Clean Energy Fuels (NASDAQ:CLNE) Stock Passes Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Clean Energy Fuels (CLNE) shares moved above their 200-day moving average, trading as high as $2.43 and last changing hands around $2.38. The move may draw technical traders’ attention, but the stock remains near its consensus target of $2.48.
• Analyst sentiment remains cautious: UBS downgraded the stock from buy to neutral, while Weiss Ratings reiterated a sell rating. Overall, MarketBeat data shows a consensus rating of Reduce.
• The company recently beat quarterly expectations, posting a smaller-than-expected loss and stronger revenue of $117.56 million, up 13.3% year over year. However, Clean Energy Fuels still has negative profitability metrics, and an insider sold 165,000 shares in May.

Clean Energy Fuels Corp. (NASDAQ:CLNE - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-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.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on CLNE shares. UBS Group downgraded Clean Energy Fuels from a "buy" rating to a "neutral" rating and set a $2.75 price target for the company. in a report on Friday. Weiss Ratings reiterated a "sell (d-)" rating on shares of Clean Energy Fuels in a research note on Monday, April 20th. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Reduce" and a consensus target price of $2.48.

Clean Energy Fuels Stock Performance

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 fifty day moving average price of $2.03 and a two-hundred day moving average price of $2.22. The company has a market cap of $524.15 million, a P/E ratio of -5.17 and a beta of 1.82.

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

Insider Buying and Selling at Clean Energy Fuels

In related news, Director Andrew J. Littlefair sold 165,000 shares of Clean Energy Fuels stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $2.05, for a total transaction of $338,250.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.12% of the stock is currently owned by corporate insiders.

Institutional Trading of Clean Energy Fuels

A number of hedge funds and other institutional investors have recently made changes to their positions in CLNE. AQR Capital Management LLC boosted its holdings in shares of Clean Energy Fuels by 458.4% in the first quarter. AQR Capital Management LLC now owns 407,394 shares of the utilities provider's stock valued at $631,000 after acquiring an additional 334,437 shares in the last quarter. Empowered Funds LLC bought a new stake in Clean Energy Fuels during the first quarter worth approximately $579,000. Jane Street Group LLC lifted its position in Clean Energy Fuels by 13.5% in the first quarter. Jane Street Group LLC now owns 365,564 shares of the utilities provider's stock worth $567,000 after purchasing an additional 43,384 shares during the period. Creative Planning lifted its position in Clean Energy Fuels by 72.4% in the second quarter. Creative Planning now owns 53,339 shares of the utilities provider's stock worth $104,000 after purchasing an additional 22,400 shares during the period. Finally, Franklin Resources Inc. lifted its position in Clean Energy Fuels by 6.0% in the second quarter. Franklin Resources Inc. now owns 126,655 shares of the utilities provider's stock worth $247,000 after purchasing an additional 7,142 shares during the period. 49.94% of the stock is currently owned by institutional investors.

About Clean Energy Fuels

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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