MQS Management LLC Invests $72,000 in Clean Energy Fuels Corp. (NASDAQ:CLNE)

MQS Management LLC purchased a new position in Clean Energy Fuels Corp. (NASDAQ:CLNE) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 23,139 shares of the utilities provider’s stock, valued at approximately $72,000.

Several other institutional investors have also recently added to or reduced their stakes in CLNE. Eastern Bank acquired a new position in Clean Energy Fuels in the third quarter valued at $31,000. Tidal Investments LLC acquired a new position in Clean Energy Fuels in the first quarter valued at $33,000. DRW Securities LLC acquired a new position in Clean Energy Fuels in the second quarter valued at $38,000. Algert Global LLC acquired a new position in Clean Energy Fuels in the second quarter valued at $45,000. Finally, Pinnacle Wealth Planning Services Inc. acquired a new position in Clean Energy Fuels in the first quarter valued at $52,000. 49.94% of the stock is currently owned by institutional investors and hedge funds.

Clean Energy Fuels Stock Performance

Shares of NASDAQ:CLNE opened at $2.65 on Friday. The firm has a market capitalization of $592.17 million, a PE ratio of -8.55 and a beta of 2.12. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.06 and a quick ratio of 2.59. The business has a 50-day moving average of $2.95 and a two-hundred day moving average of $2.80. Clean Energy Fuels Corp. has a 12 month low of $2.17 and a 12 month high of $4.13.

Clean Energy Fuels (NASDAQ:CLNE) last announced its quarterly earnings results on Wednesday, November 6th. The utilities provider reported $0.02 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $100.64 million. During the same period in the prior year, the firm posted ($0.12) earnings per share. The firm’s revenue was up 9.7% on a year-over-year basis. As a group, research analysts forecast that Clean Energy Fuels Corp. will post -0.33 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. StockNews.com upgraded Clean Energy Fuels from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Scotiabank upped their price target on Clean Energy Fuels from $5.00 to $6.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, September 3rd. One investment 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $5.38.

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.