Global Alpha Capital Management Ltd. Acquires 2,357,600 Shares of Clean Energy Fuels Corp. (NASDAQ:CLNE)

Key Points

• Global Alpha Capital Management Ltd. increased its stake in Clean Energy Fuels Corp. by 31.9%, owning a total of 9,750,076 shares worth approximately $15.1 million after acquiring an additional 2,357,600 shares.
• Wall Street analysts have a mixed outlook for Clean Energy Fuels, with predictions ranging from a buy rating with targets as high as $5.00 to a sector outperform rating with a lower target of $4.00.
• Clean Energy Fuels reported a revenue of $102.61 million in its latest quarterly results, exceeding expectations, and had a negative earnings per share of (0.01), which was better than the forecast of (<0.07).

Global Alpha Capital Management Ltd. lifted its position in Clean Energy Fuels Corp. (NASDAQ:CLNE - Free Report) by 31.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,750,076 shares of the utilities provider's stock after acquiring an additional 2,357,600 shares during the quarter. Global Alpha Capital Management Ltd. owned 4.35% of Clean Energy Fuels worth $15,113,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Clean Energy Fuels during the 1st quarter valued at approximately $1,113,000. Coppell Advisory Solutions LLC boosted its position in Clean Energy Fuels by 1,635.8% during the 4th quarter. Coppell Advisory Solutions LLC now owns 734,640 shares of the utilities provider's stock worth $1,829,000 after acquiring an additional 692,318 shares during the period. D. E. Shaw & Co. Inc. boosted its position in Clean Energy Fuels by 56.9% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,241,708 shares of the utilities provider's stock worth $3,117,000 after acquiring an additional 450,143 shares during the period. GSA Capital Partners LLP boosted its position in Clean Energy Fuels by 293.9% during the 1st quarter. GSA Capital Partners LLP now owns 541,145 shares of the utilities provider's stock worth $839,000 after acquiring an additional 403,747 shares during the period. Finally, Tudor Investment Corp ET AL acquired a new position in Clean Energy Fuels during the 4th quarter worth $870,000. Institutional investors and hedge funds own 49.94% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on CLNE. Jefferies Financial Group downgraded Clean Energy Fuels from a "buy" rating to a "hold" rating and set a $2.20 price objective on the stock. in a research note on Friday, August 8th. Lake Street Capital cut their target price on 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, UBS Group reaffirmed a "buy" rating and set a $2.75 target price (up from $2.00) on shares of Clean Energy Fuels in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $3.59.

Clean Energy Fuels Price Performance

CLNE stock traded up $0.05 during midday trading on Wednesday, reaching $2.35. 1,351,919 shares of the company's stock traded hands, compared to its average volume of 2,694,560. The company has a 50-day simple moving average of $2.02 and a two-hundred day simple moving average of $2.02. Clean Energy Fuels Corp. has a 1-year low of $1.30 and a 1-year high of $3.67. The company has a market cap of $514.23 million, a price-to-earnings ratio of -2.61 and a beta of 2.65. The company has a quick ratio of 2.51, a current ratio of 2.83 and a debt-to-equity ratio of 0.47.

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