J. Derek Lewis & Associates Inc. Cuts Position in Clean Energy Fuels Corp. $CLNE

Key Points

• J. Derek Lewis & Associates cut its Clean Energy Fuels position by 32.9%, selling 613,822 shares and retaining 1.25 million shares worth approximately $3.1 million. Institutional investors collectively own 49.94% of CLNE.
• Analyst sentiment remains cautious: UBS downgraded the stock to “hold,” Weiss Ratings reiterated a “sell” rating, and the consensus rating is “Reduce” with a $2.48 price target.
• Clean Energy Fuels reported better-than-expected quarterly results, with EPS of negative $0.01 versus the estimated negative $0.02 and revenue of $117.56 million, up 13.3% year over year; however, the company remains unprofitable.

J. Derek Lewis & Associates Inc. cut its holdings in Clean Energy Fuels Corp. (NASDAQ:CLNE - Free Report) by 32.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,250,358 shares of the utilities provider's stock after selling 613,822 shares during the period. Clean Energy Fuels comprises approximately 0.7% of J. Derek Lewis & Associates Inc.'s portfolio, making the stock its 26th biggest holding. J. Derek Lewis & Associates Inc. owned about 0.57% of Clean Energy Fuels worth $3,101,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of CLNE. JPMorgan Chase & Co. boosted its position in Clean Energy Fuels by 765.1% in the third quarter. JPMorgan Chase & Co. now owns 2,457,876 shares of the utilities provider's stock worth $6,341,000 after purchasing an additional 2,173,771 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in Clean Energy Fuels in the 1st quarter valued at $3,160,000. Millennium Management LLC increased its position in shares of Clean Energy Fuels by 619.2% during the 4th quarter. Millennium Management LLC now owns 1,307,977 shares of the utilities provider's stock valued at $2,747,000 after purchasing an additional 1,126,100 shares during the last quarter. Algert Global LLC increased its position in shares of Clean Energy Fuels by 1,007.1% during the 3rd quarter. Algert Global LLC now owns 800,849 shares of the utilities provider's stock valued at $2,066,000 after purchasing an additional 728,509 shares during the last quarter. Finally, Manatuck Hill Partners LLC bought a new stake in shares of Clean Energy Fuels during the 2nd quarter worth $878,000. 49.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Clean Energy Fuels in a report on Friday, July 17th. UBS Group lowered shares of Clean Energy Fuels from a "buy" rating to a "hold" rating and set a $2.75 price objective on the stock. in a research report on Friday, July 17th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Reduce" and a consensus price target of $2.48.

Clean Energy Fuels Stock Performance

NASDAQ:CLNE opened at $1.93 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.46 and a quick ratio of 2.14. The business has a fifty day simple moving average of $2.03 and a two-hundred day simple moving average of $2.21. Clean Energy Fuels Corp. has a 1 year low of $1.66 and a 1 year high of $3.11. The company has a market capitalization of $425.03 million, a P/E ratio of -4.20 and a beta of 1.82.

Clean Energy Fuels (NASDAQ:CLNE - Get Free Report) last issued its earnings results 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 analyst estimates of $102.62 million. Clean Energy Fuels had a negative return on equity of 14.04% and a negative net margin of 22.68%.The business's revenue was up 13.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.01 earnings per share. On average, analysts expect that Clean Energy Fuels Corp. will post -0.31 earnings per share for the current year.

Insider Transactions at Clean Energy Fuels

In related news, Director Andrew J. Littlefair sold 165,000 shares of the business's stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $2.05, for a total value of $338,250.00. Following the sale, the director directly owned 1,914,993 shares in the company, valued at approximately $3,925,735.65. The trade was a 7.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.12% of the company's stock.

Clean Energy Fuels Company 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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