Clean Energy Fuels (NASDAQ:CLNE) is set to release its earnings results after market close on Tuesday, May 9th. The company’s announcement is highly anticipated as analysts project that it will report a loss of ($0.03) per share for the quarter, which may place pressure on the stock price. Investors who are interested in joining the conference call can do so by using this link.
Equity analysts have also weighed in on CLNE shares. StockNews.com started covering Clean Energy Fuels and gave it a “sell” rating based on available data in a report published on March 16th. In contrast, Piper Sandler initiated coverage on CLNE shares with an “overweight” rating and established a $8.00 price target for the stock. Similarly, Raymond James raised its market outlook from “market perform” to “outperform” and set its price target at $6.00 while TD Cowen downgraded their fair value prediction from $7.00 to $5.50.
Notably, Lake Street Capital revised downwards their projected value of Clean Energy Fuel’s shares from $27.00 to $22.00 among cautionary assessments by several securities analysts concerning Clean Energy’s possible underperformance.
In related events, Barclays Corbus – senior vice president at Clean Energy Fuel – sold 5,643 of his equity during a transaction that took place on February 27th for an average price of $5.69 per share totaling into over $32K transferred in exchange for ownership transferal rights with the company granting him access to 624,458 units of CLNE worth approximately $3.55M after management duties are put aside post-transaction.Thus far, company insiders hold about 3% of Clean Energy Fuel’s outstanding equity capital.
Despite varied opinions among experts about the company’s current performance standing against competitor firms state-wise industry-wide data; Bloomberg analysis indicates a moderate buy rating for Clean Energy Fuels, with a consensus target price averaging $11.00 for the stock. Investors are watching to see how Clean Energy Fuels weathers its current challenges in the light of this information and how it will ultimately position itself in the energy and industrial markets in upcoming earnings reports.
Clean Energy Fuels: Q1 Earnings Miss, But Institutional Investors Show Confidence
Clean Energy Fuels (NASDAQ:CLNE), a utilities provider, recently announced its quarterly earnings results for the period ended February 28th. The company posted a loss of ($0.06) EPS for the quarter, which is a miss compared to analysts’ consensus estimates of ($0.03) by ($0.03). Clean Energy Fuels generated $113.76 million in revenue during this quarter, slightly exceeding market expectations of $111.40 million.
Clean Energy Fuels currently has a market capitalization standing at $936.21 million with a current ratio of 3.18 and a quick ratio of 2.93, along with debt-to-equity ratio standing at an impressive 0.20.
Despite the potential dip in earnings, institutional investors such as Creative Planning have demonstrated confidence in Clean Energy Fuel’s operational strategy by adding around 18,097 shares to their positions – worth $83,000 – over the past few months.
Atom Investors LP has also boosted its holdings by purchasing an additional 5,083 shares worth around $108,000.
Additionally, Empirical Financial Services LLC has increased its stake by adding about 3,790 shares worth approximately $130,000 to its assets portfolio.
Point72 Hong Kong Ltd recently invested an estimated $168,000 into Clean Energy Fuels stocks after buying additional shares valued at around $27,272 from its previous stake holding.
Finally, Ensign Peak Advisors Inc added approximately 8,740 shares amounting to roughly $198k to further augment its holdings in Clean Energy Fuels.
Overall and despite having one of the lowest returns on equity ratios in the industry (standing at negative 8.03%), it appears that these smart money investments provide alternative opportunities for long term investors who see sustainability in companies who invest heavily or exclusively in clean energy options that challenge traditional fossil fuel methods.