Fintel reports that on October 3, 2023, Raymond James upgraded their outlook for Clean Energy Fuels (NASDAQ:CLNE) from Outperform to Strong Buy.

Analyst Price Forecast Suggests 166.96% Upside

As of August 31, 2023, the average one-year price target for Clean Energy Fuels is 9.58. The forecasts range from a low of 5.56 to a high of $23.10. The average price target represents an increase of 166.96% from its latest reported closing price of 3.59.

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The projected annual revenue for Clean Energy Fuels is 555MM, an increase of 20.10%. The projected annual non-GAAP EPS is -0.01.

What is the Fund Sentiment?

There are 385 funds or institutions reporting positions in Clean Energy Fuels. This is a decrease of 21 owner(s) or 5.17% in the last quarter. Average portfolio weight of all funds dedicated to CLNE is 0.09%, an increase of 16.52%. Total shares owned by institutions increased in the last three months by 0.58% to 128,105K shares. The put/call ratio of CLNE is 0.10, indicating a bullish outlook.

What are Other Shareholders Doing?

Grantham, Mayo, Van Otterloo & Co. holds 14,041K shares representing 6.30% ownership of the company. In it’s prior filing, the firm reported owning 15,187K shares, representing a decrease of 8.16%. The firm decreased its portfolio allocation in CLNE by 4.28% over the last quarter.

Global Alpha Capital Management holds 6,987K shares representing 3.13% ownership of the company. In it’s prior filing, the firm reported owning 7,159K shares, representing a decrease of 2.46%. The firm increased its portfolio allocation in CLNE by 14.63% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 5,110K shares representing 2.29% ownership of the company. No change in the last quarter.

Arosa Capital Management holds 4,050K shares representing 1.82% ownership of the company. In it’s prior filing, the firm reported owning 3,066K shares, representing an increase of 24.30%. The firm increased its portfolio allocation in CLNE by 142.96% over the last quarter.

IWM – iShares Russell 2000 ETF holds 3,893K shares representing 1.75% ownership of the company. In it’s prior filing, the firm reported owning 3,678K shares, representing an increase of 5.53%. The firm increased its portfolio allocation in CLNE by 11.01% over the last quarter.

Clean Energy Fuels Background Information
(This description is provided by the company.)

Clean Energy Fuels Corp. is the leading provider of the cleanest fuel for the transportation market in the United States and Canada. Through its sales of Redeem™ renewable natural gas (RNG), which is derived from capturing biogenic methane produced from decomposing organic waste, Clean Energy allows thousands of vehicle fleets, from airport shuttles to city buses to waste and heavy-duty trucks, to reduce their amount of climate-harming greenhouse gas by at least 70% and even up to 300% depending on the source of the RNG. Clean Energy can deliver Redeem through compressed natural gas (CNG) and liquified natural gas (LNG) to its network of approximately 540 fueling stations across the U.S. and Canada. Clean Energy builds and operates CNG and LNG fueling stations for the transportation market, owns natural gas liquefication facilities in California and Texas, and transports bulk CNG and LNG to non-transportation customers around the U.S.

This article originally appeared on Fintel

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