Connors Investor Services Inc. Decreases Stock Position in Clean Energy Fuels Corp. (NASDAQ:CLNE)

Connors Investor Services Inc. lowered its stake in Clean Energy Fuels Corp. (NASDAQ:CLNE) by 2.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 796,230 shares of the utilities provider’s stock after selling 17,674 shares during the period. Connors Investor Services Inc. owned about 0.36% of Clean Energy Fuels worth $2,126,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in CLNE. Charles Schwab Investment Management Inc. boosted its position in shares of Clean Energy Fuels by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,367,278 shares of the utilities provider’s stock worth $5,237,000 after acquiring an additional 19,616 shares in the last quarter. BNP Paribas Financial Markets grew its position in shares of Clean Energy Fuels by 271.6% in the 4th quarter. BNP Paribas Financial Markets now owns 145,256 shares of the utilities provider’s stock valued at $556,000 after buying an additional 106,162 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Clean Energy Fuels by 6.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 12,314,636 shares of the utilities provider’s stock valued at $47,167,000 after acquiring an additional 702,049 shares during the last quarter. Brown Advisory Inc. boosted its stake in Clean Energy Fuels by 24.3% in the fourth quarter. Brown Advisory Inc. now owns 49,736 shares of the utilities provider’s stock valued at $190,000 after acquiring an additional 9,736 shares in the last quarter. Finally, Clearbridge Investments LLC grew its holdings in shares of Clean Energy Fuels by 5.0% during the fourth quarter. Clearbridge Investments LLC now owns 358,822 shares of the utilities provider’s stock worth $1,374,000 after purchasing an additional 17,000 shares during the last quarter. Institutional investors and hedge funds own 49.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on CLNE shares. StockNews.com upgraded shares of Clean Energy Fuels to a “sell” rating in a research note on Wednesday, August 14th. Scotiabank lifted their target price on Clean Energy Fuels from $5.00 to $6.00 and gave the company a “sector outperform” rating in a research note on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $5.38.

Clean Energy Fuels Stock Performance

NASDAQ CLNE opened at $3.05 on Tuesday. 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 Corp. has a 1-year low of $2.17 and a 1-year high of $4.36. The business’s 50-day simple moving average is $2.83 and its 200-day simple moving average is $2.67. The firm has a market capitalization of $680.95 million, a P/E ratio of -8.71 and a beta of 2.12.

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

Clean Energy Fuels Company 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.