Clean Energy Fuels (NASDAQ:CLNE) Shares Up 7.9% – Time to Buy?

Clean Energy Fuels Corp. (NASDAQ:CLNE)’s stock price rose 7.9% on Tuesday . The stock traded as high as $3.31 and last traded at $3.35. Approximately 479,079 shares were traded during 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 shares of Clean Energy Fuels from a “sell” rating to a “hold” rating in a research report on Tuesday.

Clean Energy Fuels Price Performance

The business’s 50 day moving average price is $2.87 and its 200-day moving average price is $2.90. 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 cap of $768.70 million, a PE ratio of -11.10 and a beta of 2.18.

Clean Energy Fuels (NASDAQ:CLNE) last released its quarterly earnings results on Wednesday, November 6th. The utilities provider reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.04. The firm had revenue of $104.90 million for 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 firm’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.12) EPS. As a group, analysts forecast that Clean Energy Fuels Corp. will post -0.33 earnings per share for the current year.

Hedge Funds Weigh In On Clean Energy Fuels

Institutional investors have recently made changes to their positions in the business. Sei Investments Co. acquired a new stake in shares of Clean Energy Fuels in the 2nd quarter valued at about $74,000. AQR Capital Management LLC raised its stake in Clean Energy Fuels by 49.1% during the second quarter. AQR Capital Management LLC now owns 234,235 shares of the utilities provider’s stock valued at $625,000 after buying an additional 77,170 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Clean Energy Fuels by 10.5% during the 2nd 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 last quarter. Algert Global LLC acquired a new position in shares of Clean Energy Fuels in the 2nd quarter worth approximately $45,000. Finally, SG Americas Securities LLC increased its holdings in shares of Clean Energy Fuels by 62.8% in the 3rd quarter. SG Americas Securities LLC now owns 244,105 shares of the utilities provider’s stock valued at $759,000 after acquiring an additional 94,162 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.