JPMorgan Chase & Co. Buys 551,896 Shares of Clean Energy Fuels Corp. (NASDAQ:CLNE)

JPMorgan Chase & Co. increased its stake in shares of Clean Energy Fuels Corp. (NASDAQ:CLNE - Free Report) by 309.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 730,218 shares of the utilities provider's stock after buying an additional 551,896 shares during the quarter. JPMorgan Chase & Co. owned 0.33% of Clean Energy Fuels worth $2,271,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of CLNE. Eastern Bank bought a new stake in Clean Energy Fuels during the 3rd quarter worth approximately $31,000. DRW Securities LLC bought a new stake in shares of Clean Energy Fuels during the second quarter worth $38,000. Point72 DIFC Ltd acquired a new stake in shares of Clean Energy Fuels in the third quarter valued at $41,000. Zacks Investment Management bought a new position in shares of Clean Energy Fuels in the third quarter valued at about $42,000. Finally, Algert Global LLC acquired a new position in Clean Energy Fuels during the 2nd quarter worth about $45,000. 49.94% of the stock is currently owned by institutional investors.

Clean Energy Fuels Trading Down 0.7 %

Shares of CLNE traded down $0.02 during trading hours on Wednesday, hitting $2.92. 2,222,222 shares of the stock traded hands, compared to its average volume of 2,765,875. The business has a fifty day moving average of $2.78 and a 200-day moving average of $2.85. The firm has a market capitalization of $652.50 million, a PE ratio of -9.42 and a beta of 2.16. Clean Energy Fuels Corp. has a 1-year low of $2.17 and a 1-year high of $3.37. The company has a current ratio of 3.06, a quick ratio of 2.74 and a debt-to-equity ratio of 0.36.

Clean Energy Fuels (NASDAQ:CLNE - Get Free Report) last released its earnings results on Wednesday, November 6th. The utilities provider reported $0.02 EPS for the quarter, topping analysts' consensus estimates of ($0.02) by $0.04. Clean Energy Fuels had a negative net margin of 17.32% and a negative return on equity of 7.59%. The firm had revenue of $104.90 million during the quarter, compared to analyst estimates of $100.64 million. During the same quarter in the previous year, the business earned ($0.12) EPS. The business's quarterly revenue was up 9.7% compared to the same quarter last year. Analysts expect that Clean Energy Fuels Corp. will post -0.33 EPS for the current year.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Clean Energy Fuels from a "sell" rating to a "hold" rating in a research report on Tuesday, December 24th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Clean Energy Fuels presently has a consensus rating of "Buy" and a consensus target price of $5.38.

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.