Rafferty Asset Management LLC Buys 109,522 Shares of Clean Energy Fuels Corp. $CLNE

Key Points

• Rafferty Asset Management LLC increased its stake in Clean Energy Fuels Corp. by 70.0%, acquiring an additional 109,522 shares, bringing its total holdings to 265,950 shares valued at approximately $412,000.
• Institutional investors own nearly 50% of Clean Energy Fuels' stock, with several firms, including Balyasny Asset Management and Tower Research Capital, recently acquiring new positions.
• Analysts have mixed ratings for the stock, with Jefferies Financial Group downgrading it to "hold" while UBS Group raised its price target, reflecting varied outlooks among market experts.

Rafferty Asset Management LLC boosted its stake in Clean Energy Fuels Corp. (NASDAQ:CLNE - Free Report) by 70.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 265,950 shares of the utilities provider's stock after buying an additional 109,522 shares during the quarter. Rafferty Asset Management LLC owned approximately 0.12% of Clean Energy Fuels worth $412,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of CLNE. Balyasny Asset Management L.P. purchased a new stake in Clean Energy Fuels in the 4th quarter valued at $31,000. Tower Research Capital LLC TRC raised its position in Clean Energy Fuels by 56.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 13,584 shares of the utilities provider's stock valued at $34,000 after buying an additional 4,894 shares during the last quarter. Aigen Investment Management LP bought a new position in Clean Energy Fuels in the 1st quarter valued at $36,000. Teacher Retirement System of Texas purchased a new stake in shares of Clean Energy Fuels during the 1st quarter valued at $38,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Clean Energy Fuels during the 1st quarter valued at $51,000. 49.94% of the stock is owned by hedge funds and other institutional investors.

Clean Energy Fuels Price Performance

NASDAQ CLNE traded down $0.06 during trading hours on Friday, hitting $2.49. The company had a trading volume of 812,116 shares, compared to its average volume of 1,985,646. Clean Energy Fuels Corp. has a 52 week low of $1.30 and a 52 week high of $3.67. The firm has a 50 day simple moving average of $2.25 and a 200 day simple moving average of $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. The firm has a market capitalization of $546.03 million, a price-to-earnings ratio of -2.77 and a beta of 2.70.

Clean Energy Fuels (NASDAQ:CLNE - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The utilities provider reported ($0.01) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.07) by $0.06. The firm had revenue of $102.61 million during the quarter, compared to the consensus estimate 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 company's revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter last year, the company posted $0.01 EPS. Equities research analysts expect that Clean Energy Fuels Corp. will post -0.33 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. 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, August 12th. Jefferies Financial Group lowered Clean Energy Fuels from a "buy" rating to a "hold" rating and set a $2.20 target price for the company. in a research report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $3.59.

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.