Clean Energy Fuels (CLNE) Receives a Buy from Needham

In a report released today, Vikram Bagri from Needham maintained a Buy rating on Clean Energy Fuels (CLNEResearch Report), with a price target of $11.00. The company’s shares closed yesterday at $6.87.

Bagri covers the Consumer Goods sector, focusing on stocks such as Tesla, Fisker, and Lucid Group. According to TipRanks, Bagri has an average return of -17.3% and a 21.62% success rate on recommended stocks.

Currently, the analyst consensus on Clean Energy Fuels is a Strong Buy with an average price target of $12.25.

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Based on Clean Energy Fuels’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $97.22 million and a GAAP net loss of $13.24 million. In comparison, last year the company earned a revenue of $480 thousand and had a GAAP net loss of $79.67 million

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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.

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