Grassi Investment Management Boosts Holdings in Clean Energy Fuels Corp. (NASDAQ:CLNE)

Grassi Investment Management grew its position in Clean Energy Fuels Corp. (NASDAQ:CLNE) by 63.8% during the 1st quarter, HoldingsChannel reports. The fund owned 38,500 shares of the utilities provider’s stock after purchasing an additional 15,000 shares during the period. Grassi Investment Management’s holdings in Clean Energy Fuels were worth $60,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CLNE. Wellington Management Group LLP grew its holdings in Clean Energy Fuels by 14.0% during the 4th quarter. Wellington Management Group LLP now owns 102,670 shares of the utilities provider’s stock valued at $258,000 after purchasing an additional 12,628 shares during the last quarter. GF Fund Management CO. LTD. bought a new position in shares of Clean Energy Fuels during the fourth quarter valued at approximately $145,000. GTS Securities LLC raised its holdings in shares of Clean Energy Fuels by 16.8% in the fourth quarter. GTS Securities LLC now owns 27,446 shares of the utilities provider’s stock worth $69,000 after buying an additional 3,955 shares during the period. Two Sigma Advisers LP lifted its stake in shares of Clean Energy Fuels by 115.6% during the 4th quarter. Two Sigma Advisers LP now owns 178,300 shares of the utilities provider’s stock worth $448,000 after acquiring an additional 95,600 shares during the last quarter. Finally, Two Sigma Investments LP boosted its holdings in Clean Energy Fuels by 93.3% during the 4th quarter. Two Sigma Investments LP now owns 448,096 shares of the utilities provider’s stock valued at $1,125,000 after acquiring an additional 216,278 shares during the period. Institutional investors own 49.94% of the company’s stock.

Clean Energy Fuels Stock Down 4.8%

Clean Energy Fuels stock opened at $1.78 on Thursday. The company has a quick ratio of 2.74, a current ratio of 3.06 and a debt-to-equity ratio of 0.36. The firm has a market cap of $393.35 million, a P/E ratio of -5.74 and a beta of 2.57. The business has a fifty day moving average of $1.62 and a two-hundred day moving average of $2.28. Clean Energy Fuels Corp. has a twelve month low of $1.30 and a twelve month high of $3.67.

Clean Energy Fuels (NASDAQ:CLNE) last issued its quarterly earnings data on Thursday, May 8th. The utilities provider reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.21. Clean Energy Fuels had a negative return on equity of 7.59% and a negative net margin of 17.32%. The firm had revenue of $103.76 million during the quarter, compared to analysts’ expectations of $96.61 million. During the same period in the prior year, the business posted ($0.01) EPS. The firm’s quarterly revenue was up .1% on a year-over-year basis. On average, analysts forecast that Clean Energy Fuels Corp. will post -0.33 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CLNE has been the topic of a number of recent analyst reports. Raymond James reiterated a “strong-buy” rating and issued a $4.00 target price (down previously from $5.00) on shares of Clean Energy Fuels in a research note on Tuesday, February 25th. Wall Street Zen downgraded shares of Clean Energy Fuels from a “hold” rating to a “sell” rating in a research note on Wednesday, February 26th. Scotiabank lowered their price objective on shares of Clean Energy Fuels from $6.00 to $4.00 and set a “sector outperform” rating for the company in a research report on Friday, April 11th. Lake Street Capital reduced their target price on shares of Clean Energy Fuels from $22.00 to $5.00 and set a “buy” rating on the stock in a research report on Friday, May 9th. Finally, UBS Group set a $2.00 price target on shares of Clean Energy Fuels and gave the company a “buy” rating in a research note on Sunday, April 13th. One research analyst has rated the stock with a sell rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Clean Energy Fuels has an average rating of “Moderate Buy” and an average target price of $3.75.

Clean Energy Fuels 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.