Clean Energy Fuels (NASDAQ:CLNE) Posts Earnings Results, Beats Expectations By $0.01 EPS

Clean Energy Fuels (NASDAQ:CLNE) released its quarterly earnings results on Tuesday. The utilities provider reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.01, Zacks reports. Clean Energy Fuels had a negative return on equity of 27.98% and a negative net margin of 48.40%.The company had revenue of $106.14 million during the quarter, compared to analysts’ expectations of $100.98 million. During the same quarter in the prior year, the business posted $0.02 earnings per share. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year.

Clean Energy Fuels Trading Up 2.0%

Shares of CLNE stock traded up $0.05 during mid-day trading on Friday, hitting $2.29. The company’s stock had a trading volume of 560,869 shares, compared to its average volume of 2,361,047. Clean Energy Fuels has a 52 week low of $1.30 and a 52 week high of $3.67. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.51 and a current ratio of 2.83. The company has a market cap of $501.08 million, a PE ratio of -2.53 and a beta of 2.73. The company’s fifty day simple moving average is $2.68 and its 200-day simple moving average is $2.22.

Wall Street Analyst Weigh In

CLNE has been the topic of a number of research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Clean Energy Fuels in a research report on Wednesday, October 8th. Jefferies Financial Group cut Clean Energy Fuels from a “buy” rating to a “hold” rating and set a $2.20 target price on the stock. in a report on Friday, August 8th. Finally, UBS Group reiterated a “buy” rating and set a $2.75 price objective (up previously from $2.00) on shares of Clean Energy Fuels in a report on Tuesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Clean Energy Fuels presently has an average rating of “Moderate Buy” and a consensus target price of $3.59.

Insider Buying and Selling

In other news, SVP Barclay Corbus sold 105,300 shares of Clean Energy Fuels stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $2.63, for a total transaction of $276,939.00. Following the completion of the transaction, the senior vice president directly owned 1,061,248 shares in the company, valued at $2,791,082.24. This trade represents a 9.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Clean Energy Fuels

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CLNE. Vanguard Group Inc. grew its position in Clean Energy Fuels by 3.1% during the third quarter. Vanguard Group Inc. now owns 11,402,549 shares of the utilities provider’s stock worth $29,419,000 after buying an additional 341,333 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Clean Energy Fuels by 765.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,457,876 shares of the utilities provider’s stock valued at $6,341,000 after purchasing an additional 2,173,771 shares in the last quarter. Bridgeway Capital Management LLC grew its position in shares of Clean Energy Fuels by 19.8% in the 2nd quarter. Bridgeway Capital Management LLC now owns 1,166,587 shares of the utilities provider’s stock worth $2,275,000 after buying an additional 192,817 shares during the period. Bank of America Corp DE raised its stake in Clean Energy Fuels by 10.7% during the second quarter. Bank of America Corp DE now owns 599,829 shares of the utilities provider’s stock valued at $1,170,000 after buying an additional 58,176 shares during the last quarter. Finally, Manatuck Hill Partners LLC bought a new stake in shares of Clean Energy Fuels in the 2nd quarter worth $878,000. 49.94% of the stock is currently owned by institutional investors.

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.