Verition Fund Management LLC Trims Holdings in Clean Energy Fuels Corp. (NASDAQ:CLNE)

Verition Fund Management LLC lowered its position in Clean Energy Fuels Corp. (NASDAQ:CLNE) by 73.9% during the third quarter, Holdings Channel.com reports. The institutional investor owned 23,955 shares of the utilities provider’s stock after selling 67,763 shares during the period. Verition Fund Management LLC’s holdings in Clean Energy Fuels were worth $74,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. SG Americas Securities LLC lifted its stake in Clean Energy Fuels by 411.7% during the 2nd quarter. SG Americas Securities LLC now owns 149,943 shares of the utilities provider’s stock valued at $400,000 after acquiring an additional 120,639 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Clean Energy Fuels by 11.6% during the second quarter. Bank of New York Mellon Corp now owns 642,202 shares of the utilities provider’s stock worth $1,715,000 after purchasing an additional 66,523 shares during the last quarter. Rhumbline Advisers lifted its position in Clean Energy Fuels by 2.4% during the second quarter. Rhumbline Advisers now owns 292,747 shares of the utilities provider’s stock valued at $782,000 after purchasing an additional 6,989 shares during the period. Los Angeles Capital Management LLC purchased a new stake in Clean Energy Fuels in the second quarter valued at $317,000. Finally, SIR Capital Management L.P. grew its position in 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 purchasing an additional 246,600 shares during the period. Hedge funds and other institutional investors own 49.94% of the company’s stock.

Clean Energy Fuels Stock Performance

CLNE opened at $2.71 on Wednesday. The company has a market cap of $605.57 million, a price-to-earnings ratio of -8.74 and a beta of 2.14. The firm’s fifty day simple moving average is $2.88 and its two-hundred day simple moving average is $2.85. The company has a quick ratio of 2.74, a current ratio of 3.06 and a debt-to-equity ratio of 0.36. Clean Energy Fuels Corp. has a 52-week low of $2.17 and a 52-week high of $4.13.

Clean Energy Fuels (NASDAQ:CLNE) last posted its quarterly earnings data 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. 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 for the quarter, compared to analysts’ expectations of $100.64 million. During the same period in the previous year, the firm posted ($0.12) EPS. Clean Energy Fuels’s revenue was up 9.7% compared to the same quarter last year. Equities analysts anticipate that Clean Energy Fuels Corp. will post -0.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on CLNE. Scotiabank raised their target price on Clean Energy Fuels from $5.00 to $6.00 and gave the stock a “sector outperform” rating in a report on Tuesday, September 3rd. StockNews.com lowered Clean Energy Fuels from a “hold” rating to a “sell” rating in a research report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Clean Energy Fuels currently has a consensus rating of “Moderate 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.