Clean Energy Fuels (NASDAQ:CLNE) Sets New 1-Year High – Here’s What Happened

Clean Energy Fuels Corp. (NASDAQ:CLNE)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $3.49 and last traded at $3.45, with a volume of 3887304 shares trading hands. The stock had previously closed at $3.10.

Analyst Ratings Changes

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

Clean Energy Fuels Stock Performance

The stock has a 50 day moving average price of $2.85 and a two-hundred day moving average price of $2.89. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.06 and a quick ratio of 2.74. The company has a market capitalization of $770.94 million, a price-to-earnings ratio of -11.13 and a beta of 2.18.

Clean Energy Fuels (NASDAQ:CLNE) last posted its quarterly earnings data on Wednesday, November 6th. The utilities provider reported $0.02 earnings per share for the quarter, beating 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 firm had revenue of $104.90 million during the quarter, compared to analysts’ expectations of $100.64 million. During the same quarter last year, the company posted ($0.12) EPS. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. On average, analysts predict that Clean Energy Fuels Corp. will post -0.33 EPS for the current fiscal year.

Institutional Trading of Clean Energy Fuels

Several hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its position in Clean Energy Fuels by 309.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 730,218 shares of the utilities provider’s stock valued at $2,271,000 after buying an additional 551,896 shares during the last quarter. Barclays PLC increased its position in Clean Energy Fuels by 252.1% in 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 during the 3rd quarter worth about $411,000. HITE Hedge Asset Management LLC lifted its position in Clean Energy Fuels by 26.8% during the 3rd quarter. HITE Hedge Asset Management LLC now owns 603,533 shares of the utilities provider’s stock valued at $1,877,000 after purchasing an additional 127,712 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Clean Energy Fuels by 3.1% in the 3rd quarter. Geode Capital Management LLC now owns 4,203,217 shares of the utilities provider’s stock valued at $13,075,000 after purchasing an additional 126,760 shares during the last quarter. 49.94% of the stock is owned by institutional investors.

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.