Clean Energy Fuels (CLNE) Stock Price Down 8.3%

Clean Energy Fuels Corp (NASDAQ:CLNE)’s share price was down 8.3% during mid-day trading on Friday . The stock traded as low as $2.36 and last traded at $2.42. Approximately 1,316,968 shares changed hands during trading, a decline of 12% from the average daily volume of 1,499,878 shares. The stock had previously closed at $2.64.

Several equities research analysts recently commented on the company. BidaskClub cut Clean Energy Fuels from a “buy” rating to a “hold” rating in a report on Thursday, September 20th. ValuEngine raised Clean Energy Fuels from a “sell” rating to a “hold” rating in a report on Tuesday, October 2nd.

The firm has a market capitalization of $480.17 million, a P/E ratio of -4.57 and a beta of 1.74. The company has a quick ratio of 1.93, a current ratio of 2.13 and a debt-to-equity ratio of 0.23.

Clean Energy Fuels (NASDAQ:CLNE) last announced its earnings results on Wednesday, November 7th. The utilities provider reported ($0.05) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.05). Clean Energy Fuels had a negative return on equity of 25.19% and a negative net margin of 35.54%. The firm had revenue of $77.32 million for the quarter, compared to analysts’ expectations of $85.50 million. As a group, sell-side analysts anticipate that Clean Energy Fuels Corp will post -0.1 earnings per share for the current fiscal year.

A number of large investors have recently made changes to their positions in the stock. Creative Planning raised its holdings in Clean Energy Fuels by 5.0% during the second quarter. Creative Planning now owns 468,501 shares of the utilities provider’s stock worth $1,729,000 after purchasing an additional 22,500 shares in the last quarter. Northern Trust Corp raised its holdings in Clean Energy Fuels by 1.9% during the first quarter. Northern Trust Corp now owns 1,584,418 shares of the utilities provider’s stock worth $2,614,000 after purchasing an additional 30,279 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Clean Energy Fuels by 0.4% during the first quarter. Dimensional Fund Advisors LP now owns 8,723,418 shares of the utilities provider’s stock worth $14,394,000 after purchasing an additional 31,346 shares in the last quarter. GSA Capital Partners LLP bought a new stake in Clean Energy Fuels during the second quarter worth approximately $166,000. Finally, Metropolitan Life Insurance Co. NY bought a new stake in Clean Energy Fuels during the second quarter worth approximately $180,000. 25.13% of the stock is currently owned by hedge funds and other institutional investors.

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About Clean Energy Fuels (NASDAQ:CLNE)

Clean Energy Fuels Corp. provides natural gas as an alternative fuel for vehicle fleets in the United States and Canada. The company supplies renewable natural gas (RNG), compressed natural gas (CNG), and liquefied natural gas (LNG) for light, medium, and heavy-duty vehicles; and provides operation and maintenance services for vehicle fleet customer stations.

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