Clean Energy Fuels (NASDAQ:CLNE) Reaches New 52-Week High – Should You Buy?

Clean Energy Fuels Corp. (NASDAQ:CLNE) shares reached a new 52-week high on Wednesday . The stock traded as high as $3.49 and last traded at $3.45, with a volume of 3887304 shares traded. The stock had previously closed at $3.10.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Clean Energy Fuels from a “sell” rating to a “hold” rating in a research note on Tuesday.

Clean Energy Fuels Price Performance

The firm has a market cap of $770.94 million, a price-to-earnings ratio of -11.13 and a beta of 2.18. The stock’s 50-day moving average price is $2.85 and its 200 day moving average price is $2.89. The company has a quick ratio of 2.74, a current ratio of 3.06 and a debt-to-equity ratio of 0.36.

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

Institutional Investors Weigh In On Clean Energy Fuels

A number of institutional investors have recently bought and sold shares of CLNE. Bank of New York Mellon Corp lifted its stake in Clean Energy Fuels by 1.1% during the fourth quarter. Bank of New York Mellon Corp now owns 516,302 shares of the utilities provider’s stock worth $1,296,000 after purchasing an additional 5,485 shares during the period. Rhumbline Advisers lifted its position in shares of Clean Energy Fuels by 3.2% during the 4th quarter. Rhumbline Advisers now owns 279,006 shares of the utilities provider’s stock worth $700,000 after buying an additional 8,731 shares during the period. Golden State Wealth Management LLC acquired a new stake in Clean Energy Fuels in the 4th quarter valued at $63,000. IMC Chicago LLC grew its position in Clean Energy Fuels by 7.4% in the fourth quarter. IMC Chicago LLC now owns 131,122 shares of the utilities provider’s stock valued at $329,000 after acquiring an additional 9,021 shares during the period. Finally, Inspire Investing LLC raised its stake in Clean Energy Fuels by 20.0% during the fourth quarter. Inspire Investing LLC now owns 158,531 shares of the utilities provider’s stock worth $398,000 after acquiring an additional 26,428 shares in the last quarter. Institutional investors and hedge funds own 49.94% of the company’s stock.

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.