StockNews.com Changes Rating on Clean Energy Fuels (CLNE) to 'Sell'

Equity research analysts at StockNews.com have adjusted their stance on shares of Clean Energy Fuels CLNE, amending their rating to a 'sell' in a research note published on Friday, offering guidance to investors and market observers regarding the company's stock performance.

Diverse Analyst Sentiments on Clean Energy Fuels

Clean Energy Fuels, headquartered in Newport Beach, California, has been the subject of varied analyses by several market researchers. Notably, Northland Securities initiated coverage on CLNE on September 5th, bestowing an 'outperform' rating with a $7.50 price target. However, TheStreet presented a less favorable position, downgrading CLNE from a 'c-' rating to a 'd' on August 9th. In contrast, Raymond James enhanced their rating from 'outperform' to a 'strong-buy', setting a price target of $6.00 on October 3rd. Furthermore, Piper Sandler lifted their target price from $7.00 to $8.00, maintaining a 'buy' rating on August 1st, which was followed by Stifel Nicolaus elevating their price target from $6.00 to $7.00, also endorsing the stock with a 'buy' rating on August 22nd. Predominantly, CLNE has secured a 'Moderate Buy' consensus rating among analysts, with an approximate average price target of $9.71.

With divergent perspectives, the analysts' ratings range across a spectrum from 'sell' to 'strong buy', highlighting the complexity of forecasting CLNE's potential trajectory in the market.

Financial Performance and Stock Metrics

CLNE commenced trading at $3.37 on the announcement day, positioned below the 52-week peak of $7.73 with a market valuation of approximately $751.41 million. The company presented a debt-to-equity ratio of 0.21, a current ratio of 3.06, and a quick ratio of 2.76, along with a PE ratio of -8.02 and a beta of 2.22. The 50-day and 200-day moving averages were $3.89 and $4.27, respectively.

Financial results released on August 9th revealed a quarterly EPS of ($0.07), which did not meet the anticipated ($0.02), causing concern among investors. The recorded revenue was $90.50 million, falling short of the projected $109.75 million. Annual comparisons revealed a revenue decrease of 6.9%. These figures underscored challenges for CLNE, as the company demonstrated a negative return on equity of 13.09% and a negative net margin of 21.56%. Despite these setbacks, CLNE is estimated to post an EPS of -$0.39 for the current fiscal year.

Interest from Institutional Investors

Recent months have seen varying activities from institutional investors in CLNE shares. Entities like Spire Wealth Management have significantly increased their holdings while firms such as Xponance Inc. and Arkadios Wealth Advisors have initiated new positions in the stock. Other notable investors, including Tower Research Capital LLC TRC and Arbor Capital Management Inc. ADV, made sizable investments, highlighting institutional confidence in the company's potential. Approximately 49.40% of CLNE shares are owned by institutional investors, indicating a notable level of investment from large financial institutions.

About Clean Energy Fuels Corp.

CLNE operates in the United States and Canada, providing natural gas as an alternative fuel for vehicle fleets, along with related fueling solutions. The product offerings encompass renewable natural gas (RNG), compressed natural gas (CNG), and liquefied natural gas (LNG), catering to medium and heavy-duty vehicles. Additionally, CLNE delivers operational and maintenance services for a variety of vehicle fleet customer stations.

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