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

Clean Energy Fuels Corp. (NASDAQ:CLNE - Get Free Report)'s share price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $2.14 and traded as high as $2.17. Clean Energy Fuels shares last traded at $2.13, with a volume of 3,019,774 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CLNE. Scotiabank dropped their price target on shares of Clean Energy Fuels from $6.00 to $4.00 and set a "sector outperform" rating on the stock in a research note on Friday, April 11th. UBS Group set a $2.00 target price on shares of Clean Energy Fuels and gave the stock a "buy" rating in a research report on Sunday, April 13th. Finally, Lake Street Capital lowered their target price on shares of Clean Energy Fuels from $22.00 to $5.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $3.75.

Clean Energy Fuels Trading Up 0.5%

The company has a debt-to-equity ratio of 0.45, a current ratio of 2.82 and a quick ratio of 2.50. The business's 50-day moving average price is $1.88 and its 200-day moving average price is $2.14. The firm has a market capitalization of $490.58 million, a PE ratio of -2.52 and a beta of 2.63.

Clean Energy Fuels (NASDAQ:CLNE - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The utilities provider reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.21. Clean Energy Fuels had a negative return on equity of 26.37% and a negative net margin of 47.99%. The firm had revenue of $103.76 million during the quarter, compared to the consensus estimate of $96.61 million. During the same period last year, the company earned ($0.01) earnings per share. The company's revenue for the quarter was up .1% on a year-over-year basis. As a group, analysts expect that Clean Energy Fuels Corp. will post -0.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Clean Energy Fuels

Several hedge funds have recently modified their holdings of CLNE. Two Sigma Securities LLC acquired a new stake in shares of Clean Energy Fuels during the fourth quarter worth $31,000. Balyasny Asset Management L.P. acquired a new stake in Clean Energy Fuels in the fourth quarter valued at $31,000. Tower Research Capital LLC TRC lifted its holdings in Clean Energy Fuels by 56.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 13,584 shares of the utilities provider's stock valued at $34,000 after acquiring an additional 4,894 shares during the period. Aigen Investment Management LP acquired a new stake in Clean Energy Fuels in the first quarter valued at $36,000. Finally, Teacher Retirement System of Texas acquired a new stake in Clean Energy Fuels in the first quarter valued at $38,000. 49.94% of the stock is owned by institutional investors and hedge funds.

Clean Energy Fuels Company Profile

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.