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

StockNews.com lowered shares of Clean Energy Fuels (NASDAQ:CLNE) from a hold rating to a sell rating in a report published on Monday morning.

Clean Energy Fuels Stock Performance

CLNE opened at $3.26 on Monday. The stock’s 50 day simple moving average is $2.81 and its 200-day simple moving average is $2.88. The company has a current ratio of 3.06, a quick ratio of 2.74 and a debt-to-equity ratio of 0.36. The stock has a market cap of $728.48 million, a PE ratio of -10.52 and a beta of 2.16. Clean Energy Fuels has a 1 year low of $2.17 and a 1 year high of $3.37.

Clean Energy Fuels (NASDAQ:CLNE) last announced its quarterly earnings results on Wednesday, November 6th. The utilities provider reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.04. The firm had revenue of $104.90 million for the quarter, compared to analyst estimates 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 business’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.12) EPS. Sell-side analysts forecast that Clean Energy Fuels will post -0.33 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company raised its holdings in shares of Clean Energy Fuels by 10.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 69,853 shares of the utilities provider’s stock worth $187,000 after buying an additional 6,637 shares in the last quarter. FMR LLC grew its position in Clean Energy Fuels by 14.8% in the third quarter. FMR LLC now owns 53,546 shares of the utilities provider’s stock valued at $167,000 after acquiring an additional 6,884 shares during the period. IMC Chicago LLC grew its position in Clean Energy Fuels by 7.4% in the fourth quarter. IMC Chicago LLC now owns 131,122 shares of the utilities provider’s stock valued at $329,000 after acquiring an additional 9,021 shares during the period. Eastern Bank acquired a new position in Clean Energy Fuels during the third quarter worth $31,000. Finally, Grassi Investment Management lifted its holdings in shares of Clean Energy Fuels by 74.1% during the fourth quarter. Grassi Investment Management now owns 23,500 shares of the utilities provider’s stock valued at $59,000 after acquiring an additional 10,000 shares during the period. Institutional investors own 49.94% of the company’s stock.

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.