Clean Energy Fuels (NASDAQ:CLNE) Shares Gap Up to $9.90

Clean Energy Fuels Corp. (NASDAQ:CLNE) shares gapped up prior to trading on Wednesday . The stock had previously closed at $9.90, but opened at $13.00. Clean Energy Fuels shares last traded at $12.95, with a volume of 491,561 shares.

A number of research analysts recently weighed in on the company. Zacks Investment Research upgraded Clean Energy Fuels from a “sell” rating to a “hold” rating in a report on Monday. Lake Street Capital boosted their target price on Clean Energy Fuels from $9.00 to $27.00 and gave the stock a “buy” rating in a report on Thursday, February 11th. Cowen assumed coverage on shares of Clean Energy Fuels in a report on Friday, March 26th. They issued a “market perform” rating and a $14.00 price target on the stock. TheStreet downgraded shares of Clean Energy Fuels from a “c-” rating to a “d” rating in a research note on Friday, May 7th. Finally, Needham & Company LLC started coverage on shares of Clean Energy Fuels in a research note on Monday, May 10th. They issued a “buy” rating and a $12.00 target price on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $16.40.

The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.91 and a current ratio of 3.23. The stock has a fifty day moving average of $10.10. The company has a market cap of $2.20 billion, a PE ratio of -122.11 and a beta of 1.85.

Clean Energy Fuels (NASDAQ:CLNE) last posted its earnings results on Thursday, May 6th. The utilities provider reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.02). Clean Energy Fuels had a negative return on equity of 2.79% and a negative net margin of 6.62%. The firm had revenue of $77.10 million for the quarter, compared to analyst estimates of $75.26 million. During the same period in the previous year, the firm posted ($0.01) earnings per share. The company’s revenue for the quarter was down 10.3% on a year-over-year basis. On average, equities analysts predict that Clean Energy Fuels Corp. will post -0.17 EPS for the current fiscal year.

In other news, major shareholder Marketing Services S.A. Total sold 250,000 shares of the stock in a transaction that occurred on Wednesday, April 28th. The stock was sold at an average price of $11.55, for a total transaction of $2,887,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Marketing Services S.A.S Total sold 32,239 shares of the firm’s stock in a transaction that occurred on Friday, May 28th. The stock was sold at an average price of $8.03, for a total transaction of $258,879.17. The disclosure for this sale can be found here. Insiders have sold 2,607,451 shares of company stock valued at $24,223,866 over the last 90 days. Insiders own 3.40% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Focused Wealth Management Inc raised its stake in shares of Clean Energy Fuels by 78.2% in the 1st quarter. Focused Wealth Management Inc now owns 2,524 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 1,108 shares in the last quarter. Captrust Financial Advisors increased its holdings in Clean Energy Fuels by 10,044.0% in the first quarter. Captrust Financial Advisors now owns 2,536 shares of the utilities provider’s stock valued at $35,000 after buying an additional 2,511 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in Clean Energy Fuels by 40.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 3,830 shares of the utilities provider’s stock valued at $30,000 after buying an additional 1,100 shares in the last quarter. IFP Advisors Inc lifted its holdings in Clean Energy Fuels by 119.8% during the 1st quarter. IFP Advisors Inc now owns 4,395 shares of the utilities provider’s stock worth $60,000 after buying an additional 2,395 shares during the last quarter. Finally, Riggs Asset Managment Co. Inc. grew its position in shares of Clean Energy Fuels by 26.9% in the 1st quarter. Riggs Asset Managment Co. Inc. now owns 4,442 shares of the utilities provider’s stock worth $61,000 after acquiring an additional 942 shares in the last quarter. 38.90% of the stock is owned by institutional investors.

About Clean Energy Fuels (NASDAQ:CLNE)

Clean Energy Fuels Corp. provides natural gas as an alternative fuel for vehicle fleets and related fueling solutions, primarily in the United States and Canada. It supplies renewable natural gas (RNG), compressed natural gas (CNG), and liquefied natural gas (LNG) for light, medium, and heavy-duty vehicles; and offers operation and maintenance services for public and private vehicle fleet customer stations.

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