Clean Energy Fuels (NASDAQ:CLNE) Reaches New 52-Week High – Still a Buy?

Clean Energy Fuels Corp. (NASDAQ:CLNE) reached a new 52-week high on Thursday . The stock traded as high as $3.40 and last traded at $3.37, with a volume of 1149136 shares. The stock had previously closed at $3.26.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Clean Energy Fuels from a “hold” rating to a “sell” rating in a research note on Monday, January 27th.

Clean Energy Fuels Price Performance

The stock has a fifty day moving average of $2.85 and a 200-day moving average of $2.89. The company has a quick ratio of 2.74, a current ratio of 3.06 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $739.65 million, a P/E ratio of -10.68 and a beta of 2.16.

Clean Energy Fuels (NASDAQ:CLNE) last announced its earnings results on Wednesday, November 6th. The utilities provider reported $0.02 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $100.64 million. During the same period in the prior year, the business earned ($0.12) earnings per share. Clean Energy Fuels’s quarterly revenue was up 9.7% on a year-over-year basis. Equities analysts predict that Clean Energy Fuels Corp. will post -0.33 EPS for the current fiscal year.

Institutional Investors Weigh In On Clean Energy Fuels

Hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its stake in Clean Energy Fuels by 309.5% in the third quarter. JPMorgan Chase & Co. now owns 730,218 shares of the utilities provider’s stock valued at $2,271,000 after acquiring an additional 551,896 shares during the last quarter. Barclays PLC grew its stake in shares of 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. Inspire Investing LLC bought a new stake in Clean Energy Fuels in the third quarter valued at about $411,000. HITE Hedge Asset Management LLC lifted its stake in Clean Energy Fuels by 26.8% in the third quarter. HITE Hedge Asset Management LLC now owns 603,533 shares of the utilities provider’s stock valued at $1,877,000 after buying an additional 127,712 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Clean Energy Fuels by 3.1% during the third quarter. Geode Capital Management LLC now owns 4,203,217 shares of the utilities provider’s stock worth $13,075,000 after buying an additional 126,760 shares during the last quarter. 49.94% of the stock is owned by institutional investors and hedge funds.

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.