Geode Capital Management LLC Buys 126,760 Shares of Clean Energy Fuels Corp. (NASDAQ:CLNE)

Geode Capital Management LLC lifted its stake in shares of Clean Energy Fuels Corp. (NASDAQ:CLNE) by 3.1% in the third quarter, HoldingsChannel.com reports. The fund owned 4,203,217 shares of the utilities provider’s stock after acquiring an additional 126,760 shares during the quarter. Geode Capital Management LLC’s holdings in Clean Energy Fuels were worth $13,075,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CLNE. SIR Capital Management L.P. lifted its holdings in shares of Clean Energy Fuels by 9.8% during the 2nd quarter. SIR Capital Management L.P. now owns 2,764,529 shares of the utilities provider’s stock worth $7,381,000 after acquiring an additional 246,600 shares during the last quarter. Barclays PLC lifted its stake 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 last quarter. Inspire Investing LLC bought a new stake in Clean Energy Fuels in the third quarter worth $411,000. HITE Hedge Asset Management LLC lifted its stake in Clean Energy Fuels by 26.8% in the third quarter. HITE Hedge Asset Management LLC now owns 603,533 shares of the utilities provider’s stock worth $1,877,000 after purchasing an additional 127,712 shares during the last quarter. Finally, Jane Street Group LLC lifted its stake in Clean Energy Fuels by 52.8% in the third quarter. Jane Street Group LLC now owns 363,086 shares of the utilities provider’s stock worth $1,129,000 after purchasing an additional 125,404 shares during the last quarter. 49.94% of the stock is owned by institutional investors.

Clean Energy Fuels Price Performance

CLNE stock opened at $2.49 on Tuesday. The firm’s 50-day moving average price is $2.82 and its two-hundred day moving average price is $2.82. Clean Energy Fuels Corp. has a 12-month low of $2.17 and a 12-month high of $3.94. The stock has a market capitalization of $556.41 million, a price-to-earnings ratio of -8.03 and a beta of 2.14. The company has a current ratio of 3.06, a quick ratio of 2.74 and a debt-to-equity ratio of 0.36.

Clean Energy Fuels (NASDAQ:CLNE) last released its quarterly earnings data on Wednesday, November 6th. The utilities provider reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $100.64 million. During the same quarter in the previous year, the company earned ($0.12) earnings per share. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. As a group, equities analysts predict that Clean Energy Fuels Corp. will post -0.33 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Scotiabank boosted their price target on shares of Clean Energy Fuels from $5.00 to $6.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, September 3rd. StockNews.com raised shares of Clean Energy Fuels from a “sell” rating to a “hold” rating in a research note on Tuesday, December 24th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Clean Energy Fuels presently has an average rating of “Buy” and a consensus price target 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.