Analyst Downgrades: Finish Line Inc, Hibbett Sports, Inc., and Clean Energy Fuels Corp

Analysts downwardly revised their ratings and price targets on Finish Line Inc (NASDAQ:FINL), Hibbett Sports, Inc. (NASDAQ:HIBB), and Clean Energy Fuels Corp (NASDAQ:CLNE)

Josh Selway

Mar 14, 2016 at 10:26 AM

Analysts are weighing in on athletic apparel stocks Finish Line Inc (NASDAQ:FINL) and Hibbett Sports, Inc. (NASDAQ:HIBB), as well as natural gas concern Clean Energy Fuels Corp (NASDAQ:CLNE). Here's a quick roundup of today's bearish brokerage notes on FINL, HIBB, and CLNE.

FINL has dropped 3.3% to $18.56 out of the gate, after Credit Suisse trimmed its price target to $17 from $19. Still, it looks like the $18.50 area could now be acting as support, and the stock's 10-week moving average is also serving as a foothold. What's more, if Finish Line Inc has a positive showing in the earnings booth next week, it could benefit from a short squeeze. That's because, going by the stock's average daily volume, it'd take short sellers almost six sessions to cover their positions.

HIBB is 2.3% lower at $35.61, following price-target cuts to $34 from BMO and Deutsche Bank, as well as a cut to $36 at Canaccord Genuity. The shares remain more than 20% higher for 2016, but recently backed down from their 200-day moving average. In the meantime, options traders have taken a decidedly put-skewed approach. Specifically, Hibbett Sports, Inc.'s Schaeffer's put/call open interest ratio (SOIR) stands at 3.14, meaning put open interest more than triples call open interest among options set to expire within three months.

A price-target cut to $4 from $6 at Jefferies has CLNE 6.2% lower at $3.04. Underperformance is nothing new from the shares, though, as they've trailed the S&P 500 Index (SPX) by more than 11 percentage points in the past three months. It's not surprising, then, to see such elevated short-interest levels. By the numbers, almost 21% of Clean Energy Fuels Corp's float is controlled by short sellers, representing nearly two weeks' worth of buying power, based on CLNE's average daily volume.

Sign up now for Schaeffer's Opening View newsletter to get a head start on all the major pre-market news!

Follow @Schaeffers

You have the chance to join one of Bernie's most exclusive programs, complete access at HUGE savings!

As we prepare for a new administration to take the reins in Washington, the near-term market landscape is rife with uncertainty.

The Federal Reserve has already hinted at the turbulence ahead, lowering its interest rate outlook for 2025.

Meanwhile, breakthroughs in artificial intelligence (AI), quantum computing, and other transformative sectors have unlocked incredible profit potential.

But these opportunities are fleeting, and timing is everything. That's where Quick-Hit Trader comes in.

Quick-Hit Trader is designed for precision and speed, getting you in and out of the market in a flash. While other investors scramble to navigate volatile conditions, you'll have access to expertly curated trades that leverage these rapid shifts to deliver explosive profits in short order.

This is your chance to capitalize on the fast-moving market like never before. Are you ready to make your move?