17 on Monday. The firm has a market cap of $707.25 million, a price-to-earnings ratio of -10.21 and a beta of 2.16. Clean Energy Fuels has a twelve month low of $2.17 and a twelve month high of $3.37. The company has a quick ratio of 2.74, a current ratio of 3.06 and a debt-to-equity ratio of 0.36. The business’s fifty day simple moving average is $2.79 and its two-hundred day simple moving average is $2.87.

Clean Energy Fuels (NASDAQ:CLNE) last issued its earnings results on Wednesday, November 6th. The utilities provider reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.04. The business had revenue of $104.90 million for the quarter, compared to the consensus estimate of $100.64 million. Clean Energy Fuels had a negative net margin of 17.32% and a negative return on equity of 7.59%. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.12) EPS. Analysts predict that Clean Energy Fuels will post -0.33 earnings per share for the current year.

Institutional Trading of Clean Energy Fuels

Several institutional investors and hedge funds have recently made changes to their positions in CLNE. JPMorgan Chase & Co. grew its holdings 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 worth $2,271,000 after acquiring an additional 551,896 shares in the last quarter. Barclays PLC boosted its stake 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 valued at $828,000 after purchasing an additional 190,520 shares in the last quarter. Inspire Investing LLC bought a new position in shares of Clean Energy Fuels during the third quarter valued at approximately $411,000. HITE Hedge Asset Management LLC increased its holdings in Clean Energy Fuels by 26.8% during the third quarter. HITE Hedge Asset Management LLC now owns 603,533 shares of the utilities provider’s stock valued at $1,877,000 after buying an additional 127,712 shares during the period. Finally, Geode Capital Management LLC raised its stake in Clean Energy Fuels by 3.1% in the third quarter. Geode Capital Management LLC now owns 4,203,217 shares of the utilities provider’s stock worth $13,075,000 after buying an additional 126,760 shares in the last quarter. 49.94% of the stock is currently 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.