Clean Energy Fuels (NASDAQ:CLNE) Price Target Cut to $4.00 by Analysts at Piper Sandler

Clean Energy Fuels (NASDAQ:CLNE) had its price target reduced by Piper Sandler from $7.00 to $4.00 in a research note released on Thursday, Benzinga reports. They currently have an overweight rating on the utilities provider’s stock.

CLNE has been the topic of a number of other research reports. Scotiabank cut their price objective on shares of Clean Energy Fuels from $6.00 to $5.00 and set a sector outperform rating on the stock in a report on Thursday, April 11th. Raymond James cut their price objective on shares of Clean Energy Fuels from $6.00 to $5.00 and set a strong-buy rating on the stock in a report on Wednesday, April 3rd. StockNews.com raised shares of Clean Energy Fuels to a sell rating in a report on Tuesday, April 9th. Finally, Stifel Nicolaus cut their price objective on shares of Clean Energy Fuels from $8.00 to $6.50 and set a buy rating on the stock in a report on Tuesday, January 23rd. One 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. According to data from MarketBeat.com, Clean Energy Fuels presently has a consensus rating of Moderate Buy and a consensus price target of $5.60.

Clean Energy Fuels Stock Performance

Shares of Clean Energy Fuels stock opened at $2.24 on Thursday. Clean Energy Fuels has a 52-week low of $2.21 and a 52-week high of $5.25. The company has a 50 day moving average of $2.70 and a 200 day moving average of $3.24. The company has a current ratio of 2.87, a quick ratio of 2.59 and a debt-to-equity ratio of 0.36.

Clean Energy Fuels (NASDAQ:CLNE) last issued its quarterly earnings results on Tuesday, February 27th. The utilities provider reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.02. Clean Energy Fuels had a negative net margin of 23.40% and a negative return on equity of 14.05%. The company had revenue of $106.86 million during the quarter, compared to the consensus estimate of $106.50 million. On average, research analysts predict that Clean Energy Fuels will post -0.48 EPS for the current fiscal year.

Hedge Funds Weigh In On Clean Energy Fuels

A number of institutional investors have recently modified their holdings of the business. BlackRock Inc. increased its holdings in shares of Clean Energy Fuels by 1.4% in the 2nd quarter. BlackRock Inc. now owns 13,522,092 shares of the utilities provider’s stock valued at $67,070,000 after acquiring an additional 184,661 shares during the period. State Street Corp increased its holdings in shares of Clean Energy Fuels by 19.6% in the 2nd quarter. State Street Corp now owns 12,696,002 shares of the utilities provider’s stock valued at $56,878,000 after acquiring an additional 2,082,455 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Clean Energy Fuels by 6.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 12,314,636 shares of the utilities provider’s stock valued at $47,167,000 after acquiring an additional 702,049 shares during the period. Vanguard Group Inc. increased its holdings in shares of Clean Energy Fuels by 3.7% in the 4th quarter. Vanguard Group Inc. now owns 10,001,030 shares of the utilities provider’s stock valued at $38,304,000 after acquiring an additional 357,860 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Clean Energy Fuels by 3.4% in the 2nd quarter. Geode Capital Management LLC now owns 3,490,424 shares of the utilities provider’s stock valued at $17,313,000 after acquiring an additional 113,930 shares during the period. 49.94% of the stock is owned by institutional investors and hedge funds.

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.