Clean Energy Fuels (NASDAQ:CLNE) SVP Barclay Corbus Sells 105,300 Shares

Key Points

• Clean Energy Fuels SVP Barclay Corbus sold 105,300 shares at an average price of $2.63, resulting in a total transaction of $276,939, which decreased his ownership by 9.03%.
• The company reported a negative net margin of 48.40% and achieved revenue of $102.61 million for the last quarter, exceeding analyst expectations.
• Research analysts have mixed views on the stock, with forecasts including a price target of $2.75 by UBS Group and an average rating of "Buy" from several analysts.

Clean Energy Fuels Corp. (NASDAQ:CLNE - Get Free Report) SVP Barclay Corbus sold 105,300 shares of the firm's stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $2.63, for a total value of $276,939.00. Following the completion of the sale, the senior vice president directly owned 1,061,248 shares in the company, valued at approximately $2,791,082.24. The trade was a 9.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Clean Energy Fuels Price Performance

Shares of NASDAQ:CLNE traded down $0.04 during midday trading on Friday, reaching $2.65. 3,007,167 shares of the company's stock traded hands, compared to its average volume of 1,217,040. The company has a fifty day simple moving average of $2.33 and a two-hundred day simple moving average of $1.95. Clean Energy Fuels Corp. has a 1 year low of $1.30 and a 1 year high of $3.67. The company has a market cap of $581.12 million, a P/E ratio of -2.94 and a beta of 2.70. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.51 and a current ratio of 2.83.

Clean Energy Fuels (NASDAQ:CLNE - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The utilities provider reported ($0.01) earnings per share for the quarter, topping analysts' consensus estimates of ($0.07) by $0.06. Clean Energy Fuels had a negative net margin of 48.40% and a negative return on equity of 27.98%. The company had revenue of $102.61 million during the quarter, compared to analysts' expectations of $94.73 million. During the same period in the prior year, the business posted $0.01 earnings per share. The firm's revenue for the quarter was up 4.8% on a year-over-year basis. Equities analysts predict that Clean Energy Fuels Corp. will post -0.33 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Institutional Trading of Clean Energy Fuels

Several institutional investors have recently made changes to their positions in CLNE. NewEdge Advisors LLC lifted its stake in shares of Clean Energy Fuels by 1,419,900.0% in the 2nd quarter. NewEdge Advisors LLC now owns 14,200 shares of the utilities provider's stock valued at $28,000 after purchasing an additional 14,199 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Clean Energy Fuels by 140.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 14,971 shares of the utilities provider's stock valued at $29,000 after buying an additional 8,738 shares during the period. BNP Paribas Financial Markets raised its stake in shares of Clean Energy Fuels by 54.8% in the second quarter. BNP Paribas Financial Markets now owns 14,844 shares of the utilities provider's stock valued at $29,000 after acquiring an additional 5,254 shares in the last quarter. Aigen Investment Management LP acquired a new position in Clean Energy Fuels during the 1st quarter worth $36,000. Finally, Catalyst Funds Management Pty Ltd purchased a new stake in Clean Energy Fuels during the 2nd quarter worth about $37,000. Hedge funds and other institutional investors own 49.94% of the company's stock.

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.