Clean Energy Fuels (NASDAQ:CLNE) Stock Price Up 8% – Still a Buy?

Clean Energy Fuels Corp. (NASDAQ:CLNE) rose 8% on Friday . The stock traded as high as $2.85 and last traded at $2.84. Approximately 956,435 shares were traded during trading, a decline of 54% from the average daily volume of 2,091,877 shares. The stock had previously closed at $2.63.

Analyst Ratings Changes

Separately, StockNews.com raised Clean Energy Fuels from a “sell” rating to a “hold” rating in a research note on Tuesday, December 24th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Clean Energy Fuels currently has a consensus rating of “Buy” and an average target price of $5.38.

Clean Energy Fuels Stock Up 9.9 %

The company has a market capitalization of $645.79 million, a PE ratio of -9.32 and a beta of 2.14. The business has a 50-day moving average of $2.80 and a 200 day moving average of $2.82. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.06 and a quick ratio of 2.74.

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

Hedge Funds Weigh In On Clean Energy Fuels

Several hedge funds have recently bought and sold shares of CLNE. Global Alpha Capital Management Ltd. increased its position in shares of Clean Energy Fuels by 1.5% during the third quarter. Global Alpha Capital Management Ltd. now owns 7,145,976 shares of the utilities provider’s stock worth $22,224,000 after acquiring an additional 102,400 shares during the period. State Street Corp raised its position in Clean Energy Fuels by 0.5% during the 3rd quarter. State Street Corp now owns 5,923,358 shares of the utilities provider’s stock valued at $18,422,000 after purchasing an additional 31,602 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Clean Energy Fuels by 3.1% in the 3rd quarter. Geode Capital Management LLC now owns 4,203,217 shares of the utilities provider’s stock worth $13,075,000 after buying an additional 126,760 shares during the period. SIR Capital Management L.P. raised its holdings in shares of Clean Energy Fuels by 9.8% in 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 acquiring an additional 246,600 shares in the last quarter. Finally, Yaupon Capital Management LP increased its holdings in Clean Energy Fuels by 4.9% during the third quarter. Yaupon Capital Management LP now owns 2,573,358 shares of the utilities provider’s stock valued at $8,003,000 after buying an additional 120,987 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.