Clean Energy Fuels (NASDAQ:CLNE) Trading Up 6.4% - Here's What Happened

Shares of Clean Energy Fuels Corp. (NASDAQ:CLNE - Get Free Report) were up 6.4% during mid-day trading on Monday . The company traded as high as $3.03 and last traded at $3.01. Approximately 496,725 shares changed hands during trading, a decline of 68% from the average daily volume of 1,556,236 shares. The stock had previously closed at $2.83.

Wall Street Analyst Weigh In

Several research firms have issued reports on CLNE. StockNews.com upgraded shares of Clean Energy Fuels to a "sell" rating in a research report on Wednesday, August 14th. Scotiabank lifted their target price on Clean Energy Fuels from $5.00 to $6.00 and gave the stock a "sector outperform" rating in a research report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Clean Energy Fuels presently has a consensus rating of "Moderate Buy" and an average target price of $5.38.

Clean Energy Fuels Trading Up 3.2 %

The business's 50 day moving average price is $2.94 and its 200-day moving average price is $2.77. The company has a market cap of $652.42 million, a price-to-earnings ratio of -8.34 and a beta of 2.12. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.82 and a current ratio of 3.17.

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

Institutional Trading of Clean Energy Fuels

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of Clean Energy Fuels by 1.0% during the first quarter. Vanguard Group Inc. now owns 10,101,301 shares of the utilities provider's stock valued at $27,071,000 after acquiring an additional 100,271 shares during the period. SIR Capital Management L.P. lifted its holdings in Clean Energy Fuels by 9.8% during the 2nd quarter. SIR Capital Management L.P. now owns 2,764,529 shares of the utilities provider's stock valued at $7,381,000 after purchasing an additional 246,600 shares during the last quarter. Connors Investor Services Inc. lifted its holdings in Clean Energy Fuels by 5.1% during the 1st quarter. Connors Investor Services Inc. now owns 813,904 shares of the utilities provider's stock valued at $2,181,000 after purchasing an additional 39,186 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Clean Energy Fuels by 11.6% in the second quarter. Bank of New York Mellon Corp now owns 642,202 shares of the utilities provider's stock valued at $1,715,000 after buying an additional 66,523 shares in the last quarter. Finally, Clearbridge Investments LLC grew its stake in Clean Energy Fuels by 6.8% during the second quarter. Clearbridge Investments LLC now owns 462,022 shares of the utilities provider's stock worth $1,234,000 after buying an additional 29,400 shares during the last quarter. Institutional investors and hedge funds own 49.94% of the company's stock.

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.