Global Alpha Capital Management Ltd. Cuts Stock Position in Clean Energy Fuels Corp. $CLNE

Global Alpha Capital Management Ltd. trimmed its holdings in shares of Clean Energy Fuels Corp. (NASDAQ:CLNE) by 10.3% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 8,744,065 shares of the utilities provider’s stock after selling 1,006,011 shares during the period. Global Alpha Capital Management Ltd.’s holdings in Clean Energy Fuels were worth $17,051,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CLNE. Voya Investment Management LLC grew its stake in Clean Energy Fuels by 36.9% in the 1st quarter. Voya Investment Management LLC now owns 1,272,888 shares of the utilities provider’s stock valued at $1,973,000 after acquiring an additional 342,982 shares during the period. GMT Capital Corp lifted its holdings in Clean Energy Fuels by 211.3% during the first quarter. GMT Capital Corp now owns 767,758 shares of the utilities provider’s stock valued at $1,190,000 after purchasing an additional 521,089 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Clean Energy Fuels in the first quarter valued at about $1,113,000. Nuveen LLC acquired a new stake in shares of Clean Energy Fuels in the first quarter valued at about $1,005,000. Finally, Deutsche Bank AG increased its stake in shares of Clean Energy Fuels by 60.7% during the first quarter. Deutsche Bank AG now owns 588,146 shares of the utilities provider’s stock worth $912,000 after purchasing an additional 222,061 shares in the last quarter. Hedge funds and other institutional investors own 49.94% of the company’s stock.

Clean Energy Fuels Stock Performance

NASDAQ CLNE opened at $2.39 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.51 and a current ratio of 2.83. The stock’s fifty day moving average is $2.67 and its two-hundred day moving average is $2.22. The firm has a market capitalization of $524.10 million, a P/E ratio of -2.66 and a beta of 2.73. Clean Energy Fuels Corp. has a fifty-two week low of $1.30 and a fifty-two week high of $3.67.

Clean Energy Fuels (NASDAQ:CLNE) last issued its earnings results on Tuesday, November 4th. The utilities provider reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.01. The business had revenue of $106.14 million during the quarter, compared to the consensus estimate 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 company’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period last year, the company earned $0.02 EPS. On average, research analysts anticipate that Clean Energy Fuels Corp. will post -0.33 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on CLNE shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Clean Energy Fuels in a research note on Wednesday, October 8th. Jefferies Financial Group lowered Clean Energy Fuels from a “buy” rating to a “hold” rating and set a $2.20 price target on the stock. in a research note on Friday, August 8th. Finally, UBS Group reissued a “buy” rating and issued a $2.75 price objective (up from $2.00) on shares of Clean Energy Fuels in a research note on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $3.59.

Insider Transactions at Clean Energy Fuels

In other Clean Energy Fuels news, SVP Barclay Corbus sold 105,300 shares of Clean Energy Fuels stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $2.63, for a total transaction of $276,939.00. Following the transaction, the senior vice president directly owned 1,061,248 shares of the company’s stock, valued at $2,791,082.24. The trade was a 9.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.30% of the company’s stock.

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.