Clean Energy Fuels (NASDAQ:CLNE) Reaches New 1-Year High – Here’s What Happened

Clean Energy Fuels Corp. (NASDAQ:CLNE) shares hit a new 52-week high on Thursday . The stock traded as high as $3.40 and last traded at $3.37, with a volume of 1149136 shares trading hands. The stock had previously closed at $3.26.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Clean Energy Fuels from a “hold” rating to a “sell” rating in a research report on Monday, January 27th.

Clean Energy Fuels Price Performance

The stock has a 50 day moving average of $2.85 and a two-hundred day moving average of $2.89. 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 market capitalization of $739.65 million, a P/E ratio of -10.68 and a beta of 2.16.

Clean Energy Fuels (NASDAQ:CLNE) last released its quarterly earnings results on Wednesday, November 6th. The utilities provider reported $0.02 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 analyst estimates 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 company’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.12) earnings per share. Sell-side analysts predict that Clean Energy Fuels Corp. will post -0.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Clean Energy Fuels

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Sei Investments Co. bought a new position in Clean Energy Fuels during the second quarter worth $74,000. AQR Capital Management LLC raised its position in shares of Clean Energy Fuels by 49.1% during the second quarter. AQR Capital Management LLC now owns 234,235 shares of the utilities provider’s stock valued at $625,000 after buying an additional 77,170 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Clean Energy Fuels by 10.5% in the second quarter. The Manufacturers Life Insurance Company now owns 69,853 shares of the utilities provider’s stock valued at $187,000 after buying an additional 6,637 shares during the period. Algert Global LLC acquired a new stake in Clean Energy Fuels during the second quarter worth about $45,000. Finally, Clearbridge Investments LLC increased its stake in Clean Energy Fuels by 6.8% during the second quarter. Clearbridge Investments LLC now owns 462,022 shares of the utilities provider’s stock valued at $1,234,000 after acquiring an additional 29,400 shares during the period. 49.94% of the stock is owned by institutional investors and hedge funds.

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.