Rice Hall James & Associates LLC Lowers Position in Clean Energy Fuels Corp. (NASDAQ:CLNE)

Rice Hall James & Associates LLC cut its stake in Clean Energy Fuels Corp. (NASDAQ:CLNE - Free Report) by 68.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 315,180 shares of the utilities provider's stock after selling 696,895 shares during the quarter. Rice Hall James & Associates LLC owned 0.14% of Clean Energy Fuels worth $489,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Balyasny Asset Management L.P. acquired a new stake in shares of Clean Energy Fuels in the 4th quarter valued at approximately $31,000. Two Sigma Securities LLC acquired a new stake in shares of Clean Energy Fuels during the fourth quarter worth $31,000. Tower Research Capital LLC TRC raised its stake in Clean Energy Fuels by 56.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 13,584 shares of the utilities provider's stock valued at $34,000 after purchasing an additional 4,894 shares in the last quarter. Cibc World Markets Corp acquired a new position in Clean Energy Fuels in the fourth quarter valued at about $40,000. Finally, Teacher Retirement System of Texas bought a new position in Clean Energy Fuels in the first quarter valued at about $38,000. 49.94% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CLNE has been the topic of several research reports. UBS Group set a $2.00 price target on Clean Energy Fuels and gave the stock a "buy" rating in a report on Sunday, April 13th. Lake Street Capital reduced their target price on Clean Energy Fuels from $22.00 to $5.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Finally, Scotiabank reduced their target price on Clean Energy Fuels from $6.00 to $4.00 and set a "sector outperform" rating on the stock in a report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $3.75.

Clean Energy Fuels Price Performance

CLNE remained flat at $2.04 during trading on Thursday. The company's stock had a trading volume of 1,366,391 shares, compared to its average volume of 2,259,497. Clean Energy Fuels Corp. has a 12-month low of $1.30 and a 12-month high of $3.67. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.82 and a quick ratio of 2.50. The business's fifty day simple moving average is $1.94 and its two-hundred day simple moving average is $2.12. The stock has a market capitalization of $450.80 million, a price-to-earnings ratio of -2.32 and a beta of 2.63.

Clean Energy Fuels (NASDAQ:CLNE - Get Free Report) last issued its earnings results on Thursday, May 8th. The utilities provider reported $0.01 earnings per share for the quarter, topping analysts' consensus estimates of ($0.20) by $0.21. Clean Energy Fuels had a negative return on equity of 26.37% and a negative net margin of 47.99%. The company had revenue of $103.76 million for the quarter, compared to analyst estimates of $96.61 million. During the same period in the prior year, the firm earned ($0.01) earnings per share. Clean Energy Fuels's revenue for the quarter was up .1% on a year-over-year basis. Equities research 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.