J. Derek Lewis & Associates Inc. lowered its position in shares of Clean Energy Fuels Corp. (NASDAQ:CLNE – Free Report) by 55.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 756,855 shares of the utilities provider’s stock after selling 957,303 shares during the period. J. Derek Lewis & Associates Inc.’s holdings in Clean Energy Fuels were worth $1,181,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently made changes to their positions in the company. StoneX Group Inc. acquired a new stake in Clean Energy Fuels during the 3rd quarter worth approximately $49,000. State Street Corp boosted its stake in Clean Energy Fuels by 9.1% in the 2nd quarter. State Street Corp now owns 6,374,675 shares of the utilities provider’s stock valued at $13,068,000 after purchasing an additional 533,331 shares during the period. WINTON GROUP Ltd boosted its stake in Clean Energy Fuels by 221.7% in the 2nd quarter. WINTON GROUP Ltd now owns 54,048 shares of the utilities provider’s stock valued at $111,000 after purchasing an additional 37,248 shares during the period. Squarepoint Ops LLC boosted its stake in Clean Energy Fuels by 261.1% in the 2nd quarter. Squarepoint Ops LLC now owns 157,474 shares of the utilities provider’s stock valued at $323,000 after purchasing an additional 113,867 shares during the period. Finally, Amundi grew its holdings in Clean Energy Fuels by 17.7% in the 2nd quarter. Amundi now owns 112,674 shares of the utilities provider’s stock valued at $231,000 after buying an additional 16,951 shares in the last quarter. Institutional investors own 49.94% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts have weighed in on CLNE shares. Weiss Ratings upgraded Clean Energy Fuels from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, October 28th. Jefferies Financial Group raised Clean Energy Fuels to a “hold” rating in a report on Tuesday, September 29th. Raymond James Financial reissued a “strong-buy” rating and issued a $2.50 target price on shares of Clean Energy Fuels in a research report on Tuesday, August 18th. Finally, UBS Group downgraded shares of Clean Energy Fuels from a “buy” rating to a “hold” rating and set a $2.75 price target on the stock. in a research note on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $2.38.
Clean Energy Fuels Stock Performance
Shares of NASDAQ:CLNE opened at $1.91 on Friday. The company’s 50 day moving average price is $1.56 and its two-hundred day moving average price is $2.00. Clean Energy Fuels Corp. has a 12-month low of $1.32 and a 12-month high of $2.84. The firm has a market cap of $420.64 million, a PE ratio of -5.31 and a beta of 1.87. The company has a quick ratio of 2.15, a current ratio of 2.48 and a debt-to-equity ratio of 0.41.
Clean Energy Fuels (NASDAQ:CLNE – Get Free Report) last released its quarterly earnings results on Thursday, November 5th. The utilities provider reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.05. The company had revenue of $112.18 million during the quarter, compared to the consensus estimate of $105.38 million. Clean Energy Fuels had a negative net margin of 16.95% and a negative return on equity of 13.51%. Equities research analysts predict that Clean Energy Fuels Corp. will post -0.30 earnings per share for the current year.
Key Clean Energy Fuels News
Here are the key news stories impacting Clean Energy Fuels this week:
- Positive Sentiment: CLNE reported $0.03 per share in adjusted earnings, ahead of estimates calling for a loss, and revenue of $112.2 million, above consensus of about $105.4 million. Revenue rose from $106.1 million a year earlier. Zacks earnings coverage
- Positive Sentiment: The company sold 66.8 million gallons of renewable natural gas (RNG) in the quarter. Its GAAP net loss narrowed to $5.7 million, or $0.03 per share, from $23.8 million, or $0.11 per share, a year earlier—evidence of improved results, although not yet GAAP profitability. Company earnings release
- Negative Sentiment: Despite the improvement, CLNE still posted a GAAP loss. The persistence of losses may temper investor enthusiasm if the company does not continue to improve profitability. Q3 results coverage
Clean Energy Fuels Profile
Clean Energy Fuels Corp. (NASDAQ: CLNE) provides fueling solutions for medium- and heavy-duty vehicle fleets in North America. The company develops, owns and operates natural gas fueling stations and supplies transportation fuel to customers such as refuse and recycling companies, transit agencies, trucking operators, airports and other commercial fleets.
Its offerings include compressed natural gas (CNG), liquefied natural gas (LNG) and renewable natural gas (RNG). Clean Energy also provides station construction, operation and maintenance services, fleet fueling support, and related infrastructure solutions.
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