Clean Energy Fuels (NASDAQ:CLNE) Trading Up 5.8% - Still a Buy?

Key Points

• Clean Energy Fuels Corp. shares saw a 5.8% increase, trading at $2.81, although trading volume was significantly down by 87% compared to its average.
• Analysts have mixed ratings, with Jefferies cutting their rating from "buy" to "hold" with a target price of $2.20, while UBS maintains a "buy" rating and increased their target to $2.75.
• The company reported a revenue of $102.61 million for the last quarter, surpassing expectations, along with a smaller-than-expected loss of ($0.01) EPS, compared to the anticipated ($0.07).

Clean Energy Fuels Corp. (NASDAQ:CLNE - Get Free Report) shares were up 5.8% during mid-day trading on Friday . The company traded as high as $2.77 and last traded at $2.81. Approximately 313,858 shares traded hands during trading, a decline of 87% from the average daily volume of 2,502,788 shares. The stock had previously closed at $2.65.

Analyst Ratings Changes

A number of equities analysts recently issued reports on CLNE shares. Jefferies Financial Group cut Clean Energy Fuels from a "buy" rating to a "hold" rating and set a $2.20 price objective for the company. in a report on Friday, August 8th. UBS Group restated a "buy" rating and set a $2.75 price objective (up previously from $2.00) on shares of Clean Energy Fuels in a report on Tuesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $3.59.

Clean Energy Fuels Stock Up 5.5%

The firm has a market capitalization of $612.92 million, a PE ratio of -3.11 and a beta of 2.70. The company has a fifty day simple moving average of $2.38 and a two-hundred day simple moving average of $1.97. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.51 and a current ratio of 2.83.

Clean Energy Fuels (NASDAQ:CLNE - Get Free Report) last issued its earnings results on Thursday, August 7th. The utilities provider reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.06. Clean Energy Fuels had a negative return on equity of 27.98% and a negative net margin of 48.40%.The business had revenue of $102.61 million during the quarter, compared to analysts' expectations of $94.73 million. During the same period in the prior year, the business earned $0.01 EPS. The business's revenue for the quarter was up 4.8% compared to the same quarter last year. Analysts forecast that Clean Energy Fuels Corp. will post -0.33 EPS for the current fiscal year.

Insider Buying and Selling at Clean Energy Fuels

In other news, SVP Barclay Corbus sold 105,300 shares of the business's stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $2.63, for a total value of $276,939.00. Following the completion of the transaction, the senior vice president directly owned 1,061,248 shares of the company's stock, valued at approximately $2,791,082.24. The trade was a 9.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 4.30% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. NewEdge Advisors LLC raised its position in shares of Clean Energy Fuels by 1,419,900.0% in the 2nd quarter. NewEdge Advisors LLC now owns 14,200 shares of the utilities provider's stock worth $28,000 after acquiring an additional 14,199 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Clean Energy Fuels by 140.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 14,971 shares of the utilities provider's stock worth $29,000 after acquiring an additional 8,738 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of Clean Energy Fuels by 54.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 14,844 shares of the utilities provider's stock worth $29,000 after acquiring an additional 5,254 shares in the last quarter. Aigen Investment Management LP bought a new position in shares of Clean Energy Fuels in the 1st quarter worth $36,000. Finally, Catalyst Funds Management Pty Ltd bought a new position in shares of Clean Energy Fuels in the 2nd quarter worth $37,000. 49.94% of the stock is owned by institutional investors.

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.

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