Clean Energy Fuels (NASDAQ:CLNE) Share Price Crosses Above 50 Day Moving Average - Here's What Happened

Key Points

• Clean Energy Fuels shares rose above their 50-day moving average of $1.56, reaching $1.98 intraday and last trading at $1.91.
• Quarterly adjusted earnings were $0.03 per share, beating estimates for a loss, while revenue of $112.2 million topped forecasts. The GAAP net loss narrowed to $5.7 million from $23.8 million a year earlier, but the company remains unprofitable on a GAAP basis.
• Analysts’ consensus rating is Hold, with an average price target of $2.38; recent recommendations range from Sell to Strong Buy.

Shares of Clean Energy Fuels Corp. (NASDAQ:CLNE - Get Free Report) crossed above its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $1.56 and traded as high as $1.98. Clean Energy Fuels shares last traded at $1.91, with a volume of 7,298,265 shares.

Trending Headlines about Clean Energy Fuels

Here are the key news stories impacting Clean Energy Fuels this week:

• Positive Sentiment: CLNE reported $0.03 per share in adjusted earnings, ahead of estimates calling for a loss, and revenue of $112.2 million, above consensus of about $105.4 million. Revenue rose from $106.1 million a year earlier. Zacks earnings coverage
• Positive Sentiment: The company sold 66.8 million gallons of renewable natural gas (RNG) in the quarter. Its GAAP net loss narrowed to $5.7 million, or $0.03 per share, from $23.8 million, or $0.11 per share, a year earlier—evidence of improved results, although not yet GAAP profitability. Company earnings release
• Negative Sentiment: Despite the improvement, CLNE still posted a GAAP loss. The persistence of losses may temper investor enthusiasm if the company does not continue to improve profitability. Q3 results coverage

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CLNE. UBS Group downgraded shares of Clean Energy Fuels from a "buy" rating to a "hold" rating and set a $2.75 price target for the company. in a research note on Friday, July 17th. Weiss Ratings raised Clean Energy Fuels from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday, October 28th. Raymond James Financial reiterated a "strong-buy" rating and issued a $2.50 price objective on shares of Clean Energy Fuels in a research note on Tuesday, August 18th. Finally, Jefferies Financial Group upgraded Clean Energy Fuels to a "hold" rating in a report on Tuesday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Clean Energy Fuels presently has a consensus rating of "Hold" and an average target price of $2.38.

Clean Energy Fuels Trading Up 26.5%

The company has a 50 day moving average price of $1.56 and a 200 day moving average price of $2.00. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.15 and a current ratio of 2.48. The firm has a market cap of $420.64 million, a price-to-earnings ratio of -5.31 and a beta of 1.87.

Clean Energy Fuels (NASDAQ:CLNE - Get Free Report) last announced its quarterly earnings data on Thursday, November 5th. The utilities provider reported $0.03 EPS for the quarter, beating analysts' consensus estimates of ($0.02) by $0.05. 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 $112.18 million during the quarter, compared to analyst estimates of $105.38 million. On average, research analysts expect that Clean Energy Fuels Corp. will post -0.30 earnings per share for the current year.

Institutional Trading of Clean Energy Fuels

Large investors have recently added to or reduced their stakes in the stock. StoneX Group Inc. purchased a new position in shares of Clean Energy Fuels during the 3rd quarter worth about $49,000. State Street Corp lifted its stake in Clean Energy Fuels by 9.1% in the 2nd quarter. State Street Corp now owns 6,374,675 shares of the utilities provider's stock valued at $13,068,000 after acquiring an additional 533,331 shares in the last quarter. WINTON GROUP Ltd grew its stake in Clean Energy Fuels by 221.7% during the second quarter. WINTON GROUP Ltd now owns 54,048 shares of the utilities provider's stock worth $111,000 after purchasing an additional 37,248 shares during the period. Squarepoint Ops LLC grew its holdings in shares of Clean Energy Fuels by 261.1% during the 2nd quarter. Squarepoint Ops LLC now owns 157,474 shares of the utilities provider's stock valued at $323,000 after purchasing an additional 113,867 shares during the last quarter. Finally, Amundi grew its stake in shares of Clean Energy Fuels by 17.7% during the 2nd quarter. Amundi now owns 112,674 shares of the utilities provider's stock valued at $231,000 after acquiring an additional 16,951 shares during the period. Hedge funds and other institutional investors own 49.94% of the company's stock.

Clean Energy Fuels Company Profile

Clean Energy Fuels Corp. NASDAQ: CLNE provides fueling solutions for medium- and heavy-duty vehicle fleets in North America. The company develops, owns and operates natural gas fueling stations and supplies transportation fuel to customers such as refuse and recycling companies, transit agencies, trucking operators, airports and other commercial fleets.

Its offerings include compressed natural gas (CNG), liquefied natural gas (LNG) and renewable natural gas (RNG). Clean Energy also provides station construction, operation and maintenance services, fleet fueling support, and related infrastructure solutions.

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