Clean Energy Fuels (NASDAQ:CLNE) Trading Up 6.9% – Here’s What Happened

Clean Energy Fuels Corp. (NASDAQ:CLNE)’s share price was up 6.9% during mid-day trading on Friday . The company traded as high as $3.17 and last traded at $3.19. Approximately 2,496,491 shares traded hands during mid-day trading, a decline of 7% from the average daily volume of 2,684,922 shares. The stock had previously closed at $2.98.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Clean Energy Fuels from a “sell” rating to a “hold” rating in a research note on Tuesday, December 24th.

Clean Energy Fuels Stock Performance

The business has a fifty day moving average of $2.78 and a 200 day moving average of $2.85. The company has a market cap of $703.90 million, a P/E ratio of -10.16 and a beta of 2.16. The company has a quick ratio of 2.74, a current ratio of 3.06 and a debt-to-equity ratio of 0.36.

Clean Energy Fuels (NASDAQ:CLNE) last issued its quarterly earnings data on Wednesday, November 6th. The utilities provider reported $0.02 EPS for the quarter, topping the consensus estimate 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 business had revenue of $104.90 million during the quarter, compared to analyst estimates of $100.64 million. During the same period last year, the business posted ($0.12) earnings per share. Clean Energy Fuels’s quarterly revenue was up 9.7% compared to the same quarter last year. On average, equities analysts predict that Clean Energy Fuels Corp. will post -0.33 EPS for the current year.

Institutional Trading of Clean Energy Fuels

A number of hedge funds have recently modified their holdings of CLNE. Eastern Bank purchased a new stake in shares of Clean Energy Fuels in the 3rd quarter worth approximately $31,000. Point72 DIFC Ltd bought a new stake in Clean Energy Fuels in the third quarter worth $41,000. Zacks Investment Management purchased a new stake in shares of Clean Energy Fuels in the third quarter worth $42,000. Algert Global LLC bought a new position in shares of Clean Energy Fuels during the second quarter valued at $45,000. Finally, Point72 Asia Singapore Pte. Ltd. raised its position in shares of Clean Energy Fuels by 235.2% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 18,427 shares of the utilities provider’s stock worth $57,000 after purchasing an additional 12,929 shares during the last quarter. Institutional investors 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.