Clean Energy Fuels (NASDAQ:CLNE) Issues Earnings Results, Misses Estimates By $0.07 EPS

Clean Energy Fuels (NASDAQ:CLNE) issued its earnings results on Tuesday. The utilities provider reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.07), Zacks reports. The firm had revenue of $106.14 million during the quarter, compared to analysts’ expectations of $100.98 million. Clean Energy Fuels had a negative return on equity of 27.98% and a negative net margin of 48.40%.The business’s revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the business earned $0.02 EPS.

Clean Energy Fuels Price Performance

Shares of Clean Energy Fuels stock traded down $0.56 on Wednesday, hitting $2.23. The company’s stock had a trading volume of 2,697,053 shares, compared to its average volume of 2,363,203. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.51 and a current ratio of 2.83. Clean Energy Fuels has a 1 year low of $1.30 and a 1 year high of $3.67. The firm has a fifty day moving average price of $2.69 and a 200-day moving average price of $2.22. The company has a market capitalization of $487.92 million, a price-to-earnings ratio of -2.47 and a beta of 2.70.

Wall Street Analyst Weigh In

CLNE has been the subject of several analyst reports. Jefferies Financial Group cut Clean Energy Fuels from a “buy” rating to a “hold” rating and set a $2.20 price objective for the company. in a report on Friday, August 8th. UBS Group reissued a “buy” rating and issued a $2.75 price objective (up previously from $2.00) on shares of Clean Energy Fuels in a report on Tuesday, August 12th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Clean Energy Fuels in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $3.59.

Insider Buying and Selling at Clean Energy Fuels

In related news, SVP Barclay Corbus sold 105,300 shares of Clean Energy Fuels stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $2.63, for a total value of $276,939.00. Following the completion of the transaction, the senior vice president owned 1,061,248 shares in the company, valued at $2,791,082.24. The trade was a 9.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Clean Energy Fuels

Several institutional investors and hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets increased its stake in shares of Clean Energy Fuels by 54.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 14,844 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 5,254 shares in the last quarter. Rhumbline Advisers increased its stake in Clean Energy Fuels by 2.2% during the 2nd quarter. Rhumbline Advisers now owns 270,664 shares of the utilities provider’s stock worth $528,000 after buying an additional 5,933 shares in the last quarter. Franklin Resources Inc. increased its stake in Clean Energy Fuels by 6.0% during the 2nd quarter. Franklin Resources Inc. now owns 126,655 shares of the utilities provider’s stock worth $247,000 after buying an additional 7,142 shares in the last quarter. Prudential Financial Inc. increased its stake in Clean Energy Fuels by 91.1% during the 2nd quarter. Prudential Financial Inc. now owns 25,831 shares of the utilities provider’s stock worth $50,000 after buying an additional 12,317 shares in the last quarter. Finally, NewEdge Advisors LLC increased its stake in Clean Energy Fuels by 1,419,900.0% during the 2nd quarter. NewEdge Advisors LLC now owns 14,200 shares of the utilities provider’s stock worth $28,000 after buying an additional 14,199 shares in the last quarter. Hedge funds and other institutional investors 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.