Voya Investment Management LLC Has $1.97 Million Stock Holdings in Clean Energy Fuels Corp. $CLNE

Key Points

• Voya Investment Management LLC increased its holdings in Clean Energy Fuels Corp. by 36.9%, acquiring an additional 342,982 shares, bringing their total ownership to approximately 1.27 million shares valued at about $1.97 million.
• Multiple institutional investors purchased stakes in the company recently, with interests including Teacher Retirement System of Texas and Aigen Investment Management, demonstrating growing institutional confidence.
• Clean Energy Fuels reported a 4.8% increase in quarterly revenue compared to the previous year, with earnings surpassing analyst expectations, although it still faces negative metrics with a net margin of -48.40%.

Voya Investment Management LLC increased its stake in shares of Clean Energy Fuels Corp. (NASDAQ:CLNE - Free Report) by 36.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,272,888 shares of the utilities provider's stock after purchasing an additional 342,982 shares during the period. Voya Investment Management LLC owned approximately 0.58% of Clean Energy Fuels worth $1,973,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the company. GTS Securities LLC boosted its position in shares of Clean Energy Fuels by 16.8% during the fourth quarter. GTS Securities LLC now owns 27,446 shares of the utilities provider's stock worth $69,000 after acquiring an additional 3,955 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Clean Energy Fuels by 4.5% during 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 purchasing an additional 4,215 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Clean Energy Fuels by 14.0% in the 4th quarter. Wellington Management Group LLP now owns 102,670 shares of the utilities provider's stock valued at $258,000 after buying an additional 12,628 shares in the last quarter. Golden State Wealth Management LLC boosted its stake in Clean Energy Fuels by 60.0% in the 1st quarter. Golden State Wealth Management LLC now owns 40,000 shares of the utilities provider's stock worth $62,000 after purchasing an additional 15,000 shares in the last quarter. Finally, Grassi Investment Management raised its position in Clean Energy Fuels by 63.8% during the 1st quarter. Grassi Investment Management now owns 38,500 shares of the utilities provider's stock worth $60,000 after buying an additional 15,000 shares during the last quarter. 49.94% of the stock is currently owned by institutional investors.

Insider Activity

In related news, SVP Barclay Corbus sold 105,300 shares of the company's stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $2.63, for a total transaction of $276,939.00. Following the sale, the senior vice president directly owned 1,061,248 shares of the company's stock, valued at approximately $2,791,082.24. This represents a 9.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.30% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on CLNE shares. Jefferies Financial Group cut shares of Clean Energy Fuels from a "buy" rating to a "hold" rating and set a $2.20 target price on the stock. in a research note on Friday, August 8th. UBS Group reaffirmed a "buy" rating and issued a $2.75 target price (up previously from $2.00) on shares of Clean Energy Fuels in a report on Tuesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $3.59.

Clean Energy Fuels Stock Performance

Shares of NASDAQ:CLNE remained flat at $2.65 during midday trading on Monday. The stock had a trading volume of 887,937 shares, compared to its average volume of 1,274,226. The firm has a fifty day simple moving average of $2.34 and a 200 day simple moving average of $1.96. Clean Energy Fuels Corp. has a fifty-two week low of $1.30 and a fifty-two week high of $3.67. The company has a market capitalization of $581.12 million, a PE ratio of -2.94 and a beta of 2.69. The company has a current ratio of 2.83, a quick ratio of 2.51 and a debt-to-equity ratio of 0.47.

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 the consensus estimate 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 net margin of 48.40% and a negative return on equity of 27.98%. The firm's revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.01 EPS. On average, equities research analysts expect that Clean Energy Fuels Corp. will post -0.33 earnings per share for the current 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.