Victory Capital Management Inc. Decreases Stock Holdings in Clean Energy Fuels Corp. (NASDAQ:CLNE)

Victory Capital Management Inc. reduced its position in shares of Clean Energy Fuels Corp. (NASDAQ:CLNE) by 94.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,252 shares of the utilities provider’s stock after selling 339,959 shares during the period. Victory Capital Management Inc.’s holdings in Clean Energy Fuels were worth $57,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Tidal Investments LLC bought a new position in Clean Energy Fuels during the 1st quarter valued at approximately $33,000. Grassi Investment Management purchased a new stake in Clean Energy Fuels in the first quarter worth $36,000. Pinnacle Wealth Planning Services Inc. bought a new stake in Clean Energy Fuels in the first quarter valued at $52,000. CANADA LIFE ASSURANCE Co boosted its holdings in Clean Energy Fuels by 30.6% in the first quarter. CANADA LIFE ASSURANCE Co now owns 44,569 shares of the utilities provider’s stock valued at $119,000 after acquiring an additional 10,437 shares in the last quarter. Finally, Brown Advisory Inc. increased its position in Clean Energy Fuels by 24.3% during the 4th quarter. Brown Advisory Inc. now owns 49,736 shares of the utilities provider’s stock valued at $190,000 after purchasing an additional 9,736 shares during the period. 49.94% of the stock is currently owned by hedge funds and other institutional investors.

Clean Energy Fuels Stock Performance

Shares of Clean Energy Fuels stock opened at $3.12 on Wednesday. The business has a fifty day simple moving average of $2.91 and a two-hundred day simple moving average of $2.68. The firm has a market capitalization of $696.58 million, a P/E ratio of -8.91 and a beta of 2.12. The company has a current ratio of 3.17, a quick ratio of 2.82 and a debt-to-equity ratio of 0.36. Clean Energy Fuels Corp. has a 12 month low of $2.17 and a 12 month high of $4.14.

Clean Energy Fuels (NASDAQ:CLNE) last issued its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.05. The company had revenue of $97.95 million during the quarter, compared to analysts’ expectations of $106.45 million. Clean Energy Fuels had a negative net margin of 19.61% and a negative return on equity of 8.75%. Clean Energy Fuels’s revenue was up 8.2% on a year-over-year basis. During the same period last year, the company posted ($0.07) EPS. On average, equities analysts forecast that Clean Energy Fuels Corp. will post -0.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CLNE has been the subject of several research analyst reports. StockNews.com raised shares of Clean Energy Fuels to a “sell” rating in a research report on Wednesday, August 14th. Scotiabank raised their price objective on shares of Clean Energy Fuels from $5.00 to $6.00 and gave the stock a “sector outperform” rating in a report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Clean Energy Fuels currently has an average rating of “Moderate Buy” and an average price target of $5.38.

Clean Energy Fuels 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.