Holderness Investments Co. Grows Position in Clean Energy Fuels Corp. (NASDAQ:CLNE)

Holderness Investments Co. boosted its holdings in Clean Energy Fuels Corp. (NASDAQ:CLNE) by 22.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 52,596 shares of the utilities provider’s stock after buying an additional 9,600 shares during the quarter. Holderness Investments Co.’s holdings in Clean Energy Fuels were worth $132,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Cibc World Markets Corp purchased a new position in shares of Clean Energy Fuels during the fourth quarter valued at approximately $40,000. Point72 DIFC Ltd purchased a new stake in Clean Energy Fuels during the 3rd quarter valued at $41,000. Zacks Investment Management bought a new position in shares of Clean Energy Fuels during the 3rd quarter valued at $42,000. Versor Investments LP purchased a new position in shares of Clean Energy Fuels in the 4th quarter worth $45,000. Finally, Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of Clean Energy Fuels by 235.2% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 18,427 shares of the utilities provider’s stock worth $57,000 after acquiring an additional 12,929 shares during the period. Institutional investors own 49.94% of the company’s stock.

Insider Activity at Clean Energy Fuels

In related news, CFO Robert M. Vreeland acquired 15,000 shares of the firm’s stock in a transaction on Wednesday, February 26th. The shares were acquired at an average cost of $1.94 per share, for a total transaction of $29,100.00. Following the completion of the transaction, the chief financial officer now directly owns 458,800 shares in the company, valued at approximately $890,072. This trade represents a 3.38 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.60% of the stock is currently owned by corporate insiders.

Clean Energy Fuels Stock Down 4.6 %

NASDAQ CLNE opened at $1.67 on Friday. Clean Energy Fuels Corp. has a 52 week low of $1.62 and a 52 week high of $3.67. 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 company has a market capitalization of $373.42 million, a P/E ratio of -5.39 and a beta of 2.35. The stock’s 50-day moving average price is $2.62 and its 200-day moving average price is $2.78.

Clean Energy Fuels (NASDAQ:CLNE) last issued its quarterly earnings results on Monday, February 24th. The utilities provider reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.04. The business had revenue of $109.33 million for the quarter, compared to the consensus estimate of $102.60 million. Clean Energy Fuels had a negative net margin of 17.32% and a negative return on equity of 7.59%. During the same quarter in the previous year, the firm earned $0.01 earnings per share. On average, equities research analysts predict that Clean Energy Fuels Corp. will post -0.33 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on CLNE. Raymond James reissued a “strong-buy” rating and issued a $4.00 target price (down from $5.00) on shares of Clean Energy Fuels in a research report on Tuesday, February 25th. StockNews.com lowered shares of Clean Energy Fuels from a “hold” rating to a “sell” rating in a research report on Wednesday, February 26th.

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.