Clean Energy Fuels Corp. (NASDAQ:CLNE) Stake Decreased by Cim Investment Management Inc.

Cim Investment Management Inc. lessened its holdings in shares of Clean Energy Fuels Corp. (NASDAQ:CLNE) by 19.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,276 shares of the utilities provider’s stock after selling 7,903 shares during the period. Cim Investment Management Inc.’s holdings in Clean Energy Fuels were worth $89,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CLNE. Charles Schwab Investment Management Inc. raised its holdings in Clean Energy Fuels by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,367,278 shares of the utilities provider’s stock worth $5,237,000 after purchasing an additional 19,616 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in Clean Energy Fuels by 271.6% during the fourth quarter. BNP Paribas Financial Markets now owns 145,256 shares of the utilities provider’s stock worth $556,000 after purchasing an additional 106,162 shares in the last quarter. Grassi Investment Management bought a new stake in Clean Energy Fuels during the first quarter worth approximately $36,000. Iridian Asset Management LLC CT bought a new stake in Clean Energy Fuels during the first quarter worth approximately $392,000. Finally, Pinnacle Wealth Planning Services Inc. bought a new stake in Clean Energy Fuels during the first quarter worth approximately $52,000. Institutional investors own 49.94% of the company’s stock.

Clean Energy Fuels Price Performance

NASDAQ CLNE opened at $3.10 on Friday. The stock has a market capitalization of $692.12 million, a P/E ratio of -8.86 and a beta of 2.12. Clean Energy Fuels Corp. has a 1 year low of $2.17 and a 1 year high of $4.14. The business’s fifty day moving average is $2.93 and its two-hundred day moving average is $2.69. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.82 and a current ratio of 3.17.

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

Analyst Upgrades and Downgrades

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

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.