Clean Energy Fuels (NASDAQ:CLNE) Trading Up 7.9% – Here’s What Happened

Clean Energy Fuels Corp. (NASDAQ:CLNE) was up 7.9% during trading on Tuesday . The stock traded as high as $3.31 and last traded at $3.35. Approximately 479,079 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 2,718,174 shares. The stock had previously closed at $3.10.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Clean Energy Fuels from a “sell” rating to a “hold” rating in a research report on Tuesday.

Clean Energy Fuels Trading Up 11.5 %

The stock has a fifty day moving average of $2.85 and a 200 day moving average of $2.89. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.74 and a current ratio of 3.06. The company has a market capitalization of $772.05 million, a PE ratio of -11.18 and a beta of 2.18.

Clean Energy Fuels (NASDAQ:CLNE) last announced its quarterly earnings results on Wednesday, November 6th. The utilities provider reported $0.02 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $100.64 million. During the same quarter in the previous year, the business posted ($0.12) earnings per share. Clean Energy Fuels’s quarterly revenue was up 9.7% on a year-over-year basis. As a group, sell-side analysts predict that Clean Energy Fuels Corp. will post -0.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Clean Energy Fuels

Several large investors have recently bought and sold shares of CLNE. The Manufacturers Life Insurance Company boosted its stake in Clean Energy Fuels by 10.5% during the second quarter. The Manufacturers Life Insurance Company now owns 69,853 shares of the utilities provider’s stock worth $187,000 after buying an additional 6,637 shares during the period. FMR LLC boosted its stake in Clean Energy Fuels by 14.8% during the third quarter. FMR LLC now owns 53,546 shares of the utilities provider’s stock worth $167,000 after buying an additional 6,884 shares during the period. Rhumbline Advisers boosted its stake in Clean Energy Fuels by 3.2% during the fourth quarter. Rhumbline Advisers now owns 279,006 shares of the utilities provider’s stock worth $700,000 after buying an additional 8,731 shares during the period. IMC Chicago LLC boosted its stake in Clean Energy Fuels by 7.4% during the fourth quarter. IMC Chicago LLC now owns 131,122 shares of the utilities provider’s stock worth $329,000 after buying an additional 9,021 shares during the period. Finally, Eastern Bank purchased a new position in Clean Energy Fuels during the third quarter worth $31,000. Institutional investors 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.