Clean Energy Fuels (NASDAQ:CLNE) Price Target Lowered to $5.00 at Lake Street Capital

Clean Energy Fuels (NASDAQ:CLNE) had its price objective reduced by Lake Street Capital from $22.00 to $5.00 in a report released on Friday morning,Benzinga reports. They currently have a buy rating on the utilities provider’s stock.

Other analysts also recently issued reports about the company. Scotiabank dropped their price objective on Clean Energy Fuels from $6.00 to $4.00 and set a “sector outperform” rating for the company in a report on Friday, April 11th. StockNews.com lowered Clean Energy Fuels from a “hold” rating to a “sell” rating in a research note on Wednesday, February 26th. Raymond James reaffirmed a “strong-buy” rating and issued a $4.00 price objective (down from $5.00) on shares of Clean Energy Fuels in a research note on Tuesday, February 25th. Finally, UBS Group set a $2.00 target price on shares of Clean Energy Fuels and gave the stock a “buy” rating in a research report on Sunday, April 13th. One investment analyst has rated the stock with a sell rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Clean Energy Fuels currently has a consensus rating of “Moderate Buy” and an average price target of $3.75.

Clean Energy Fuels Stock Performance

NASDAQ CLNE opened at $1.60 on Friday. 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 company has a market capitalization of $358.34 million, a PE ratio of -5.16 and a beta of 2.57. The business’s 50-day moving average price is $1.58 and its 200 day moving average price is $2.41. Clean Energy Fuels has a twelve month low of $1.30 and a twelve month high of $3.67.

Clean Energy Fuels (NASDAQ:CLNE) last announced its quarterly earnings data on Thursday, May 8th. The utilities provider reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.21. 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 $103.76 million for the quarter, compared to analyst estimates of $96.61 million. During the same period in the prior year, the firm posted ($0.01) EPS. The company’s revenue was up .1% on a year-over-year basis. On average, research analysts predict that Clean Energy Fuels will post -0.33 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Robert M. Vreeland bought 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The shares were acquired at an average cost of $1.94 per share, for a total transaction of $29,100.00. Following the acquisition, the chief financial officer now owns 458,800 shares in the company, valued at $890,072. This represents a 3.38 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have purchased a total of 35,000 shares of company stock worth $64,100 over the last quarter. 4.30% of the stock is owned by corporate insiders.

Institutional Trading of Clean Energy Fuels

Several large investors have recently bought and sold shares of CLNE. Moors & Cabot Inc. boosted its stake in shares of Clean Energy Fuels by 0.9% during the 4th quarter. Moors & Cabot Inc. now owns 413,195 shares of the utilities provider’s stock valued at $1,037,000 after buying an additional 3,700 shares during the last quarter. GTS Securities LLC boosted its stake in Clean Energy Fuels by 16.8% during the 4th quarter. GTS Securities LLC now owns 27,446 shares of the utilities provider’s stock valued at $69,000 after acquiring an additional 3,955 shares during the last quarter. Invesco Ltd. grew its holdings in Clean Energy Fuels by 1.2% during the 4th quarter. Invesco Ltd. now owns 349,650 shares of the utilities provider’s stock worth $878,000 after acquiring an additional 4,108 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Clean Energy Fuels by 4.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 97,684 shares of the utilities provider’s stock valued at $245,000 after purchasing an additional 4,215 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in shares of Clean Energy Fuels by 56.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 13,584 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 4,894 shares during the last quarter. Institutional investors and hedge funds 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.