Dimensional Fund Advisors LP Reduces Holdings in Clean Energy Fuels Corp. $CLNE

Key Points

• Dimensional Fund Advisors reduced its Clean Energy Fuels stake by 11%, selling 811,765 shares and retaining 6.55 million shares valued at approximately $16.2 million. Institutional investors collectively own about 49.94% of CLNE.
• Clean Energy Fuels shares opened at $1.57, down 15.3%, near the company’s 52-week low of $1.57. The stock has a market capitalization of roughly $346.9 million.
• Analyst sentiment remains cautious: UBS downgraded CLNE to “hold,” Weiss Ratings maintained a “sell” rating, and the consensus rating is “Reduce” with a $2.75 average price target. The company recently beat quarterly EPS and revenue estimates, with revenue up 13.3% year over year, but remains unprofitable.

Dimensional Fund Advisors LP lowered its position in Clean Energy Fuels Corp. (NASDAQ:CLNE - Free Report) by 11.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,545,336 shares of the utilities provider's stock after selling 811,765 shares during the quarter. Dimensional Fund Advisors LP owned about 2.97% of Clean Energy Fuels worth $16,235,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. NewEdge Advisors LLC boosted its stake in Clean Energy Fuels by 1,419,900.0% in the second quarter. NewEdge Advisors LLC now owns 14,200 shares of the utilities provider's stock valued at $28,000 after acquiring an additional 14,199 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Clean Energy Fuels by 54.8% in the second quarter. BNP Paribas Financial Markets now owns 14,844 shares of the utilities provider's stock valued at $29,000 after purchasing an additional 5,254 shares during the period. R Squared Ltd acquired a new stake in Clean Energy Fuels during the 1st quarter valued at approximately $31,000. Mercer Global Advisors Inc. ADV purchased a new position in shares of Clean Energy Fuels during the 4th quarter valued at about $31,000. Finally, CWM LLC increased its holdings in shares of Clean Energy Fuels by 40.3% during the 4th quarter. CWM LLC now owns 16,683 shares of the utilities provider's stock valued at $35,000 after purchasing an additional 4,791 shares in the last quarter. 49.94% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Clean Energy Fuels

In related news, Director Andrew J. Littlefair sold 165,000 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $2.05, for a total value of $338,250.00. Following the transaction, the director owned 1,914,993 shares of the company's stock, valued at $3,925,735.65. This represents a 7.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 4.12% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CLNE. Weiss Ratings restated a "sell (d-)" rating on shares of Clean Energy Fuels in a research report on Friday, July 17th. UBS Group downgraded shares of Clean Energy Fuels from a "buy" rating to a "hold" rating and set a $2.75 target price on the stock. in a research note on Friday, July 17th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and an average price target of $2.75.

Clean Energy Fuels Stock Down 15.3%

Clean Energy Fuels stock opened at $1.57 on Friday. The company has a market capitalization of $346.86 million, a PE ratio of -3.58 and a beta of 1.85. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.14 and a current ratio of 2.46. Clean Energy Fuels Corp. has a fifty-two week low of $1.57 and a fifty-two week high of $3.11. The firm has a 50 day moving average price of $2.00 and a 200 day moving average price of $2.20.

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 (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.01. The firm had revenue of $117.56 million for the quarter, compared to the consensus estimate of $102.62 million. Clean Energy Fuels had a negative return on equity of 16.41% and a negative net margin of 21.27%.The company's quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.01 EPS. Research analysts expect that Clean Energy Fuels Corp. will post -0.31 earnings per share for the current year.

Clean Energy Fuels Profile

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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