Russell Investments Group Ltd. Boosts Stake in Clean Energy Fuels Corp. $CLNE

Key Points

• Russell Investments Group Ltd. increased its position in Clean Energy Fuels Corp. by 33.4% in Q1, owning 537,421 shares valued at approximately $833,000.
• Clean Energy Fuels reported a 4.8% increase in quarterly revenue year-over-year, reaching $102.61 million, despite having a net margin of -48.40%.
• Analysts have mixed ratings on the stock, with an average target price of $3.59, while several firms have lowered their price targets significantly.

Russell Investments Group Ltd. lifted its stake in Clean Energy Fuels Corp. (NASDAQ:CLNE - Free Report) by 33.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 537,421 shares of the utilities provider's stock after purchasing an additional 134,481 shares during the quarter. Russell Investments Group Ltd. owned about 0.24% of Clean Energy Fuels worth $833,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. GTS Securities LLC boosted 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 in the last quarter. Invesco Ltd. lifted its position in Clean Energy Fuels by 1.2% in the 4th quarter. Invesco Ltd. now owns 349,650 shares of the utilities provider's stock valued at $878,000 after acquiring an additional 4,108 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Clean Energy Fuels by 4.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 97,684 shares of the utilities provider's stock valued at $245,000 after acquiring an additional 4,215 shares in the last quarter. Tower Research Capital LLC TRC lifted 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 acquiring an additional 4,894 shares in the last quarter. Finally, Rafferty Asset Management LLC lifted its position in Clean Energy Fuels by 4.6% in the 4th quarter. Rafferty Asset Management LLC now owns 156,428 shares of the utilities provider's stock valued at $393,000 after acquiring an additional 6,863 shares in the last quarter. 49.94% of the stock is owned by institutional investors.

Clean Energy Fuels Stock Performance

CLNE traded down $0.01 during mid-day trading on Monday, reaching $2.63. 1,336,539 shares of the company traded hands, compared to its average volume of 2,081,571. The stock has a market capitalization of $576.73 million, a P/E ratio of -2.92 and a beta of 2.69. The company has a quick ratio of 2.51, a current ratio of 2.83 and a debt-to-equity ratio of 0.47. The company's fifty day moving average price is $2.19 and its 200-day moving average price is $1.93. Clean Energy Fuels Corp. has a 52-week low of $1.30 and a 52-week high of $3.67.

Clean Energy Fuels (NASDAQ:CLNE - Get Free Report) last announced its earnings results on Thursday, August 7th. The utilities provider reported ($0.01) earnings per share for the quarter, beating analysts' consensus estimates of ($0.07) by $0.06. The business had revenue of $102.61 million during the quarter, compared to analyst estimates of $94.73 million. Clean Energy Fuels had a negative net margin of 48.40% and a negative return on equity of 27.98%. The company's quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.01 EPS. On average, sell-side analysts expect that Clean Energy Fuels Corp. will post -0.33 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CLNE. UBS Group reaffirmed a "buy" rating and issued a $2.75 price objective (up from $2.00) on shares of Clean Energy Fuels in a research report on Tuesday, August 12th. Jefferies Financial Group cut Clean Energy Fuels from a "buy" rating to a "hold" rating and set a $2.20 price objective on the stock. in a research report on Friday, August 8th. Finally, Lake Street Capital lowered their price objective on 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 analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus 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.