Key Points
- Director Andrew Littlefair sold 165,000 shares of Clean Energy Fuels at an average price of $2.05, totaling $338,250. After the sale, he still held nearly 1.9 million shares, though his position was reduced by 7.93%.
- Clean Energy Fuels beat quarterly expectations with EPS of -$0.01 versus the -$0.02 forecast and revenue of $117.56 million, above the expected $102.62 million. Revenue rose 13.3% year over year, even though profitability remained negative.
- Wall Street sentiment remains mixed, with the stock carrying an average “Hold” rating and a consensus target price of $2.48. Institutional ownership is substantial, with hedge funds and other investors holding about 49.94% of the company.
Clean Energy Fuels Corp. (NASDAQ:CLNE - Get Free Report) Director Andrew Littlefair sold 165,000 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $2.05, for a total transaction of $338,250.00. Following the completion of the transaction, the director owned 1,914,993 shares in the company, valued at approximately $3,925,735.65. This trade represents a 7.93% decrease in their position. 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 opened at $2.01 on Wednesday. The stock has a market capitalization of $441.56 million, a price-to-earnings ratio of -4.36 and a beta of 1.93. Clean Energy Fuels Corp. has a 12 month low of $1.69 and a 12 month high of $3.11. The firm's 50 day simple moving average is $2.27 and its 200-day simple moving average is $2.30. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.46 and a quick ratio of 2.14.
Clean Energy Fuels (NASDAQ:CLNE - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The utilities provider reported ($0.01) EPS for the quarter, topping analysts' consensus estimates of ($0.02) by $0.01. The business had revenue of $117.56 million for the quarter, compared to analysts' expectations of $102.62 million. Clean Energy Fuels had a negative net margin of 22.68% and a negative return on equity of 14.04%. The business's revenue was up 13.3% on a year-over-year basis. During the same quarter last year, the company earned $0.01 EPS. Analysts expect that Clean Energy Fuels Corp. will post -0.32 EPS for the current year.
Institutional Investors Weigh In On Clean Energy Fuels
Hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. grew its stake in shares of Clean Energy Fuels by 765.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,457,876 shares of the utilities provider's stock worth $6,341,000 after purchasing an additional 2,173,771 shares during the period. Grantham Mayo Van Otterloo & Co. LLC lifted its position in shares of Clean Energy Fuels by 2.0% during the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 11,851,464 shares of the utilities provider's stock valued at $30,577,000 after buying an additional 237,816 shares in the last quarter. Consolidated Portfolio Review Corp purchased a new position in shares of Clean Energy Fuels during the 3rd quarter valued at approximately $103,000. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Clean Energy Fuels during the 3rd quarter valued at approximately $31,000. Finally, Connors Investor Services Inc. lifted its position in shares of Clean Energy Fuels by 7.7% during the 4th quarter. Connors Investor Services Inc. now owns 70,000 shares of the utilities provider's stock valued at $147,000 after buying an additional 5,000 shares in the last quarter. Institutional investors and hedge funds own 49.94% of the company's stock.
Wall Street Analyst Weigh In
Separately, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Clean Energy Fuels in a research note on Monday, April 20th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $2.48.
View Our Latest Research Report on CLNE
About Clean Energy Fuels
(
Get Free Report)
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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