Clean Energy Fuels (NASDAQ:CLNE) Shares Gap Down – Should You Sell?

Shares of Clean Energy Fuels Corp. (NASDAQ:CLNE) gapped down prior to trading on Wednesday . The stock had previously closed at $3.02, but opened at $2.85. Clean Energy Fuels shares last traded at $2.88, with a volume of 444,507 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CLNE. StockNews.com upgraded Clean Energy Fuels from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Scotiabank raised their price target on Clean Energy Fuels from $5.00 to $6.00 and gave the company a “sector outperform” rating in a research report on Tuesday, September 3rd. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $5.38.

Clean Energy Fuels Stock Performance

The stock has a market cap of $627.92 million, a PE ratio of -9.29 and a beta of 2.14. The company has a fifty day moving average price of $2.93 and a 200 day moving average price of $2.84. The company has a quick ratio of 2.74, a current ratio of 3.06 and a debt-to-equity ratio of 0.36.

Clean Energy Fuels (NASDAQ:CLNE) last released its quarterly earnings data on Wednesday, November 6th. The utilities provider reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.04. The firm had revenue of $104.90 million for the quarter, compared to the consensus estimate of $100.64 million. Clean Energy Fuels had a negative return on equity of 7.59% and a negative net margin of 17.32%. The company’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.12) earnings per share. Analysts expect that Clean Energy Fuels Corp. will post -0.33 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CLNE. Vanguard Group Inc. grew its stake in shares of Clean Energy Fuels by 1.0% in the first quarter. Vanguard Group Inc. now owns 10,101,301 shares of the utilities provider’s stock worth $27,071,000 after purchasing an additional 100,271 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Clean Energy Fuels by 33.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 105,763 shares of the utilities provider’s stock worth $284,000 after purchasing an additional 26,356 shares during the last quarter. Tidal Investments LLC bought a new stake in shares of Clean Energy Fuels in the first quarter worth about $33,000. SG Americas Securities LLC grew its stake in shares of Clean Energy Fuels by 411.7% in the second quarter. SG Americas Securities LLC now owns 149,943 shares of the utilities provider’s stock worth $400,000 after purchasing an additional 120,639 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Clean Energy Fuels by 11.6% in the second quarter. Bank of New York Mellon Corp now owns 642,202 shares of the utilities provider’s stock worth $1,715,000 after purchasing an additional 66,523 shares during the last quarter. Hedge funds and other institutional investors 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.