Short Interest in Clean Energy Fuels Corp. (NASDAQ:CLNE) Decreases By 6.1%

Clean Energy Fuels Corp. (NASDAQ:CLNE - Get Free Report) saw a significant decline in short interest during the month of August. As of August 15th, there was short interest totalling 11,940,000 shares, a decline of 6.1% from the July 31st total of 12,720,000 shares. Based on an average trading volume of 1,740,000 shares, the days-to-cover ratio is currently 6.9 days. Approximately 7.3% of the company's shares are sold short.

Clean Energy Fuels Trading Down 1.3 %

Shares of CLNE traded down $0.04 during mid-day trading on Monday, reaching $3.09. 1,365,700 shares of the company's stock traded hands, compared to its average volume of 1,654,145. The stock has a market cap of $690.40 million, a P/E ratio of -8.83 and a beta of 2.15. The stock's 50-day moving average is $2.77 and its two-hundred day moving average is $2.68. Clean Energy Fuels has a 12 month low of $2.17 and a 12 month high of $4.93. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.17 and a quick ratio of 2.82.

Clean Energy Fuels (NASDAQ:CLNE - Get Free Report) last released its earnings results on Wednesday, August 7th. The utilities provider reported $0.01 EPS for the quarter, beating analysts' consensus estimates of ($0.04) by $0.05. The firm had revenue of $97.95 million for the quarter, compared to analysts' expectations of $106.45 million. Clean Energy Fuels had a negative return on equity of 8.75% and a negative net margin of 19.61%. The company's quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.07) earnings per share. Research analysts forecast that Clean Energy Fuels will post -0.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Tidal Investments LLC purchased a new stake in shares of Clean Energy Fuels in the first quarter valued at approximately $33,000. Grassi Investment Management purchased a new stake in shares of Clean Energy Fuels in the first quarter valued at approximately $36,000. DRW Securities LLC purchased a new stake in shares of Clean Energy Fuels in the second quarter valued at approximately $38,000. Algert Global LLC purchased a new stake in shares of Clean Energy Fuels in the second quarter valued at approximately $45,000. Finally, Pinnacle Wealth Planning Services Inc. purchased a new stake in shares of Clean Energy Fuels in the first quarter valued at approximately $52,000. Institutional investors own 49.94% of the company's stock.

Analysts Set New Price Targets

Separately, StockNews.com raised Clean Energy Fuels to a "sell" rating in a research note on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Clean Energy Fuels currently has a consensus rating of "Moderate Buy" and an average target price of $5.60.

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.