Wellington Management Group LLP Invests $280,000 in Clean Energy Fuels Corp. (NASDAQ:CLNE)

Wellington Management Group LLP purchased a new stake in shares of Clean Energy Fuels Corp. (NASDAQ:CLNE) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 90,042 shares of the utilities provider’s stock, valued at approximately $280,000.

Several other hedge funds have also added to or reduced their stakes in the company. Eastern Bank bought a new stake in Clean Energy Fuels during the 3rd quarter worth about $31,000. Point72 DIFC Ltd acquired a new stake in shares of Clean Energy Fuels during the 3rd quarter worth approximately $41,000. DRW Securities LLC bought a new stake in shares of Clean Energy Fuels during the second quarter worth approximately $38,000. Algert Global LLC acquired a new position in Clean Energy Fuels in the second quarter valued at approximately $45,000. Finally, Point72 Asia Singapore Pte. Ltd. boosted its stake in 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 valued at $57,000 after acquiring an additional 12,929 shares during the last quarter. Institutional investors own 49.94% of the company’s stock.

Clean Energy Fuels Trading Up 1.2 %

CLNE opened at $2.56 on Friday. The firm’s fifty day moving average is $2.86 and its two-hundred day moving average is $2.84. The firm has a market cap of $572.05 million, a PE ratio of -8.26 and a beta of 2.14. Clean Energy Fuels Corp. has a twelve month low of $2.17 and a twelve month high of $4.13. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.74 and a current ratio of 3.06.

Clean Energy Fuels (NASDAQ:CLNE) last issued its quarterly earnings data on Wednesday, November 6th. The utilities provider reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.04. Clean Energy Fuels had a negative return on equity of 7.59% and a negative net margin of 17.32%. The business had revenue of $104.90 million for the quarter, compared to the consensus estimate of $100.64 million. During the same quarter last year, the business posted ($0.12) EPS. The firm’s revenue was up 9.7% compared to the same quarter last year. Equities research analysts anticipate that Clean Energy Fuels Corp. will post -0.33 EPS for the current year.

Analyst Ratings Changes

CLNE has been the subject of several recent research reports. Scotiabank upped their target price on shares of Clean Energy Fuels from $5.00 to $6.00 and gave the company a “sector outperform” rating in a research report on Tuesday, September 3rd. StockNews.com downgraded Clean Energy Fuels from a “hold” rating to a “sell” rating in a report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Clean Energy Fuels has a consensus rating of “Moderate Buy” and an average price target of $5.38.

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.