SIR Capital Management L.P. Buys Shares of 2,103,095 Clean Energy Fuels Corp. $CLNE

Key Points

• SIR Capital Management initiated a stake of 2,103,095 Clean Energy Fuels shares in the second quarter, valued at approximately $4.31 million and representing about 0.95% of the company.
• Clean Energy Fuels reported quarterly revenue of $106.36 million, up 3.7% year over year, while meeting the consensus loss estimate of $0.01 per share. The company remains unprofitable, with a negative net margin of 21.27%.
• CLNE shares opened at $1.59, near their 52-week low of $1.54. Analysts have a mixed outlook, resulting in a consensus “Hold” rating and an average price target of $2.38.

SIR Capital Management L.P. bought a new stake in Clean Energy Fuels Corp. (NASDAQ:CLNE - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 2,103,095 shares of the utilities provider's stock, valued at approximately $4,311,000. SIR Capital Management L.P. owned approximately 0.95% of Clean Energy Fuels at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in CLNE. NewEdge Advisors LLC increased its stake in Clean Energy Fuels by 1,419,900.0% in the second quarter. NewEdge Advisors LLC now owns 14,200 shares of the utilities provider's stock valued at $28,000 after acquiring an additional 14,199 shares during the last quarter. BNP Paribas Financial Markets raised its position in Clean Energy Fuels by 54.8% during the second quarter. BNP Paribas Financial Markets now owns 14,844 shares of the utilities provider's stock valued at $29,000 after purchasing an additional 5,254 shares in the last quarter. Legal & General Group Plc acquired a new position in Clean Energy Fuels during the second quarter valued at approximately $30,000. R Squared Ltd bought a new stake in Clean Energy Fuels during the first quarter worth $31,000. Finally, Mercer Global Advisors Inc. ADV bought a new stake in Clean Energy Fuels during the fourth quarter worth $31,000. Institutional investors own 49.94% of the company's stock.

Clean Energy Fuels Stock Performance

Clean Energy Fuels stock opened at $1.59 on Tuesday. The business has a 50 day moving average of $1.93 and a 200-day moving average of $2.15. Clean Energy Fuels Corp. has a 1 year low of $1.54 and a 1 year high of $3.11. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.48 and a quick ratio of 2.15. The company has a market capitalization of $350.17 million, a P/E ratio of -3.61 and a beta of 1.85.

Clean Energy Fuels (NASDAQ:CLNE - Get Free Report) last posted its earnings results on Thursday, August 6th. The utilities provider reported ($0.01) EPS for the quarter, hitting the consensus estimate of ($0.01). Clean Energy Fuels had a negative net margin of 21.27% and a negative return on equity of 16.52%. The business had revenue of $106.36 million for the quarter, compared to the consensus estimate of $111.27 million. The firm's quarterly revenue was up 3.7% on a year-over-year basis. On average, equities research analysts predict that Clean Energy Fuels Corp. will post -0.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Raymond James Financial reiterated a "strong-buy" rating and issued a $2.50 price target on shares of Clean Energy Fuels in a research note on Tuesday, August 18th. Jefferies Financial Group restated a "hold" rating and set a $1.90 price objective on shares of Clean Energy Fuels in a research report on Friday, August 14th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Clean Energy Fuels in a research note on Friday, July 17th. Finally, UBS Group cut Clean Energy Fuels from a "buy" rating to a "hold" rating and set a $2.75 target price on the stock. in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $2.38.

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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