Clean Energy Fuels (NASDAQ:CLNE) Releases Quarterly Earnings Results, Misses Expectations By $0.07 EPS

Clean Energy Fuels (NASDAQ:CLNE) announced its quarterly earnings data on Tuesday. The utilities provider reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.07), Zacks reports. Clean Energy Fuels had a negative return on equity of 27.98% and a negative net margin of 48.40%.

Clean Energy Fuels Price Performance

CLNE traded down $0.11 during trading on Tuesday, hitting $2.78. The company’s stock had a trading volume of 1,479,110 shares, compared to its average volume of 2,362,451. The stock has a market capitalization of $609.62 million, a price-to-earnings ratio of -3.09 and a beta of 2.70. Clean Energy Fuels has a 12 month low of $1.30 and a 12 month high of $3.67. The company has a quick ratio of 2.51, a current ratio of 2.83 and a debt-to-equity ratio of 0.47. The firm’s 50 day moving average price is $2.69 and its two-hundred day moving average price is $2.22.

Insider Buying and Selling at Clean Energy Fuels

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. NewEdge Advisors LLC lifted its holdings in shares of Clean Energy Fuels by 1,419,900.0% in the second quarter. NewEdge Advisors LLC now owns 14,200 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 14,199 shares in the last quarter. BNP Paribas Financial Markets raised its stake in Clean Energy Fuels by 54.8% in the second quarter. BNP Paribas Financial Markets now owns 14,844 shares of the utilities provider’s stock valued at $29,000 after buying an additional 5,254 shares during the period. Prudential Financial Inc. raised its stake in Clean Energy Fuels by 91.1% in the second quarter. Prudential Financial Inc. now owns 25,831 shares of the utilities provider’s stock valued at $50,000 after buying an additional 12,317 shares during the period. Tower Research Capital LLC TRC raised its stake in Clean Energy Fuels by 317.9% in the second quarter. Tower Research Capital LLC TRC now owns 27,152 shares of the utilities provider’s stock valued at $53,000 after buying an additional 20,654 shares during the period. Finally, Engineers Gate Manager LP bought a new position in shares of Clean Energy Fuels during the second quarter worth approximately $68,000. 49.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. UBS Group restated a “buy” rating and set a $2.75 target price (up previously from $2.00) on shares of Clean Energy Fuels in a research report on Tuesday, August 12th. Jefferies Financial Group downgraded Clean Energy Fuels from a “buy” rating to a “hold” rating and set a $2.20 target price for the company. in a research report on Friday, August 8th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Clean Energy Fuels in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $3.59.

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.