Clean Energy Fuels Corp. (NASDAQ:CLNE) Short Interest Update

Clean Energy Fuels Corp. (NASDAQ:CLNE) was the recipient of a large drop in short interest in the month of December. As of December 15th, there was short interest totalling 10,820,000 shares, a drop of 5.3% from the November 30th total of 11,420,000 shares. Based on an average daily trading volume, of 1,650,000 shares, the short-interest ratio is currently 6.6 days. Currently, 6.6% of the company’s stock are sold short.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Clean Energy Fuels from a “sell” rating to a “hold” rating in a research note on Tuesday, December 24th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Clean Energy Fuels currently has an average rating of “Buy” and an average price target of $5.38.

Clean Energy Fuels Price Performance

CLNE stock opened at $2.51 on Thursday. The company’s 50-day moving average price is $2.81 and its two-hundred day moving average price is $2.82. The firm has a market cap of $560.88 million, a P/E ratio of -8.10 and a beta of 2.14. The company has a quick ratio of 2.74, a current ratio of 3.06 and a debt-to-equity ratio of 0.36. Clean Energy Fuels has a 12 month low of $2.17 and a 12 month high of $3.94.

Clean Energy Fuels (NASDAQ:CLNE) last posted its quarterly earnings results on Wednesday, November 6th. The utilities provider reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.04. Clean Energy Fuels had a negative net margin of 17.32% and a negative return on equity of 7.59%. The company had revenue of $104.90 million for the quarter, compared to the consensus estimate of $100.64 million. During the same period last year, the company posted ($0.12) EPS. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. On average, analysts anticipate that Clean Energy Fuels will post -0.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp increased its stake in Clean Energy Fuels by 11.6% in the second quarter. Bank of New York Mellon Corp now owns 642,202 shares of the utilities provider’s stock valued at $1,715,000 after purchasing an additional 66,523 shares in the last quarter. Rhumbline Advisers raised its holdings in Clean Energy Fuels by 2.4% during the second quarter. Rhumbline Advisers now owns 292,747 shares of the utilities provider’s stock worth $782,000 after buying an additional 6,989 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Clean Energy Fuels during the second quarter worth about $317,000. SIR Capital Management L.P. raised its holdings in shares of Clean Energy Fuels by 9.8% in the 2nd quarter. SIR Capital Management L.P. now owns 2,764,529 shares of the utilities provider’s stock worth $7,381,000 after acquiring an additional 246,600 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in Clean Energy Fuels by 14.3% during the 2nd quarter. American Century Companies Inc. now owns 263,142 shares of the utilities provider’s stock valued at $703,000 after purchasing an additional 32,897 shares during the last quarter. Institutional investors and hedge funds own 49.94% of the company’s stock.

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.