Global Alpha Capital Management Ltd. Increases Stake in Clean Energy Fuels Corp. (NASDAQ:CLNE)

Global Alpha Capital Management Ltd. raised its holdings in shares of Clean Energy Fuels Corp. (NASDAQ:CLNE) by 1.5% in the third quarter, Holdings Channel reports. The institutional investor owned 7,145,976 shares of the utilities provider’s stock after acquiring an additional 102,400 shares during the period. Clean Energy Fuels comprises about 1.4% of Global Alpha Capital Management Ltd.’s portfolio, making the stock its 28th biggest holding. Global Alpha Capital Management Ltd.’s holdings in Clean Energy Fuels were worth $22,224,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Eastern Bank purchased a new stake in Clean Energy Fuels during the third quarter valued at approximately $31,000. Tidal Investments LLC purchased a new stake in shares of Clean Energy Fuels in the first quarter worth $33,000. DRW Securities LLC purchased a new stake in shares of Clean Energy Fuels in the second quarter worth $38,000. Algert Global LLC purchased a new stake in shares of Clean Energy Fuels in the second quarter worth $45,000. Finally, MQS Management LLC purchased a new stake in shares of Clean Energy Fuels in the third quarter worth $72,000. 49.94% of the stock is owned by hedge funds and other institutional investors.

Clean Energy Fuels Price Performance

Shares of NASDAQ:CLNE opened at $2.64 on Wednesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.74 and a current ratio of 3.06. The firm has a fifty day moving average price of $2.95 and a 200 day moving average price of $2.81. Clean Energy Fuels Corp. has a fifty-two week low of $2.17 and a fifty-two week high of $4.13. The firm has a market cap of $589.93 million, a price-to-earnings ratio of -8.52 and a beta of 2.12.

Clean Energy Fuels (NASDAQ:CLNE) last issued its 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. Clean Energy Fuels had a negative net margin of 17.32% and a negative return on equity of 7.59%. The firm had revenue of $104.90 million during the quarter, compared to analyst estimates of $100.64 million. During the same quarter in the prior year, the business earned ($0.12) earnings per share. Clean Energy Fuels’s revenue for the quarter was up 9.7% on a year-over-year basis. As a group, sell-side analysts expect that Clean Energy Fuels Corp. will post -0.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CLNE. Scotiabank increased their price objective on shares of 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. StockNews.com raised shares of Clean Energy Fuels from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. 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 company’s stock. According to data from MarketBeat, Clean Energy Fuels has an average rating of “Buy” and a consensus price target of $5.38.

Clean Energy Fuels Company Profile

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.