White Pine Capital LLC Sells 8,323 Shares of Clean Energy Fuels Corp. (NASDAQ:CLNE)

White Pine Capital LLC trimmed its stake in shares of Clean Energy Fuels Corp. (NASDAQ:CLNE) by 2.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 314,468 shares of the utilities provider’s stock after selling 8,323 shares during the quarter. White Pine Capital LLC’s holdings in Clean Energy Fuels were worth $1,204,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CLNE. Schonfeld Strategic Advisors LLC bought a new stake in shares of Clean Energy Fuels during the 3rd quarter valued at $6,997,000. Assenagon Asset Management S.A. bought a new stake in shares of Clean Energy Fuels during the 4th quarter valued at $1,566,000. Rice Hall James & Associates LLC grew its position in Clean Energy Fuels by 25.6% during the third quarter. Rice Hall James & Associates LLC now owns 1,169,170 shares of the utilities provider’s stock worth $4,478,000 after buying an additional 238,165 shares in the last quarter. Manatuck Hill Partners LLC purchased a new position in Clean Energy Fuels during the third quarter worth about $555,000. Finally, Kestra Advisory Services LLC purchased a new position in Clean Energy Fuels during the third quarter worth about $298,000. 49.94% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on CLNE. Raymond James reduced their target price on Clean Energy Fuels from $6.00 to $5.00 and set a “strong-buy” rating for the company in a research report on Wednesday, April 3rd. StockNews.com upgraded Clean Energy Fuels to a “sell” rating in a research report on Tuesday, April 9th. Stifel Nicolaus reduced their target price on Clean Energy Fuels from $8.00 to $6.50 and set a “buy” rating for the company in a research report on Tuesday, January 23rd. Piper Sandler cut their price objective on Clean Energy Fuels from $7.00 to $4.00 and set an “overweight” rating for the company in a report on Thursday, April 18th. Finally, Scotiabank cut their price objective on Clean Energy Fuels from $6.00 to $5.00 and set a “sector outperform” rating for the company in a report on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $5.60.

Clean Energy Fuels Price Performance

Shares of CLNE traded up $0.18 during midday trading on Friday, reaching $2.43. The stock had a trading volume of 2,003,019 shares, compared to its average volume of 1,497,383. The company’s 50-day moving average is $2.60 and its 200 day moving average is $3.18. Clean Energy Fuels Corp. has a 12-month low of $2.17 and a 12-month high of $5.25. The company has a current ratio of 2.87, a quick ratio of 2.59 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $542.52 million, a price-to-earnings ratio of -5.52 and a beta of 2.06.

Clean Energy Fuels (NASDAQ:CLNE) last issued its earnings results on Tuesday, February 27th. The utilities provider reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.02. The company had revenue of $106.86 million during the quarter, compared to analysts’ expectations of $106.50 million. Clean Energy Fuels had a negative return on equity of 14.05% and a negative net margin of 23.40%. On average, equities analysts predict that Clean Energy Fuels Corp. will post -0.44 EPS for the current fiscal year.

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.