Clean Energy Fuels (NASDAQ:CLNE) Stock Price Passes Above 200-Day Moving Average – Time to Sell?

Shares of Clean Energy Fuels Corp. (NASDAQ:CLNE) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.22 and traded as high as $2.27. Clean Energy Fuels shares last traded at $2.15, with a volume of 2,614,981 shares trading hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Clean Energy Fuels in a research note on Monday, April 20th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Clean Energy Fuels presently has an average rating of “Hold” and a consensus price target of $2.48.

Clean Energy Fuels Trading Up 1.9%

The company has a market capitalization of $482.30 million, a PE ratio of -4.76 and a beta of 1.82. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.46 and a quick ratio of 2.14. The company’s fifty day moving average is $2.02 and its 200-day moving average is $2.22.

Clean Energy Fuels (NASDAQ:CLNE) last posted its earnings results on Thursday, May 7th. The utilities provider reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. Clean Energy Fuels had a negative return on equity of 14.04% and a negative net margin of 22.68%.The company had revenue of $117.56 million during the quarter, compared to analyst estimates of $102.62 million. During the same quarter in the prior year, the business earned $0.01 earnings per share. Clean Energy Fuels’s revenue was up 13.3% on a year-over-year basis. On average, analysts anticipate that Clean Energy Fuels Corp. will post -0.31 EPS for the current fiscal year.

Insider Buying and Selling at Clean Energy Fuels

In related news, Director Andrew J. Littlefair sold 165,000 shares of the firm’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $2.05, for a total transaction of $338,250.00. Following the sale, the director owned 1,914,993 shares of the company’s stock, valued at $3,925,735.65. This trade represents a 7.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 4.12% of the stock is owned by company insiders.

Institutional Trading of Clean Energy Fuels

Several hedge funds have recently modified their holdings of the company. AQR Capital Management LLC boosted its stake in Clean Energy Fuels by 458.4% in the first quarter. AQR Capital Management LLC now owns 407,394 shares of the utilities provider’s stock valued at $631,000 after acquiring an additional 334,437 shares in the last quarter. Empowered Funds LLC acquired a new position in shares of Clean Energy Fuels during the first quarter worth $579,000. Jane Street Group LLC increased its position in shares of Clean Energy Fuels by 13.5% during the first quarter. Jane Street Group LLC now owns 365,564 shares of the utilities provider’s stock worth $567,000 after purchasing an additional 43,384 shares in the last quarter. Creative Planning lifted its holdings in shares of Clean Energy Fuels by 72.4% during the 2nd quarter. Creative Planning now owns 53,339 shares of the utilities provider’s stock valued at $104,000 after purchasing an additional 22,400 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of Clean Energy Fuels by 6.0% during the 2nd quarter. Franklin Resources Inc. now owns 126,655 shares of the utilities provider’s stock valued at $247,000 after purchasing an additional 7,142 shares during the last quarter. 49.94% of the stock is owned by hedge funds and other institutional investors.

Clean Energy Fuels Company Profile

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.