K2 Principal Fund L.P. Buys Shares of 100,000 Clean Energy Fuels Corp. (NASDAQ:CLNE)

K2 Principal Fund L.P. purchased a new stake in shares of Clean Energy Fuels Corp. (NASDAQ:CLNE) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 100,000 shares of the utilities provider’s stock, valued at approximately $251,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Two Sigma Securities LLC bought a new position in Clean Energy Fuels during the fourth quarter worth about $31,000. Balyasny Asset Management L.P. purchased a new stake in shares of Clean Energy Fuels during the 4th quarter valued at approximately $31,000. Tower Research Capital LLC TRC boosted its holdings in Clean Energy Fuels by 56.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 13,584 shares of the utilities provider’s stock worth $34,000 after buying an additional 4,894 shares during the period. Cibc World Markets Corp purchased a new position in Clean Energy Fuels in the 4th quarter valued at approximately $40,000. Finally, Versor Investments LP bought a new stake in Clean Energy Fuels during the 4th quarter valued at $45,000. Institutional investors own 49.94% of the company’s stock.

Analysts Set New Price Targets

CLNE has been the subject of a number of analyst reports. Raymond James reaffirmed a “strong-buy” rating and issued a $4.00 price target (down from $5.00) on shares of Clean Energy Fuels in a report on Tuesday, February 25th. UBS Group set a $2.00 target price on Clean Energy Fuels and gave the company a “buy” rating in a report on Sunday, April 13th. StockNews.com downgraded shares of Clean Energy Fuels from a “hold” rating to a “sell” rating in a report on Wednesday, February 26th. Lake Street Capital cut their price objective on shares of Clean Energy Fuels from $22.00 to $5.00 and set a “buy” rating for the company in a research report on Friday. Finally, Scotiabank decreased their target price on shares of Clean Energy Fuels from $6.00 to $4.00 and set a “sector outperform” rating on the stock in a report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $3.75.

Clean Energy Fuels Stock Performance

Shares of CLNE opened at $1.60 on Friday. Clean Energy Fuels Corp. has a 12-month low of $1.30 and a 12-month high of $3.67. The company has a current ratio of 3.06, a quick ratio of 2.74 and a debt-to-equity ratio of 0.36. The company has a market cap of $358.34 million, a PE ratio of -5.16 and a beta of 2.57. The stock has a 50-day moving average price of $1.58 and a 200-day moving average price of $2.41.

Clean Energy Fuels (NASDAQ:CLNE) last released its quarterly earnings results on Thursday, May 8th. The utilities provider reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.21. The business had revenue of $103.76 million during the quarter, compared to analysts’ expectations of $96.61 million. Clean Energy Fuels had a negative net margin of 17.32% and a negative return on equity of 7.59%. The business’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.01) EPS. As a group, equities analysts forecast that Clean Energy Fuels Corp. will post -0.33 earnings per share for the current fiscal year.

Insider Activity at Clean Energy Fuels

In other news, CFO Robert M. Vreeland acquired 15,000 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was purchased at an average cost of $1.94 per share, for a total transaction of $29,100.00. Following the acquisition, the chief financial officer now owns 458,800 shares of the company’s stock, valued at $890,072. This trade represents a 3.38 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders have bought a total of 35,000 shares of company stock valued at $64,100 over the last 90 days. 4.30% of the stock is owned by insiders.

About Clean Energy Fuels

Clean Energy Fuels Corp. provides natural gas as alternative fuels for vehicle fleets and related fueling solutions in the United States and Canada. It supplies renewable natural gas (RNG), compressed natural gas (CNG), and liquefied natural gas (LNG) for medium and heavy-duty vehicles; and offers operation and maintenance services for public and private vehicle fleet customer stations.