Goldman Sachs Group Inc. Sells 258,306 Shares of Clean Energy Fuels Corp. $CLNE

Key Points

• Goldman Sachs Group Inc. has reduced its stake in Clean Energy Fuels Corp. by 22.5%, selling 258,306 shares, leaving them with approximately 887,207 shares valued at $1,375,000.
• Analysts' ratings for Clean Energy Fuels include one "Strong Buy," three "Buy," and one "Hold," with a consensus target price of $3.59.
• The company reported a revenue increase of 4.8% year-over-year, totaling $102.61 million, while surpassing earnings estimates with an EPS of -$0.01 compared to the expected -$0.07.

Goldman Sachs Group Inc. cut its stake in shares of Clean Energy Fuels Corp. (NASDAQ:CLNE - Free Report) by 22.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 887,207 shares of the utilities provider's stock after selling 258,306 shares during the quarter. Goldman Sachs Group Inc. owned 0.40% of Clean Energy Fuels worth $1,375,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in CLNE. Aigen Investment Management LP bought a new stake in shares of Clean Energy Fuels during the first quarter valued at approximately $36,000. Teacher Retirement System of Texas purchased a new stake in Clean Energy Fuels in the first quarter worth $38,000. GTS Securities LLC lifted its position in shares of Clean Energy Fuels by 16.8% in the 4th quarter. GTS Securities LLC now owns 27,446 shares of the utilities provider's stock worth $69,000 after purchasing an additional 3,955 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Clean Energy Fuels during the 1st quarter valued at $51,000. Finally, CWM LLC grew its stake in shares of Clean Energy Fuels by 820.1% during the first quarter. CWM LLC now owns 34,126 shares of the utilities provider's stock worth $53,000 after acquiring an additional 30,417 shares during the last quarter. 49.94% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Clean Energy Fuels news, SVP Barclay Corbus sold 105,300 shares of the business's stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $2.63, for a total transaction of $276,939.00. Following the sale, the senior vice president directly owned 1,061,248 shares of the company's stock, valued at $2,791,082.24. The trade was a 9.03% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 4.30% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on CLNE. UBS Group reissued a "buy" rating and issued a $2.75 price objective (up from $2.00) on shares of Clean Energy Fuels in a research note on Tuesday, August 12th. Jefferies Financial Group cut shares of 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. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Clean Energy Fuels currently has an average rating of "Buy" and a consensus price target of $3.59.

Clean Energy Fuels Stock Performance

Shares of NASDAQ:CLNE traded down $0.04 during midday trading on Friday, hitting $2.65. The company's stock had a trading volume of 3,007,167 shares, compared to its average volume of 1,274,226. The stock has a market capitalization of $581.12 million, a price-to-earnings ratio of -2.94 and a beta of 2.69. The stock's 50 day simple moving average is $2.33 and its 200 day simple moving average is $1.95. Clean Energy Fuels Corp. has a fifty-two week low of $1.30 and a fifty-two week high of $3.67. 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 (NASDAQ:CLNE - Get Free Report) last released its earnings results on Thursday, August 7th. The utilities provider reported ($0.01) earnings per share for the quarter, topping analysts' consensus estimates of ($0.07) by $0.06. Clean Energy Fuels had a negative return on equity of 27.98% and a negative net margin of 48.40%.The business had revenue of $102.61 million for the quarter, compared to the consensus estimate of $94.73 million. During the same period last year, the business earned $0.01 earnings per share. The firm's revenue for the quarter was up 4.8% compared to the same quarter last year. As a group, research analysts anticipate that Clean Energy Fuels Corp. will post -0.33 earnings per share for the current year.

About Clean Energy Fuels

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.