Clean Energy Fuels (NASDAQ:CLNE) Trading Up 8% – Time to Buy?

Clean Energy Fuels Corp. (NASDAQ:CLNE) shot up 8% during mid-day trading on Friday . The stock traded as high as $2.85 and last traded at $2.84. 956,435 shares traded hands during mid-day trading, a decline of 54% from the average session volume of 2,091,877 shares. The stock had previously closed at $2.63.

Wall Street Analyst Weigh In

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

Clean Energy Fuels Trading Up 9.1 %

The business has a 50-day moving average of $2.80 and a 200 day moving average of $2.82. The stock has a market cap of $641.32 million, a PE ratio of -9.26 and a beta of 2.16. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.74 and a current ratio of 3.06.

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. SIR Capital Management L.P. lifted its holdings in shares of Clean Energy Fuels by 9.8% during 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 period. BNP Paribas Financial Markets increased its position in Clean Energy Fuels by 167.4% during the third quarter. BNP Paribas Financial Markets now owns 37,224 shares of the utilities provider’s stock worth $116,000 after purchasing an additional 23,301 shares during the last quarter. Barclays PLC raised its stake in Clean Energy Fuels by 252.1% during the third quarter. Barclays PLC now owns 266,104 shares of the utilities provider’s stock worth $828,000 after purchasing an additional 190,520 shares during the period. State Street Corp boosted its holdings in shares of Clean Energy Fuels by 0.5% in the 3rd quarter. State Street Corp now owns 5,923,358 shares of the utilities provider’s stock valued at $18,422,000 after purchasing an additional 31,602 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Clean Energy Fuels by 21.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 65,841 shares of the utilities provider’s stock valued at $205,000 after buying an additional 11,534 shares during the period. Hedge funds and other institutional investors own 49.94% of the company’s stock.

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.