Clean Energy Fuels (NASDAQ:CLNE) Shares Cross Above Two Hundred Day Moving Average – Here’s What Happened

Clean Energy Fuels Corp. (NASDAQ:CLNE) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $2.22 and traded as high as $2.27. Clean Energy Fuels shares last traded at $2.15, with a volume of 2,614,981 shares traded.

Analyst Upgrades and Downgrades

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

Clean Energy Fuels Stock Performance

The firm has a market capitalization of $473.49 million, a price-to-earnings ratio of -4.67 and a beta of 1.82. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.46 and a quick ratio of 2.14. The firm has a 50 day moving average price of $2.02 and a 200-day moving average price of $2.22.

Clean Energy Fuels (NASDAQ:CLNE) last released its earnings results on Thursday, May 7th. The utilities provider reported ($0.01) 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 firm had revenue of $117.56 million during the quarter, compared to analysts’ expectations of $102.62 million. During the same period in the previous year, the firm posted $0.01 EPS. Clean Energy Fuels’s revenue for the quarter was up 13.3% on a year-over-year basis. As a group, sell-side analysts expect that Clean Energy Fuels Corp. will post -0.31 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Andrew J. Littlefair sold 165,000 shares of Clean Energy Fuels stock in a transaction dated 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 transaction, 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 4.12% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. increased its holdings in Clean Energy Fuels by 765.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,457,876 shares of the utilities provider’s stock valued at $6,341,000 after acquiring an additional 2,173,771 shares in the last quarter. SIR Capital Management L.P. lifted its holdings in shares of Clean Energy Fuels by 17.2% in the fourth quarter. SIR Capital Management L.P. now owns 2,103,095 shares of the utilities provider’s stock valued at $4,416,000 after purchasing an additional 308,300 shares in the last quarter. J. Derek Lewis & Associates Inc. acquired a new stake in shares of Clean Energy Fuels in the fourth quarter valued at approximately $3,915,000. Ariadne Wealth Management LP acquired a new stake in shares of Clean Energy Fuels in the fourth quarter valued at approximately $37,000. Finally, K2 Principal Fund L.P. purchased a new position in shares of Clean Energy Fuels during the 4th quarter worth approximately $525,000. 49.94% of the stock is owned by institutional investors and hedge funds.

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.