Clean Energy Fuels Corp. (CLNE) Shares Up 4.5%
Clean Energy Fuels Corp. (NASDAQ:CLNE)’s share price shot up 4.5% during trading on Wednesday . The company traded as high as $4.40 and last traded at $4.37, with a volume of 2,057,364 shares trading hands. The stock had previously closed at $4.18.
A number of brokerages have commented on CLNE. Zacks Investment Research downgraded Clean Energy Fuels Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, July 27th. Dundee Securities restated a “buy” rating and issued a $5.80 target price on shares of Clean Energy Fuels Corp. in a research note on Wednesday, August 10th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $5.20.
The firm’s market cap is $573.29 million. The firm’s 50 day moving average price is $4.05 and its 200-day moving average price is $3.39.
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Clean Energy Fuels Corp. (NASDAQ:CLNE) last released its earnings results on Tuesday, August 9th. The company reported $0.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.14) by $0.17. The firm earned $108 million during the quarter, compared to analyst estimates of $94.33 million. Clean Energy Fuels Corp. had a negative net margin of 16.56% and a negative return on equity of 3.84%. The business’s revenue was up 24.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.29) EPS. Equities analysts forecast that Clean Energy Fuels Corp. will post ($0.17) EPS for the current year.
In other news, SVP Barclay Corbus bought 12,500 shares of the business’s stock in a transaction on Wednesday, August 17th. The stock was purchased at an average price of $4.04 per share, with a total value of $50,500.00. Following the transaction, the senior vice president now directly owns 163,879 shares in the company, valued at $662,071.16. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Boone Pickens sold 1,500,000 shares of the business’s stock in a transaction on Friday, September 2nd. The stock was sold at an average price of $4.56, for a total transaction of $6,840,000.00. Following the transaction, the director now directly owns 17,205,650 shares of the company’s stock, valued at approximately $78,457,764. The disclosure for this sale can be found here. Company insiders own 26.69% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. raised its position in Clean Energy Fuels Corp. by 1.3% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 31,744 shares of the company’s stock worth $110,000 after buying an additional 400 shares in the last quarter. Everett Harris & Co. CA raised its position in Clean Energy Fuels Corp. by 45.1% in the second quarter. Everett Harris & Co. CA now owns 33,000 shares of the company’s stock worth $115,000 after buying an additional 10,250 shares in the last quarter. Emerald Acquisition Ltd. purchased a new position in Clean Energy Fuels Corp. during the second quarter worth $535,000. California State Teachers Retirement System raised its position in Clean Energy Fuels Corp. by 13.0% in the second quarter. California State Teachers Retirement System now owns 183,809 shares of the company’s stock worth $638,000 after buying an additional 21,104 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Clean Energy Fuels Corp. by 11.3% in the second quarter. Bank of New York Mellon Corp now owns 484,053 shares of the company’s stock worth $1,680,000 after buying an additional 49,042 shares in the last quarter. 25.85% of the stock is owned by hedge funds and other institutional investors.
Clean Energy Fuels Corp. Company Profile
Clean Energy Fuels Corp. (Clean Energy) is a provider of natural gas as an alternative fuel for vehicle fleets in the United States and Canada. The Company is engaged in supplying compressed natural gas (CNG), liquefied natural gas (LNG) and renewable natural gas (RNG) for light, medium and heavy-duty vehicles, and providing operation, repair and maintenance (O&M) services for vehicle fleet customer stations.
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