Arosa Capital Management LP Sells 130,000 Shares of Clean Energy Fuels Corp. (NASDAQ:CLNE)

Arosa Capital Management LP reduced its position in shares of Clean Energy Fuels Corp. (NASDAQ:CLNE) by 4.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 3,081,189 shares of the utilities provider’s stock after selling 130,000 shares during the quarter. Clean Energy Fuels makes up 3.7% of Arosa Capital Management LP’s portfolio, making the stock its 4th biggest holding. Arosa Capital Management LP’s holdings in Clean Energy Fuels were worth $9,582,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Eastern Bank acquired a new stake in shares of Clean Energy Fuels during the 3rd quarter worth about $31,000. Tidal Investments LLC purchased a new stake in Clean Energy Fuels in the first quarter valued at approximately $33,000. DRW Securities LLC purchased a new stake in Clean Energy Fuels in the second quarter valued at approximately $38,000. Algert Global LLC acquired a new position in Clean Energy Fuels during the second quarter worth $45,000. Finally, Point72 Asia Singapore Pte. Ltd. boosted its position in shares of Clean Energy Fuels by 235.2% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 18,427 shares of the utilities provider’s stock worth $57,000 after buying an additional 12,929 shares during the period. 49.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CLNE. StockNews.com upgraded Clean Energy Fuels from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Scotiabank raised their price target 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 analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Clean Energy Fuels presently has an average rating of “Buy” and a consensus price target of $5.38.

Clean Energy Fuels Stock Performance

NASDAQ CLNE opened at $3.08 on Monday. The company has a fifty day moving average of $2.93 and a two-hundred day moving average of $2.84. The company has a market capitalization of $688.26 million, a PE ratio of -9.94 and a beta of 2.12. Clean Energy Fuels Corp. has a 1 year low of $2.17 and a 1 year high of $4.13. 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 earnings results on Wednesday, November 6th. The utilities provider reported $0.02 earnings per share 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 the consensus estimate of $100.64 million. During the same quarter in the prior year, the firm earned ($0.12) earnings per share. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. As a group, analysts expect that Clean Energy Fuels Corp. will post -0.33 earnings per share 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.