Clean Energy Fuels (NASDAQ:CLNE) Stock Passes Above 200 Day Moving Average - What's Next?

Clean Energy Fuels Corp. (NASDAQ:CLNE - Get Free Report) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-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 changing hands.

Wall Street Analyst Weigh In

CLNE has been the subject of a number of analyst reports. Lake Street Capital cut their target price on Clean Energy Fuels from $22.00 to $5.00 and set a "buy" rating for the company in a research note on Friday, May 9th. UBS Group set a $2.00 target price on Clean Energy Fuels and gave the stock a "buy" rating in a research note on Sunday, April 13th. Finally, Scotiabank cut their target price on Clean Energy Fuels from $6.00 to $4.00 and set a "sector outperform" rating for the company in a research note on Friday, April 11th. One investment analyst has rated the stock with a sell rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $3.75.

Clean Energy Fuels Trading Down 1.4%

The business has a fifty day simple moving average of $1.89 and a 200 day simple moving average of $2.14. The stock has a market cap of $483.95 million, a price-to-earnings ratio of -2.49 and a beta of 2.63. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.50 and a current ratio of 2.82.

Clean Energy Fuels (NASDAQ:CLNE - Get Free Report) last announced its earnings results on Thursday, May 8th. The utilities provider reported $0.01 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $96.61 million. During the same quarter in the prior year, the firm earned ($0.01) EPS. Clean Energy Fuels's quarterly revenue was up .1% on a year-over-year basis. As a group, equities analysts anticipate that Clean Energy Fuels Corp. will post -0.33 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Global Alpha Capital Management Ltd. lifted its stake in shares of Clean Energy Fuels by 31.9% during the first quarter. Global Alpha Capital Management Ltd. now owns 9,750,076 shares of the utilities provider's stock worth $15,113,000 after purchasing an additional 2,357,600 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Clean Energy Fuels by 1.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 9,498,040 shares of the utilities provider's stock worth $23,840,000 after acquiring an additional 124,031 shares during the last quarter. SIR Capital Management L.P. increased its position in shares of Clean Energy Fuels by 7.3% during the fourth quarter. SIR Capital Management L.P. now owns 2,520,941 shares of the utilities provider's stock worth $6,328,000 after acquiring an additional 171,018 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Clean Energy Fuels by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,455,351 shares of the utilities provider's stock worth $3,653,000 after acquiring an additional 12,169 shares during the last quarter. Finally, Voya Investment Management LLC increased its position in shares of Clean Energy Fuels by 36.9% during the first quarter. Voya Investment Management LLC now owns 1,272,888 shares of the utilities provider's stock worth $1,973,000 after acquiring an additional 342,982 shares during the last quarter. Institutional investors and hedge funds own 49.94% of the company's stock.

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.