Bridgewater Associates LP Trims Stock Holdings in Clean Energy Fuels Corp. (NASDAQ:CLNE)

Bridgewater Associates LP lowered its position in Clean Energy Fuels Corp. (NASDAQ:CLNE) by 10.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 399,101 shares of the utilities provider’s stock after selling 47,641 shares during the quarter. Bridgewater Associates LP owned approximately 0.18% of Clean Energy Fuels worth $1,241,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Eastern Bank purchased a new stake in Clean Energy Fuels in the third quarter valued at approximately $31,000. Tidal Investments LLC purchased a new stake in Clean Energy Fuels in the first quarter valued at approximately $33,000. DRW Securities LLC purchased a new stake in Clean Energy Fuels in the second quarter valued at approximately $38,000. Algert Global LLC acquired a new position in shares of Clean Energy Fuels in the second quarter valued at approximately $45,000. Finally, MQS Management LLC acquired a new position in shares of Clean Energy Fuels in the third quarter valued at approximately $72,000. Hedge funds and other institutional investors own 49.94% of the company’s stock.

Clean Energy Fuels Trading Down 2.5 %

Shares of CLNE stock opened at $3.08 on Monday. The business’s fifty day moving average price is $2.93 and its 200 day moving average price is $2.84. Clean Energy Fuels Corp. has a 1-year low of $2.17 and a 1-year high of $4.13. The firm has a market capitalization of $688.26 million, a PE ratio of -9.94 and a beta of 2.12. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.06 and a quick ratio of 2.74.

Clean Energy Fuels (NASDAQ:CLNE) last posted its earnings results 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. The company had revenue of $104.90 million for the quarter, compared to analyst estimates of $100.64 million. Clean Energy Fuels had a negative return on equity of 7.59% and a negative net margin of 17.32%. Clean Energy Fuels’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.12) earnings per share. As a group, sell-side analysts forecast that Clean Energy Fuels Corp. will post -0.33 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. StockNews.com raised Clean Energy Fuels from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Scotiabank boosted their target price on Clean Energy Fuels from $5.00 to $6.00 and gave the company a “sector outperform” rating in a report on Tuesday, September 3rd. One analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $5.38.

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.