Clean Energy Fuels (CLNE) Stock Price Up 9.1%

Clean Energy Fuels Corp (NASDAQ:CLNE) rose 9.1% on Thursday . The stock traded as high as $2.73 and last traded at $2.64. Approximately 1,804,411 shares changed hands during mid-day trading, an increase of 20% from the average daily volume of 1,500,723 shares. The stock had previously closed at $2.42.

CLNE has been the subject of several research analyst reports. BidaskClub raised Clean Energy Fuels from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 23rd. ValuEngine raised Clean Energy Fuels from a “sell” rating to a “hold” rating in a report on Tuesday, October 2nd.

The company has a debt-to-equity ratio of 0.23, a current ratio of 2.13 and a quick ratio of 1.93. The company has a market capitalization of $492.38 million, a P/E ratio of -4.57 and a beta of 1.74.

Clean Energy Fuels (NASDAQ:CLNE) last released its quarterly earnings results on Wednesday, November 7th. The utilities provider reported ($0.05) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.05). Clean Energy Fuels had a negative return on equity of 7.55% and a negative net margin of 11.49%. The business had revenue of $77.32 million during the quarter, compared to analysts’ expectations of $85.50 million. Analysts forecast that Clean Energy Fuels Corp will post -0.1 earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the company. Millennium Management LLC raised its stake in shares of Clean Energy Fuels by 27.6% during the first quarter. Millennium Management LLC now owns 1,282,388 shares of the utilities provider’s stock worth $2,116,000 after purchasing an additional 277,147 shares during the last quarter. Price Capital Management Inc. purchased a new stake in shares of Clean Energy Fuels during the second quarter worth approximately $756,000. BlackRock Inc. raised its stake in shares of Clean Energy Fuels by 5.7% during the second quarter. BlackRock Inc. now owns 8,826,283 shares of the utilities provider’s stock worth $32,568,000 after purchasing an additional 479,063 shares during the last quarter. Metropolitan Life Insurance Co. NY purchased a new stake in shares of Clean Energy Fuels during the second quarter worth approximately $180,000. Finally, MetLife Investment Advisors LLC purchased a new stake in shares of Clean Energy Fuels during the second quarter worth approximately $254,000. Institutional investors and hedge funds own 25.13% of the company’s stock.

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About Clean Energy Fuels (NASDAQ:CLNE)

Clean Energy Fuels Corp. provides natural gas as an alternative fuel for vehicle fleets in the United States and Canada. The company supplies renewable natural gas (RNG), compressed natural gas (CNG), and liquefied natural gas (LNG) for light, medium, and heavy-duty vehicles; and provides operation and maintenance services for vehicle fleet customer stations.

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