Clean Energy Fuels Corp. (NASDAQ:CLNE) Shares Sold by Bank of America Corp DE

Bank of America Corp DE cut its position in Clean Energy Fuels Corp. (NASDAQ:CLNE - Free Report) by 93.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Two Sigma Securities LLC purchased a new stake in Clean Energy Fuels during the fourth quarter valued at approximately $31,000. Tower Research Capital LLC TRC increased its position in shares of Clean Energy Fuels by 56.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 13,584 shares of the utilities provider's stock worth $34,000 after purchasing an additional 4,894 shares in the last quarter. Cibc World Markets Corp acquired a new position in shares of Clean Energy Fuels during the fourth quarter worth $40,000. Versor Investments LP purchased a new stake in shares of Clean Energy Fuels during the 4th quarter valued at $45,000. Finally, Zacks Investment Management boosted its position in shares of Clean Energy Fuels by 95.0% in the 4th quarter. Zacks Investment Management now owns 26,623 shares of the utilities provider's stock worth $67,000 after purchasing an additional 12,970 shares in the last quarter. 49.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Clean Energy Fuels Stock Down 3.4%

CLNE traded down $0.07 during midday trading on Tuesday, hitting $1.96. 2,743,724 shares of the company were exchanged, compared to its average volume of 2,210,534. The company's 50 day simple moving average is $1.69 and its 200 day simple moving average is $2.22. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.82 and a quick ratio of 2.50. Clean Energy Fuels Corp. has a 1-year low of $1.30 and a 1-year high of $3.67.

Clean Energy Fuels (NASDAQ:CLNE - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The utilities provider reported $0.01 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $103.76 million during the quarter, compared to analysts' expectations of $96.61 million. During the same period last year, the business earned ($0.01) earnings per share. Clean Energy Fuels's quarterly revenue was up .1% on a year-over-year basis. Equities research analysts expect that Clean Energy Fuels Corp. will post -0.33 earnings per share for the current fiscal year.

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.