Clean Energy Fuels (NASDAQ:CLNE) Trading Up 7.9% – Here’s Why

Clean Energy Fuels Corp. (NASDAQ:CLNE) shares shot up 7.9% during mid-day trading on Tuesday . The company traded as high as $3.31 and last traded at $3.35. 479,079 shares traded hands during trading, a decline of 82% from the average session volume of 2,718,174 shares. The stock had previously closed at $3.10.

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.

Clean Energy Fuels Trading Up 11.5 %

The stock’s 50 day moving average is $2.85 and its two-hundred day moving average is $2.89. The company has a market capitalization of $772.05 million, a PE ratio of -11.18 and a beta of 2.18. 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 posted its quarterly earnings data on Wednesday, November 6th. The utilities provider reported $0.02 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $104.90 million for the quarter, compared to the consensus estimate of $100.64 million. During the same quarter in the prior year, the company posted ($0.12) earnings per share. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. As a group, sell-side analysts predict that Clean Energy Fuels Corp. will post -0.33 EPS for the current fiscal year.

Hedge Funds Weigh In On Clean Energy Fuels

Several hedge funds have recently modified their holdings of CLNE. Sei Investments Co. acquired a new position in shares of Clean Energy Fuels during the second quarter valued at about $74,000. AQR Capital Management LLC increased its holdings in Clean Energy Fuels by 49.1% in the 2nd quarter. AQR Capital Management LLC now owns 234,235 shares of the utilities provider’s stock worth $625,000 after buying an additional 77,170 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Clean Energy Fuels by 10.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 69,853 shares of the utilities provider’s stock worth $187,000 after buying an additional 6,637 shares during the period. Algert Global LLC acquired a new position in Clean Energy Fuels in the 2nd quarter worth approximately $45,000. Finally, Clearbridge Investments LLC boosted its position in Clean Energy Fuels by 6.8% in the 2nd quarter. Clearbridge Investments LLC now owns 462,022 shares of the utilities provider’s stock worth $1,234,000 after purchasing an additional 29,400 shares in 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.