Clean Energy Fuels (NASDAQ:CLNE) Stock Price Up 6.9% – Here’s Why

Clean Energy Fuels Corp. (NASDAQ:CLNE)’s stock price rose 6.9% during trading on Friday . The company traded as high as $3.17 and last traded at $3.19. Approximately 2,496,491 shares were traded during trading, a decline of 7% from the average daily volume of 2,684,922 shares. The stock had previously closed at $2.98.

Analyst Ratings Changes

Separately, StockNews.com upgraded Clean Energy Fuels from a “sell” rating to a “hold” rating in a research report on Tuesday, December 24th.

Clean Energy Fuels Price Performance

The stock has a fifty day moving average price of $2.79 and a 200-day moving average price of $2.86. The company has a market cap of $703.89 million, a PE ratio of -10.16 and a beta of 2.16. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.06 and a quick ratio of 2.74.

Clean Energy Fuels (NASDAQ:CLNE) last released its earnings results on Wednesday, November 6th. The utilities provider reported $0.02 earnings per share (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 analyst estimates of $100.64 million. During the same quarter in the prior year, the company earned ($0.12) earnings per share. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. On average, equities analysts expect that Clean Energy Fuels Corp. will post -0.33 earnings per share for the current year.

Hedge Funds Weigh In On Clean Energy Fuels

Several hedge funds have recently bought and sold shares of CLNE. Barclays PLC boosted its holdings in Clean Energy Fuels by 252.1% during the third quarter. Barclays PLC now owns 266,104 shares of the utilities provider’s stock valued at $828,000 after acquiring an additional 190,520 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Clean Energy Fuels by 309.5% in the third quarter. JPMorgan Chase & Co. now owns 730,218 shares of the utilities provider’s stock valued at $2,271,000 after buying an additional 551,896 shares during the period. BNP Paribas Financial Markets lifted its stake in shares of Clean Energy Fuels by 167.4% in the third quarter. BNP Paribas Financial Markets now owns 37,224 shares of the utilities provider’s stock valued at $116,000 after buying an additional 23,301 shares during the period. State Street Corp lifted its stake in Clean Energy Fuels by 0.5% during the third quarter. State Street Corp now owns 5,923,358 shares of the utilities provider’s stock worth $18,422,000 after purchasing an additional 31,602 shares during the period. Finally, Jane Street Group LLC lifted its stake in Clean Energy Fuels by 52.8% during the third quarter. Jane Street Group LLC now owns 363,086 shares of the utilities provider’s stock worth $1,129,000 after purchasing an additional 125,404 shares during the period. 49.94% of the stock is owned by institutional investors and hedge funds.

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.