Clean Energy Fuels (NASDAQ:CLNE) CEO Acquires 14,000 Shares

Clean Energy Fuels Corp. (NASDAQ:CLNE) CEO Barclay Corbus purchased 14,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was bought at an average cost of $1.77 per share, with a total value of $24,780.00. Following the completion of the purchase, the chief executive officer owned 1,350,021 shares of the company’s stock, valued at $2,389,537.17. This represents a 1.05% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Clean Energy Fuels Stock Up 2.0%

Clean Energy Fuels stock traded up $0.04 during trading hours on Wednesday, hitting $1.76. 1,261,403 shares of the stock traded hands, compared to its average volume of 1,309,117. Clean Energy Fuels Corp. has a one year low of $1.66 and a one year high of $3.11. The firm’s 50-day moving average price is $2.09 and its two-hundred day moving average price is $2.24. The company has a current ratio of 2.46, a quick ratio of 2.14 and a debt-to-equity ratio of 0.41. The company has a market cap of $388.71 million, a PE ratio of -3.84 and a beta of 1.86.

Clean Energy Fuels (NASDAQ:CLNE) last announced its earnings results on Thursday, May 7th. The utilities provider reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.01. The firm had revenue of $117.56 million during the quarter, compared to analyst estimates of $102.62 million. Clean Energy Fuels had a negative return on equity of 14.04% and a negative net margin of 22.68%.The business’s revenue was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.01 EPS. On average, research analysts forecast that Clean Energy Fuels Corp. will post -0.31 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Clean Energy Fuels in a report on Monday, April 20th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Clean Energy Fuels has an average rating of “Hold” and an average target price of $2.48.

Institutional Trading of Clean Energy Fuels

Hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE increased its position in Clean Energy Fuels by 14.3% during the 1st quarter. Bank of America Corp DE now owns 351,180 shares of the utilities provider’s stock valued at $871,000 after buying an additional 43,940 shares in the last quarter. Amundi boosted its holdings in Clean Energy Fuels by 25.2% in the first quarter. Amundi now owns 95,723 shares of the utilities provider’s stock worth $237,000 after acquiring an additional 19,250 shares in the last quarter. Empowered Funds LLC grew its stake in shares of Clean Energy Fuels by 7.0% in the first quarter. Empowered Funds LLC now owns 1,075,824 shares of the utilities provider’s stock worth $2,668,000 after acquiring an additional 70,187 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Clean Energy Fuels by 10.5% during the first quarter. Renaissance Technologies LLC now owns 1,033,295 shares of the utilities provider’s stock valued at $2,563,000 after acquiring an additional 97,900 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of Clean Energy Fuels during the first quarter valued at $3,160,000. 49.94% of the stock is owned by institutional investors.

Clean Energy Fuels Company Profile

Clean Energy Fuels Corp., founded in 1997 and headquartered in Newport Beach, California, is a leading provider of natural gas and renewable natural gas (RNG) fuel for the transportation sector. The company operates a network of more than 500 fueling stations across the United States and Canada, supplying compressed natural gas (CNG), liquefied natural gas (LNG) and RNG derived from organic waste streams. Clean Energy serves a diverse customer base that includes commercial trucking fleets, public transit agencies, refuse haulers and municipal vehicle operators.

In addition to fuel supply, Clean Energy offers turnkey station design, construction and ongoing maintenance services, as well as fueling hardware and project management.