Clean Energy Fuels (NASDAQ:CLNE) Trading 8% Higher – Time to Buy?

Clean Energy Fuels Corp. (NASDAQ:CLNE) traded up 8% on Friday . The stock traded as high as $2.85 and last traded at $2.84. 956,435 shares traded hands during trading, a decline of 54% from the average session volume of 2,091,877 shares. The stock had previously closed at $2.63.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Clean Energy Fuels from a “sell” rating to a “hold” rating in a research report on Tuesday, December 24th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Clean Energy Fuels has a consensus rating of “Buy” and a consensus price target of $5.38.

Clean Energy Fuels Trading Up 9.1 %

The company has a current ratio of 3.06, a quick ratio of 2.74 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $641.32 million, a PE ratio of -9.26 and a beta of 2.16. The business has a 50 day moving average price of $2.80 and a 200-day moving average price of $2.82.

Clean Energy Fuels (NASDAQ:CLNE) last released its earnings results on Wednesday, November 6th. The utilities provider reported $0.02 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $104.90 million during the quarter, compared to the consensus estimate of $100.64 million. During the same quarter last year, the company earned ($0.12) earnings per share. Clean Energy Fuels’s quarterly revenue was up 9.7% compared to the same quarter last year. Analysts expect that Clean Energy Fuels Corp. will post -0.33 earnings per share for the current year.

Institutional Trading of Clean Energy Fuels

A number of institutional investors have recently added to or reduced their stakes in CLNE. JPMorgan Chase & Co. lifted its position in shares of Clean Energy Fuels by 309.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 730,218 shares of the utilities provider’s stock valued at $2,271,000 after acquiring an additional 551,896 shares during the period. SIR Capital Management L.P. raised its holdings in Clean Energy Fuels by 9.8% during the second quarter. SIR Capital Management L.P. now owns 2,764,529 shares of the utilities provider’s stock worth $7,381,000 after purchasing an additional 246,600 shares during the last quarter. Barclays PLC boosted its position in Clean Energy Fuels by 252.1% during 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 in the last quarter. Inspire Investing LLC acquired a new stake in Clean Energy Fuels in the third quarter valued at $411,000. Finally, HITE Hedge Asset Management LLC raised its stake in shares of Clean Energy Fuels by 26.8% during the 3rd quarter. HITE Hedge Asset Management LLC now owns 603,533 shares of the utilities provider’s stock worth $1,877,000 after buying an additional 127,712 shares during the last quarter. Hedge funds and other institutional investors own 49.94% of the company’s stock.

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.