Clean Energy Fuels (NASDAQ:CLNE) Shares Cross Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Clean Energy Fuels shares moved above their 200-day moving average, trading as high as $2.27 before last changing hands at $2.15 on heavy volume.
• The company’s latest earnings beat expectations, reporting a smaller-than-expected loss of ($0.01) per share and revenue of $117.56 million, which was above analyst estimates and up 13.3% year over year.
• Sentiment remains mixed: one analyst rates the stock a buy, one hold, and one sell, while director Andrew J. Littlefair recently sold 165,000 shares; institutional ownership remains significant at 49.94%.

Clean Energy Fuels Corp. (NASDAQ:CLNE - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.22 and traded as high as $2.27. Clean Energy Fuels shares last traded at $2.15, with a volume of 2,614,981 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a "sell (d-)" rating on shares of Clean Energy Fuels in a research report on Monday, April 20th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Clean Energy Fuels currently has an average rating of "Hold" and a consensus price target of $2.48.

Clean Energy Fuels Trading Down 4.0%

The company has a quick ratio of 2.14, a current ratio of 2.46 and a debt-to-equity ratio of 0.41. The company's 50-day moving average is $2.02 and its 200-day moving average is $2.22. The stock has a market capitalization of $473.49 million, a price-to-earnings ratio of -4.67 and a beta of 1.82.

Clean Energy Fuels (NASDAQ:CLNE - Get Free Report) last posted its earnings results on Thursday, May 7th. The utilities provider reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.01. The company had revenue of $117.56 million for the quarter, compared to analyst estimates of $102.62 million. Clean Energy Fuels had a negative net margin of 22.68% and a negative return on equity of 14.04%. Clean Energy Fuels's revenue was up 13.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.01 EPS. Research analysts anticipate that Clean Energy Fuels Corp. will post -0.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Andrew J. Littlefair sold 165,000 shares of the company's 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 owned 1,914,993 shares of the company's stock, valued at $3,925,735.65. This represents a 7.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.12% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of CLNE. JPMorgan Chase & Co. raised its stake in shares of Clean Energy Fuels by 765.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,457,876 shares of the utilities provider's stock valued at $6,341,000 after acquiring an additional 2,173,771 shares during the period. J. Derek Lewis & Associates Inc. purchased a new position in shares of Clean Energy Fuels during the 4th quarter worth approximately $3,915,000. Arrowstreet Capital Limited Partnership purchased a new position in shares of Clean Energy Fuels during the 1st quarter worth approximately $3,160,000. Millennium Management LLC increased its holdings in Clean Energy Fuels by 619.2% in the 4th quarter. Millennium Management LLC now owns 1,307,977 shares of the utilities provider's stock valued at $2,747,000 after purchasing an additional 1,126,100 shares during the last quarter. Finally, Algert Global LLC increased its holdings in Clean Energy Fuels by 1,007.1% in the 3rd quarter. Algert Global LLC now owns 800,849 shares of the utilities provider's stock valued at $2,066,000 after purchasing an additional 728,509 shares during 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.

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