Clean Energy Fuels Corp. (NASDAQ:CLNE) Shares Purchased by HITE Hedge Asset Management LLC

HITE Hedge Asset Management LLC boosted its stake in shares of Clean Energy Fuels Corp. (NASDAQ:CLNE) by 26.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 603,533 shares of the utilities provider’s stock after buying an additional 127,712 shares during the period. HITE Hedge Asset Management LLC’s holdings in Clean Energy Fuels were worth $1,877,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Eastern Bank purchased a new stake in shares of Clean Energy Fuels in the third quarter valued at $31,000. Tidal Investments LLC purchased a new stake in shares of Clean Energy Fuels during the first quarter worth $33,000. DRW Securities LLC bought a new position in shares of Clean Energy Fuels in the second quarter worth about $38,000. Algert Global LLC acquired a new stake in Clean Energy Fuels during the second quarter valued at approximately $45,000. Finally, Point72 Asia Singapore Pte. Ltd. boosted its holdings in shares of Clean Energy Fuels by 235.2% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 18,427 shares of the utilities provider’s stock worth $57,000 after acquiring an additional 12,929 shares in the last quarter. Institutional investors and hedge funds own 49.94% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Clean Energy Fuels Trading Down 1.9 %

CLNE stock opened at $3.02 on Tuesday. The company has a current ratio of 3.06, a quick ratio of 2.74 and a debt-to-equity ratio of 0.36. The business has a 50-day simple moving average of $2.93 and a two-hundred day simple moving average of $2.84. Clean Energy Fuels Corp. has a 52-week low of $2.17 and a 52-week high of $4.13.

Clean Energy Fuels (NASDAQ:CLNE) last released its quarterly 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. The business had revenue of $104.90 million during 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%. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the company earned ($0.12) earnings per share. Equities analysts forecast that Clean Energy Fuels Corp. will post -0.33 EPS for the current year.

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.