The Newport Beach, CA-based company is a provider of natural gas as an alternative fuel for vehicle fleets in the U.S. and Canada
"Despite continued pressure in the energy markets Clean Energy has increased penetration with existing customers, grown volumes, especially in refuse, and reduced capex spend. The business remains poised to leverage its asset base but slow oil inflation and sub-optimal payback periods of greater than 2 years likely delay fleet decisions in the near-term," the firm said in an analyst note.
The shares will remain "range-bound" until concerns over debt abate and spreads widen, Jefferies added.
Shares of Clean Energy Fuels closed down 4.94% to $3.08 on heavy trading volume on Monday.
About 2.76 million of the company's shares were traded today, well above its average volume of 1.71 million shares per day.
Separately, TheStreet Ratings Team has a "Sell" rating with a score of D on the stock.
This is driven by some concerns, which should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks covered.
The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, generally high debt management risk, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: CLNE