Clean Energy Fuels Corp. (NASDAQ:CLNE) Sees Large Drop in Short Interest

Clean Energy Fuels Corp. (NASDAQ:CLNE) was the recipient of a large decrease in short interest during the month of December. As of December 31st, there was short interest totaling 5,988,579 shares, a decrease of 17.5% from the December 15th total of 7,255,687 shares. Approximately 2.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,159,097 shares, the days-to-cover ratio is currently 5.2 days. Based on an average daily trading volume, of 1,159,097 shares, the days-to-cover ratio is currently 5.2 days. Approximately 2.9% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Clean Energy Fuels in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $3.59.

Institutional Investors Weigh In On Clean Energy Fuels

Several hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. raised its stake in Clean Energy Fuels by 765.1% during the third quarter. JPMorgan Chase & Co. now owns 2,457,876 shares of the utilities provider’s stock worth $6,341,000 after purchasing an additional 2,173,771 shares during the period. Algert Global LLC grew its stake in shares of Clean Energy Fuels by 1,007.1% during the 3rd quarter. Algert Global LLC now owns 800,849 shares of the utilities provider’s stock valued at $2,066,000 after buying an additional 728,509 shares during the period. Manatuck Hill Partners LLC acquired a new stake in shares of Clean Energy Fuels during the 2nd quarter worth $878,000. Empowered Funds LLC purchased a new position in shares of Clean Energy Fuels in the 1st quarter worth $579,000. Finally, Voya Investment Management LLC raised its position in shares of 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 worth $1,973,000 after buying an additional 342,982 shares during the period. Institutional investors and hedge funds own 49.94% of the company’s stock.

Clean Energy Fuels Stock Performance

Shares of CLNE opened at $2.14 on Wednesday. Clean Energy Fuels has a 1 year low of $1.30 and a 1 year high of $3.67. The company’s 50 day simple moving average is $2.20 and its 200 day simple moving average is $2.38. The company has a market capitalization of $469.30 million, a price-to-earnings ratio of -2.30 and a beta of 2.13. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.39 and a current ratio of 2.69.

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.