Short Interest in Clean Energy Fuels Corp. (NASDAQ:CLNE) Decreases By 17.5%

Key Points

• Short interest fell 17.5% to 5,988,579 shares as of Dec. 31, representing about 2.9% of the float and a days-to-cover ratio of 5.2 days, indicating reduced bearish positioning.
• Analysts have a consensus rating of “Moderate Buy” with a consensus price target of $3.59, while shares trade around $2.22 and the company has a market cap of about $487M and a negative PE.
• Institutional investors own roughly 49.94% of the stock, and several funds reported small recent increases or new positions in Clean Energy Fuels.

Clean Energy Fuels Corp. (NASDAQ:CLNE - Get Free Report) saw a large decline in short interest in the month of December. As of December 31st, there was short interest totaling 5,988,579 shares, a decline of 17.5% from the December 15th total of 7,255,687 shares. Approximately 2.9% of the shares of the company are sold short. Based on an average trading volume of 1,159,097 shares, the days-to-cover ratio is currently 5.2 days. Based on an average trading volume of 1,159,097 shares, the days-to-cover ratio is currently 5.2 days. Approximately 2.9% of the shares of the company are sold short.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Clean Energy Fuels in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $3.59.

Institutional Investors Weigh In On Clean Energy Fuels

A number of institutional investors and hedge funds have recently modified their holdings of the business. NewEdge Advisors LLC grew its stake in 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 worth $28,000 after acquiring an additional 14,199 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Clean Energy Fuels by 140.2% in the second quarter. PNC Financial Services Group Inc. now owns 14,971 shares of the utilities provider's stock valued at $29,000 after purchasing an additional 8,738 shares during the period. BNP Paribas Financial Markets grew its stake in 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 worth $29,000 after purchasing an additional 5,254 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in Clean Energy Fuels during the 3rd quarter worth $31,000. Finally, Catalyst Funds Management Pty Ltd bought a new stake in Clean Energy Fuels during the 2nd quarter valued at $37,000. 49.94% of the stock is owned by institutional investors.

Clean Energy Fuels Trading Up 0.9%

CLNE stock opened at $2.22 on Monday. The firm has a fifty day moving average price of $2.21 and a 200 day moving average price of $2.38. Clean Energy Fuels has a fifty-two week low of $1.30 and a fifty-two week high of $3.67. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.39 and a current ratio of 2.69. The firm has a market cap of $486.85 million, a PE ratio of -2.39 and a beta of 2.13.

About Clean Energy Fuels

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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