Clean Energy Fuels (CLNE) Receives a Buy from Piper Sandler

Piper Sandler analyst Ryan Todd maintained a Buy rating on Clean Energy Fuels (CLNE – Research Report) today and set a price target of $4.00. The company’s shares closed yesterday at $2.29.

Todd covers the Energy sector, focusing on stocks such as PBF Energy, Par Pacific Holdings, and HF Sinclair Corporation. According to TipRanks, Todd has an average return of 8.3% and a 58.85% success rate on recommended stocks.

Currently, the analyst consensus on Clean Energy Fuels is a Strong Buy with an average price target of $7.00, which is a 205.68% upside from current levels. In a report released on April 11, Scotiabank also maintained a Buy rating on the stock with a $5.00 price target.

Based on Clean Energy Fuels’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $106.86 million and a GAAP net loss of $18.69 million. In comparison, last year the company earned a revenue of $113.76 million and had a GAAP net loss of $12.33 million

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Clean Energy Fuels (CLNE) Company Description:

Clean Energy Fuels Corp. engages in the provision of natural gas as an alternative fuel for vehicle fleets in the United States and Canada. It also build and operate compressed natural gas (CNG) and liquefied natural gas (LNG) vehicle fueling stations; manufacture CNG and LNG equipment and technologies; and deliver more CNG and LNG vehicle fuel. The company was founded by T. Boone Pickens and Andrew J. Littlefair in 1996 and is headquartered in Newport Beach, CA.