SIR Capital Management L.P. Purchases Shares of 2,103,095 Clean Energy Fuels Corp. $CLNE

SIR Capital Management L.P. purchased a new stake in Clean Energy Fuels Corp. (NASDAQ:CLNE) in the 2nd quarter, HoldingsChannel reports. The fund purchased 2,103,095 shares of the utilities provider’s stock, valued at approximately $4,311,000.

Other hedge funds also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership bought a new stake in Clean Energy Fuels in the first quarter valued at approximately $3,160,000. J. Derek Lewis & Associates Inc. bought a new position in Clean Energy Fuels during the 4th quarter worth approximately $3,915,000. Hsbc Holdings PLC lifted its position in shares of Clean Energy Fuels by 49.3% in the 1st quarter. Hsbc Holdings PLC now owns 450,278 shares of the utilities provider’s stock worth $1,126,000 after purchasing an additional 148,700 shares during the period. Chicago Partners Investment Group LLC acquired a new position in shares of Clean Energy Fuels in the 1st quarter worth approximately $49,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Clean Energy Fuels in the 1st quarter valued at $43,000. 49.94% of the stock is currently owned by institutional investors.

Clean Energy Fuels Trading Down 1.9%

Shares of Clean Energy Fuels stock opened at $1.59 on Tuesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.15 and a current ratio of 2.48. Clean Energy Fuels Corp. has a 52 week low of $1.54 and a 52 week high of $3.11. The stock has a 50 day moving average price of $1.93 and a two-hundred day moving average price of $2.15. The stock has a market capitalization of $350.17 million, a PE ratio of -3.61 and a beta of 1.85.

Clean Energy Fuels (NASDAQ:CLNE) last released its quarterly earnings data on Thursday, August 6th. The utilities provider reported ($0.01) EPS for the quarter, meeting the consensus estimate of ($0.01). Clean Energy Fuels had a negative return on equity of 16.52% and a negative net margin of 21.27%.The firm had revenue of $106.36 million during the quarter, compared to the consensus estimate of $111.27 million. The company’s quarterly revenue was up 3.7% on a year-over-year basis. As a group, equities analysts anticipate that Clean Energy Fuels Corp. will post -0.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CLNE has been the subject of several recent analyst reports. Raymond James Financial reiterated a “strong-buy” rating and set a $2.50 price objective on shares of Clean Energy Fuels in a research report on Tuesday, August 18th. UBS Group lowered shares of Clean Energy Fuels from a “buy” rating to a “hold” rating and set a $2.75 target price on the stock. in a report on Friday, July 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Clean Energy Fuels in a research report on Friday, July 17th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $1.90 price target on shares of Clean Energy Fuels in a report on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $2.38.

About Clean Energy Fuels

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.