Clean Energy Fuels (NASDAQ:CLNE) Share Price Passes Above 200 Day Moving Average – Here’s What Happened

Clean Energy Fuels Corp. (NASDAQ:CLNE)’s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $2.22 and traded as high as $2.43. Clean Energy Fuels shares last traded at $2.38, with a volume of 1,078,959 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on CLNE shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Clean Energy Fuels in a research note on Monday, April 20th. UBS Group cut shares of Clean Energy Fuels from a “buy” rating to a “neutral” rating and set a $2.75 price target on the stock. in a research report on Friday. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $2.48.

Clean Energy Fuels Stock Up 1.3%

The company has a debt-to-equity ratio of 0.41, a current ratio of 2.46 and a quick ratio of 2.14. The stock has a market capitalization of $524.15 million, a P/E ratio of -5.17 and a beta of 1.82. The stock’s fifty day moving average is $2.03 and its two-hundred day moving average is $2.22.

Clean Energy Fuels (NASDAQ:CLNE) last posted its quarterly earnings results on Thursday, May 7th. The utilities provider reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.01. Clean Energy Fuels had a negative return on equity of 14.04% and a negative net margin of 22.68%.The company had revenue of $117.56 million for the quarter, compared to analysts’ expectations of $102.62 million. During the same quarter in the prior year, the company earned $0.01 earnings per share. The firm’s revenue was up 13.3% on a year-over-year basis. As a group, research analysts predict that Clean Energy Fuels Corp. will post -0.31 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Andrew J. Littlefair sold 165,000 shares of Clean Energy Fuels stock in a transaction on Monday, May 18th. The stock was sold at an average price of $2.05, for a total value of $338,250.00. Following the transaction, the director directly owned 1,914,993 shares in the company, valued at $3,925,735.65. The trade was a 7.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 4.12% of the stock is owned by insiders.

Hedge Funds Weigh In On Clean Energy Fuels

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. R Squared Ltd acquired a new stake in Clean Energy Fuels during the 1st quarter worth about $31,000. NewEdge Advisors LLC boosted its holdings in shares of Clean Energy Fuels by 1,419,900.0% in the second quarter. NewEdge Advisors LLC now owns 14,200 shares of the utilities provider’s stock worth $28,000 after buying an additional 14,199 shares during the period. Mercer Global Advisors Inc. ADV purchased a new position in shares of Clean Energy Fuels in the fourth quarter worth approximately $31,000. BNP Paribas Financial Markets increased its position in shares of Clean Energy Fuels by 54.8% in the second quarter. BNP Paribas Financial Markets now owns 14,844 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 5,254 shares in the last quarter. Finally, Mariner LLC increased its position in shares of Clean Energy Fuels by 43.9% in the fourth quarter. Mariner LLC now owns 16,641 shares of the utilities provider’s stock worth $35,000 after acquiring an additional 5,075 shares in the last quarter. Institutional investors and hedge funds own 49.94% of the company’s stock.

Clean Energy Fuels Company Profile

Clean Energy Fuels Corp., founded in 1997 and headquartered in Newport Beach, California, is a leading provider of natural gas and renewable natural gas (RNG) fuel for the transportation sector. The company operates a network of more than 500 fueling stations across the United States and Canada, supplying compressed natural gas (CNG), liquefied natural gas (LNG) and RNG derived from organic waste streams. Clean Energy serves a diverse customer base that includes commercial trucking fleets, public transit agencies, refuse haulers and municipal vehicle operators.

In addition to fuel supply, Clean Energy offers turnkey station design, construction and ongoing maintenance services, as well as fueling hardware and project management.