Arrowstreet Capital Limited Partnership purchased a new position in Clean Energy Fuels Corp. (NASDAQ:CLNE - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,274,277 shares of the utilities provider's stock, valued at approximately $3,160,000. Arrowstreet Capital Limited Partnership owned 0.58% of Clean Energy Fuels at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Clean Energy Fuels by 3.1% during the 3rd quarter. Vanguard Group Inc. now owns 11,402,549 shares of the utilities provider's stock valued at $29,419,000 after buying an additional 341,333 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Clean Energy Fuels by 6.7% during the 4th quarter. JPMorgan Chase & Co. now owns 2,621,596 shares of the utilities provider's stock valued at $5,505,000 after buying an additional 163,720 shares during the period. SIR Capital Management L.P. grew its holdings in Clean Energy Fuels by 17.2% in the 4th quarter. SIR Capital Management L.P. now owns 2,103,095 shares of the utilities provider's stock worth $4,416,000 after acquiring an additional 308,300 shares during the last quarter. J. Derek Lewis & Associates Inc. bought a new stake in Clean Energy Fuels in the 4th quarter worth $3,915,000. Finally, Bridgeway Capital Management LLC increased its position in shares of Clean Energy Fuels by 29.5% in the fourth quarter. Bridgeway Capital Management LLC now owns 1,605,637 shares of the utilities provider's stock valued at $3,372,000 after acquiring an additional 365,647 shares during the period. Hedge funds and other institutional investors own 49.94% of the company's stock.
Clean Energy Fuels Stock Performance
Shares of CLNE opened at $1.87 on Wednesday. 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 business's 50 day moving average price is $2.02 and its 200-day moving average price is $2.21. Clean Energy Fuels Corp. has a 52 week low of $1.66 and a 52 week high of $3.11. The stock has a market cap of $411.83 million, a P/E ratio of -4.07 and a beta of 1.85.
Clean Energy Fuels (NASDAQ:CLNE - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The utilities provider reported ($0.01) earnings per share for the quarter, beating analysts' consensus estimates of ($0.02) by $0.01. Clean Energy Fuels had a negative return on equity of 14.04% and a negative net margin of 22.68%.The company had revenue of $117.56 million during the quarter, compared to analyst estimates of $102.62 million. During the same quarter last year, the company earned $0.01 EPS. The firm's revenue for the quarter was up 13.3% on a year-over-year basis. Equities research analysts anticipate that Clean Energy Fuels Corp. will post -0.31 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several brokerages have recently commented on CLNE. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Clean Energy Fuels in a research note on Friday, July 17th. UBS Group downgraded Clean Energy Fuels from a "buy" rating to a "hold" rating and set a $2.75 price target on the stock. in a report on Friday, July 17th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Clean Energy Fuels has an average rating of "Reduce" and a consensus price target of $2.48.
Read Our Latest Stock Analysis on CLNE
Insider Buying and Selling at Clean Energy Fuels
In related 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 transaction of $338,250.00. Following the completion of the sale, the director owned 1,914,993 shares in the company, valued at approximately $3,925,735.65. This represents a 7.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.12% of the stock is owned by insiders.
Clean Energy Fuels Profile
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Free Report)
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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