Clean Energy Fuels (NASDAQ:CLNE) Hits New 1-Year High - Here's Why

Clean Energy Fuels Corp. (NASDAQ:CLNE - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $3.49 and last traded at $3.45, with a volume of 3887304 shares changing hands. The stock had previously closed at $3.10.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Clean Energy Fuels from a "sell" rating to a "hold" rating in a research note on Tuesday.

Clean Energy Fuels Stock Performance

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 capitalization of $762.00 million, a PE ratio of -11.00 and a beta of 2.18. The firm's 50-day moving average price is $2.89 and its two-hundred day moving average price is $2.91.

Clean Energy Fuels (NASDAQ:CLNE - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The utilities provider reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.04. The firm had revenue of $104.90 million during the quarter, compared to the consensus estimate of $100.64 million. Clean Energy Fuels had a negative return on equity of 7.59% and a negative net margin of 17.32%. The business's revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the prior year, the business earned ($0.12) EPS. As a group, research analysts predict that Clean Energy Fuels Corp. will post -0.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CLNE. Eastern Bank acquired a new position in Clean Energy Fuels in the third quarter worth approximately $31,000. Point72 DIFC Ltd acquired a new position in shares of Clean Energy Fuels during the 3rd quarter worth $41,000. Zacks Investment Management bought a new position in shares of Clean Energy Fuels during the 3rd quarter valued at $42,000. Algert Global LLC acquired a new stake in shares of Clean Energy Fuels in the 2nd quarter valued at $45,000. Finally, Versor Investments LP bought a new stake in Clean Energy Fuels in the fourth quarter worth $45,000. 49.94% of the stock is owned by hedge funds and other institutional investors.

About Clean Energy Fuels

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.