SIR Capital Management L.P. Grows Position in Clean Energy Fuels Corp. $CLNE

SIR Capital Management L.P. raised its holdings in Clean Energy Fuels Corp. (NASDAQ:CLNE) by 17.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,103,095 shares of the utilities provider’s stock after acquiring an additional 308,300 shares during the period. SIR Capital Management L.P. owned approximately 0.96% of Clean Energy Fuels worth $4,416,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Clean Energy Fuels in the 4th quarter valued at about $383,000. Wells Fargo & Company MN raised its holdings in shares of Clean Energy Fuels by 34.5% in the 4th quarter. Wells Fargo & Company MN now owns 205,178 shares of the utilities provider’s stock valued at $431,000 after acquiring an additional 52,677 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Clean Energy Fuels by 8.5% during the 4th quarter. Renaissance Technologies LLC now owns 935,395 shares of the utilities provider’s stock valued at $1,964,000 after purchasing an additional 73,295 shares during the last quarter. Empowered Funds LLC increased its position in shares of Clean Energy Fuels by 57.1% during the 4th quarter. Empowered Funds LLC now owns 1,005,637 shares of the utilities provider’s stock valued at $2,112,000 after purchasing an additional 365,647 shares during the last quarter. Finally, Deutsche Bank AG increased its position in shares of Clean Energy Fuels by 1.7% during the 4th quarter. Deutsche Bank AG now owns 367,944 shares of the utilities provider’s stock valued at $773,000 after purchasing an additional 6,317 shares during the last quarter. Hedge funds and other institutional investors own 49.94% of the company’s stock.

Insiders Place Their Bets

In other Clean Energy Fuels news, Director Andrew J. Littlefair sold 165,000 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $2.05, for a total value of $338,250.00. Following the completion of the sale, the director owned 1,914,993 shares in the company, valued at approximately $3,925,735.65. This trade represents a 7.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 4.30% of the company’s stock.

Clean Energy Fuels Price Performance

CLNE opened at $1.91 on Friday. The stock’s 50 day simple moving average is $2.18 and its 200 day simple moving average is $2.25. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.46 and a quick ratio of 2.14. Clean Energy Fuels Corp. has a 1 year low of $1.75 and a 1 year high of $3.11. The firm has a market cap of $420.64 million, a price-to-earnings ratio of -4.15 and a beta of 1.86.

Clean Energy Fuels (NASDAQ:CLNE) last posted its quarterly earnings results on Thursday, May 7th. The utilities provider reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.01. Clean Energy Fuels had a negative return on equity of 14.04% and a negative net margin of 22.68%.The business had revenue of $117.56 million for the quarter, compared to analyst estimates of $102.62 million. During the same period last year, the company earned $0.01 EPS. Clean Energy Fuels’s revenue for the quarter was up 13.3% compared to the same quarter last year. As a group, analysts predict that Clean Energy Fuels Corp. will post -0.31 earnings per share for the current year.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Clean Energy Fuels in a research report on Monday, April 20th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Clean Energy Fuels presently has a consensus rating of “Hold” and a consensus target price of $2.48.

Clean Energy Fuels Company Profile

Clean Energy Fuels Corp., founded in 1997 and headquartered in Newport Beach, California, is a leading provider of natural gas and renewable natural gas (RNG) fuel for the transportation sector. The company operates a network of more than 500 fueling stations across the United States and Canada, supplying compressed natural gas (CNG), liquefied natural gas (LNG) and RNG derived from organic waste streams. Clean Energy serves a diverse customer base that includes commercial trucking fleets, public transit agencies, refuse haulers and municipal vehicle operators.

In addition to fuel supply, Clean Energy offers turnkey station design, construction and ongoing maintenance services, as well as fueling hardware and project management.