Algert Global LLC Buys 436,890 Shares of Clean Energy Fuels Corp. $CLNE

Key Points

• Algert Global LLC significantly increased its stake in Clean Energy Fuels Corp., acquiring an additional 436,890 shares, resulting in a total of 536,100 shares owned, worth approximately $831,000.
• Several other institutional investors, including American Century Companies and Russell Investments Group, have also increased their holdings in Clean Energy Fuels during the same quarter.
• Research analysts have mixed views on the stock, with one maintaining a "Strong Buy" rating and others adjusting price targets, leading to a consensus target price of $3.59.

Algert Global LLC raised its holdings in shares of Clean Energy Fuels Corp. (NASDAQ:CLNE - Free Report) by 440.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 536,100 shares of the utilities provider's stock after acquiring an additional 436,890 shares during the quarter. Algert Global LLC owned approximately 0.24% of Clean Energy Fuels worth $831,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. American Century Companies Inc. boosted its stake in shares of Clean Energy Fuels by 11.1% during the 1st quarter. American Century Companies Inc. now owns 386,273 shares of the utilities provider's stock worth $599,000 after acquiring an additional 38,711 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Clean Energy Fuels by 33.4% during the 1st quarter. Russell Investments Group Ltd. now owns 537,421 shares of the utilities provider's stock worth $833,000 after acquiring an additional 134,481 shares during the last quarter. Nuveen LLC purchased a new position in shares of Clean Energy Fuels during the 1st quarter worth $1,005,000. Aigen Investment Management LP purchased a new position in shares of Clean Energy Fuels during the 1st quarter worth $36,000. Finally, Invesco Ltd. boosted its stake in shares of Clean Energy Fuels by 8.6% during the 1st quarter. Invesco Ltd. now owns 379,858 shares of the utilities provider's stock worth $589,000 after acquiring an additional 30,208 shares during the last quarter. Hedge funds and other institutional investors own 49.94% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Jefferies Financial Group cut shares of Clean Energy Fuels from a "buy" rating to a "hold" rating and set a $2.20 price target on the stock. in a research note on Friday, August 8th. Lake Street Capital dropped their price target on shares of Clean Energy Fuels from $22.00 to $5.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Finally, UBS Group reiterated a "buy" rating and set a $2.75 price target (up previously from $2.00) on shares of Clean Energy Fuels in a research note on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $3.59.

Clean Energy Fuels Stock Up 5.4%

CLNE opened at $2.53 on Friday. 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 Corp. has a fifty-two week low of $1.30 and a fifty-two week high of $3.67. The firm's fifty day moving average is $2.11 and its 200 day moving average is $1.97. The stock has a market cap of $554.80 million, a price-to-earnings ratio of -2.81 and a beta of 2.65.

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

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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