Clean Energy Fuels Corp. (CLNE) Short Interest Update
Clean Energy Fuels Corp. (NASDAQ:CLNE) was the recipient of a large growth in short interest in September. As of September 30th, there was short interest totalling 10,558,029 shares, a growth of 16.7% from the September 15th total of 9,048,306 shares. Currently, 9.8% of the company’s shares are sold short. Based on an average daily trading volume, of 2,144,694 shares, the short-interest ratio is presently 4.9 days.
In related news, Director Boone Pickens sold 1,500,000 shares of the stock in a transaction on Friday, September 2nd. The stock was sold at an average price of $4.56, for a total value of $6,840,000.00. Following the transaction, the director now directly owns 17,205,650 shares in the company, valued at approximately $78,457,764. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Warren I. Mitchell bought 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 17th. The stock was purchased at an average price of $4.01 per share, for a total transaction of $40,100.00. Following the completion of the acquisition, the director now owns 90,100 shares in the company, valued at $361,301. The disclosure for this purchase can be found here. Company insiders own 26.69% of the company’s stock.
Several large investors have recently modified their holdings of the company. Brave Asset Management Inc increased its position in Clean Energy Fuels Corp. by 121.4% in the second quarter. Brave Asset Management Inc now owns 31,000 shares of the company’s stock valued at $108,000 after buying an additional 17,000 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased 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 valued at $110,000 after buying an additional 400 shares during the last quarter. Everett Harris & Co. CA increased 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 valued at $115,000 after buying an additional 10,250 shares during the last quarter. BlackRock Advisors LLC increased its position in Clean Energy Fuels Corp. by 1.8% in the second quarter. BlackRock Advisors LLC now owns 37,514 shares of the company’s stock valued at $130,000 after buying an additional 671 shares during the last quarter. Finally, American International Group Inc. increased its position in Clean Energy Fuels Corp. by 6.6% in the second quarter. American International Group Inc. now owns 50,462 shares of the company’s stock valued at $175,000 after buying an additional 3,130 shares during the last quarter. Hedge funds and other institutional investors own 25.85% of the company’s stock.
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A number of equities analysts recently issued reports on CLNE shares. Zacks Investment Research cut Clean Energy Fuels Corp. from a “buy” rating to a “hold” rating in a report on Monday, July 18th. Rodman & Renshaw reissued a “buy” rating and issued a $6.30 price target (up from $5.00) on shares of Clean Energy Fuels Corp. in a research report on Friday, September 23rd. Finally, Dundee Securities reissued a “buy” rating and issued a $5.80 price target on shares of Clean Energy Fuels Corp. in a research report on Wednesday, August 10th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $5.42.
Clean Energy Fuels Corp. (NASDAQ:CLNE) opened at 4.28 on Friday. The stock’s market cap is $561.48 million. Clean Energy Fuels Corp. has a 1-year low of $2.15 and a 1-year high of $6.33. The stock has a 50 day moving average price of $4.44 and a 200 day moving average price of $3.54.
Clean Energy Fuels Corp. (NASDAQ:CLNE) last issued its quarterly earnings results on Tuesday, August 9th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.17. Clean Energy Fuels Corp. had a negative return on equity of 3.84% and a negative net margin of 16.56%. The firm had revenue of $108 million for the quarter, compared to the consensus estimate of $94.33 million. During the same period in the prior year, the business posted ($0.29) earnings per share. The company’s revenue for the quarter was up 24.4% on a year-over-year basis. On average, analysts predict that Clean Energy Fuels Corp. will post ($0.17) EPS for the current fiscal year.
About Clean Energy Fuels Corp.
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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