Clean Energy Fuels Corp. $CLNE Stock Position Increased by GMT Capital Corp

Key Points

• GMT Capital Corp increased its stake in Clean Energy Fuels Corp. by 211.3%, acquiring an additional 521,089 shares during the first quarter, bringing its total holdings to 767,758 shares.
• Recent earnings results showed Clean Energy Fuels reporting a net revenue of $102.61 million, surpassing analyst expectations of $94.73 million, while the company had a negative EPS of ($0.01).
• Analysts have mixed ratings for Clean Energy Fuels, with a consensus rating of "Buy" and a target price averaging $3.59, despite adjustments from various firms lowering their price objectives.

GMT Capital Corp grew its stake in shares of Clean Energy Fuels Corp. (NASDAQ:CLNE - Free Report) by 211.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 767,758 shares of the utilities provider's stock after acquiring an additional 521,089 shares during the period. GMT Capital Corp owned about 0.35% of Clean Energy Fuels worth $1,190,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in CLNE. Invesco Ltd. grew its holdings in Clean Energy Fuels by 1.2% during the 4th quarter. Invesco Ltd. now owns 349,650 shares of the utilities provider's stock worth $878,000 after acquiring an additional 4,108 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Clean Energy Fuels by 55.2% during the 4th quarter. Renaissance Technologies LLC now owns 59,900 shares of the utilities provider's stock worth $150,000 after acquiring an additional 21,300 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Clean Energy Fuels during the 4th quarter worth $169,000. Barclays PLC grew its holdings in Clean Energy Fuels by 26.7% during the 4th quarter. Barclays PLC now owns 337,152 shares of the utilities provider's stock worth $846,000 after acquiring an additional 71,048 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Clean Energy Fuels by 1.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,498,040 shares of the utilities provider's stock worth $23,840,000 after acquiring an additional 124,031 shares in the last quarter. 49.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CLNE. UBS Group reissued a "buy" rating and set a $2.75 price objective (up from $2.00) on shares of Clean Energy Fuels in a report on Tuesday, August 12th. Jefferies Financial Group lowered shares of Clean Energy Fuels from a "buy" rating to a "hold" rating and set a $2.20 price objective for the company. in a report on Friday, August 8th. Finally, Lake Street Capital reduced 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 report on Friday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $3.59.

Clean Energy Fuels Stock Performance

Shares of Clean Energy Fuels stock traded down $0.01 during trading hours on Monday, reaching $2.63. The company's stock had a trading volume of 1,336,539 shares, compared to its average volume of 2,081,571. The company's 50 day simple moving average is $2.19 and its 200 day simple moving average is $1.93. 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 one year low of $1.30 and a one year high of $3.67. The stock has a market cap of $576.73 million, a P/E ratio of -2.92 and a beta of 2.69.

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

Clean Energy Fuels Company 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.