Clean Energy Fuels Corp. (NASDAQ:CLNE) Stock Position Decreased by Bank of America Corp DE

Bank of America Corp DE cut its stake in shares of Clean Energy Fuels Corp. (NASDAQ:CLNE - Free Report) by 93.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 75,392 shares of the utilities provider's stock after selling 1,016,067 shares during the quarter. Bank of America Corp DE's holdings in Clean Energy Fuels were worth $189,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Two Sigma Securities LLC acquired a new stake in shares of Clean Energy Fuels in the 4th quarter worth about $31,000. Tower Research Capital LLC TRC increased its stake in shares of 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 purchasing an additional 4,894 shares during the period. Cibc World Markets Corp acquired a new stake in shares of Clean Energy Fuels in the fourth quarter valued at approximately $40,000. Versor Investments LP bought a new stake in shares of Clean Energy Fuels during the fourth quarter valued at approximately $45,000. Finally, Zacks Investment Management boosted its position in shares of Clean Energy Fuels by 95.0% during the fourth quarter. Zacks Investment Management now owns 26,623 shares of the utilities provider's stock worth $67,000 after buying an additional 12,970 shares during the period. 49.94% of the stock is currently owned by institutional investors and hedge funds.

Clean Energy Fuels Price Performance

Shares of CLNE traded up $0.01 during midday trading on Thursday, reaching $1.97. The stock had a trading volume of 2,452,671 shares, compared to its average volume of 2,212,516. 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 company has a market capitalization of $435.33 million, a P/E ratio of -2.24 and a beta of 2.64. The firm's 50 day moving average price is $1.71 and its 200-day moving average price is $2.22. Clean Energy Fuels Corp. has a 52 week low of $1.30 and a 52 week high of $3.67.

Clean Energy Fuels (NASDAQ:CLNE - Get Free Report) last released its earnings results on Thursday, May 8th. The utilities provider reported $0.01 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $96.61 million. During the same period in the previous year, the company earned ($0.01) earnings per share. Clean Energy Fuels's revenue was up .1% compared to the same quarter last year. On average, analysts forecast that Clean Energy Fuels Corp. will post -0.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CLNE. Wall Street Zen downgraded Clean Energy Fuels from a "hold" rating to a "sell" rating in a research note on Wednesday, February 26th. UBS Group set a $2.00 price target on Clean Energy Fuels and gave the company a "buy" rating in a report on Sunday, April 13th. Lake Street Capital reduced their price objective on shares of Clean Energy Fuels from $22.00 to $5.00 and set a "buy" rating for the company in a report on Friday, May 9th. Scotiabank decreased their target price on shares of Clean Energy Fuels from $6.00 to $4.00 and set a "sector outperform" rating for the company in a research report on Friday, April 11th. Finally, Raymond James Financial reissued a "strong-buy" rating and set a $4.00 target price (down previously from $5.00) on shares of Clean Energy Fuels in a research note on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $3.75.

Clean Energy Fuels 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.