Clean Energy Fuels Corp. (NASDAQ:CLNE) Holdings Increased by Grassi Investment Management

Grassi Investment Management grew its stake in shares of Clean Energy Fuels Corp. (NASDAQ:CLNE) by 74.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 23,500 shares of the utilities provider’s stock after acquiring an additional 10,000 shares during the period. Grassi Investment Management’s holdings in Clean Energy Fuels were worth $59,000 at the end of the most recent reporting period.

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

Clean Energy Fuels Stock Down 10.2 %

CLNE traded down $0.31 on Monday, reaching $2.73. 2,435,525 shares of the company traded hands, compared to its average volume of 3,169,631. The stock’s 50 day moving average price is $2.82 and its 200-day moving average price is $2.84. Clean Energy Fuels Corp. has a 52-week low of $2.17 and a 52-week high of $3.42. The company has a market cap of $610.04 million, a price-to-earnings ratio of -8.81 and a beta of 2.16. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.06 and a quick ratio of 2.74.

Clean Energy Fuels (NASDAQ:CLNE) last announced its quarterly earnings data on Wednesday, November 6th. The utilities provider reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.04. The firm had revenue of $104.90 million for the quarter, compared to the consensus estimate of $100.64 million. Clean Energy Fuels had a negative net margin of 17.32% and a negative return on equity of 7.59%. The firm’s revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.12) earnings per share. On average, sell-side analysts expect that Clean Energy Fuels Corp. will post -0.33 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Clean Energy Fuels from a “sell” rating to a “hold” rating in a research report on Tuesday, December 24th. One research 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 company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $5.38.

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.