Clean Energy Fuels (NASDAQ:CLNE) Trading 6.3% Higher – Still a Buy?

Clean Energy Fuels Corp. (NASDAQ:CLNE) shares traded up 6.3% during mid-day trading on Wednesday . The company traded as high as $3.02 and last traded at $3.02. 302,594 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 1,604,365 shares. The stock had previously closed at $2.84.

Analyst Ratings Changes

A number of analysts have issued reports on the company. StockNews.com raised Clean Energy Fuels from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Scotiabank raised their target price on Clean Energy Fuels from $5.00 to $6.00 and gave the company a “sector outperform” rating in a report on Tuesday, September 3rd. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Clean Energy Fuels has an average rating of “Buy” and a consensus target price of $5.38.

Clean Energy Fuels Price Performance

The company has a 50-day moving average of $2.93 and a 200 day moving average of $2.83. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.74 and a current ratio of 3.06. The firm has a market cap of $715.06 million, a P/E ratio of -10.00 and a beta of 2.12.

Clean Energy Fuels (NASDAQ:CLNE) last released its earnings results on Wednesday, November 6th. The utilities provider reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.04. Clean Energy Fuels had a negative return on equity of 7.59% and a negative net margin of 17.32%. The company had revenue of $104.90 million during the quarter, compared to the consensus estimate of $100.64 million. During the same quarter in the previous year, the company posted ($0.12) earnings per share. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. On average, sell-side analysts anticipate that Clean Energy Fuels Corp. will post -0.33 EPS for the current year.

Institutional Trading of Clean Energy Fuels

Several institutional investors and hedge funds have recently bought and sold shares of the business. Tidal Investments LLC acquired a new stake in Clean Energy Fuels during the first quarter worth approximately $33,000. Vanguard Group Inc. boosted its position in shares of Clean Energy Fuels by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 10,101,301 shares of the utilities provider’s stock valued at $27,071,000 after purchasing an additional 100,271 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Clean Energy Fuels by 33.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 105,763 shares of the utilities provider’s stock valued at $284,000 after acquiring an additional 26,356 shares in the last quarter. SIR Capital Management L.P. raised its holdings in shares of Clean Energy Fuels by 9.8% during the second quarter. SIR Capital Management L.P. now owns 2,764,529 shares of the utilities provider’s stock valued at $7,381,000 after purchasing an additional 246,600 shares during the period. Finally, CANADA LIFE ASSURANCE Co raised its position in shares of Clean Energy Fuels by 30.6% during the first quarter. CANADA LIFE ASSURANCE Co now owns 44,569 shares of the utilities provider’s stock worth $119,000 after purchasing an additional 10,437 shares during the period. Institutional investors own 49.94% of the company’s stock.

About Clean Energy Fuels

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.