Clean Energy Fuels (NASDAQ:CLNE) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Clean Energy Fuels Corp. (NASDAQ:CLNE)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.39 and traded as high as $2.84. Clean Energy Fuels shares last traded at $2.75, with a volume of 2,828,752 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Clean Energy Fuels in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Clean Energy Fuels has an average rating of “Moderate Buy” and an average price target of $3.59.

Clean Energy Fuels Stock Up 9.1%

The firm has a 50-day simple moving average of $2.24 and a 200 day simple moving average of $2.39. The stock has a market capitalization of $603.08 million, a P/E ratio of -2.96 and a beta of 2.20. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.69 and a quick ratio of 2.39.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CLNE. NewEdge Advisors LLC increased its holdings in 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 worth $28,000 after purchasing an additional 14,199 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in Clean Energy Fuels by 140.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 14,971 shares of the utilities provider’s stock worth $29,000 after buying an additional 8,738 shares during the period. BNP Paribas Financial Markets boosted its holdings 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 worth $29,000 after acquiring an additional 5,254 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Clean Energy Fuels during the third quarter valued at approximately $31,000. Finally, CWM LLC lifted its holdings in shares of Clean Energy Fuels by 40.3% in the 4th quarter. CWM LLC now owns 16,683 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 4,791 shares in the last quarter. 49.94% of the stock is owned by institutional investors.

About Clean Energy Fuels

Clean Energy Fuels Corp., founded in 1997 and headquartered in Newport Beach, California, is a leading provider of natural gas and renewable natural gas (RNG) fuel for the transportation sector. The company operates a network of more than 500 fueling stations across the United States and Canada, supplying compressed natural gas (CNG), liquefied natural gas (LNG) and RNG derived from organic waste streams. Clean Energy serves a diverse customer base that includes commercial trucking fleets, public transit agencies, refuse haulers and municipal vehicle operators.

In addition to fuel supply, Clean Energy offers turnkey station design, construction and ongoing maintenance services, as well as fueling hardware and project management.