Quadrature Capital Ltd Increases Position in Clean Energy Fuels Corp. (NASDAQ:CLNE)

Quadrature Capital Ltd increased its stake in Clean Energy Fuels Corp. (NASDAQ:CLNE – Get Rating) by 181.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 48,383 shares of the utilities provider’s stock after acquiring an additional 31,167 shares during the period. Quadrature Capital Ltd’s holdings in Clean Energy Fuels were worth $258,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quantamental Technologies LLC purchased a new position in Clean Energy Fuels in the second quarter worth $45,000. Mackenzie Financial Corp bought a new stake in Clean Energy Fuels in the second quarter worth $48,000. Cambridge Trust Co. lifted its stake in Clean Energy Fuels by 33.3% in the third quarter. Cambridge Trust Co. now owns 10,000 shares of the utilities provider’s stock worth $53,000 after purchasing an additional 2,500 shares during the last quarter. Arete Wealth Advisors LLC bought a new stake in Clean Energy Fuels in the third quarter worth $64,000. Finally, Pictet Asset Management SA bought a new stake in Clean Energy Fuels in the third quarter worth $77,000. 46.43% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on CLNE shares. UBS Group started coverage on shares of Clean Energy Fuels in a research note on Tuesday, December 13th. They issued a “buy” rating and a $12.00 price target for the company. Piper Sandler started coverage on shares of Clean Energy Fuels in a research note on Monday, February 27th. They issued an “overweight” rating and a $8.00 price target for the company. Lake Street Capital lowered their price objective on shares of Clean Energy Fuels from $27.00 to $22.00 in a research note on Wednesday, March 1st. TD Cowen lowered their price objective on shares of Clean Energy Fuels from $7.00 to $5.50 and set a “market perform” rating for the company in a research note on Monday, March 6th. Finally, StockNews.com downgraded shares of Clean Energy Fuels from a “hold” rating to a “sell” rating in a research note on Wednesday, March 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Clean Energy Fuels has an average rating of “Moderate Buy” and a consensus price target of $11.00.

Clean Energy Fuels Price Performance

CLNE stock opened at $4.41 on Tuesday. Clean Energy Fuels Corp. has a 1 year low of $4.02 and a 1 year high of $8.65. The company has a market cap of $982.23 million, a P/E ratio of -16.33 and a beta of 2.19. The firm has a 50-day moving average of $5.45 and a 200 day moving average of $5.89. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.18 and a quick ratio of 2.93.

Insider Buying and Selling

In related news, SVP Barclay Corbus sold 5,643 shares of the stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $5.69, for a total value of $32,108.67. Following the completion of the transaction, the senior vice president now directly owns 624,458 shares of the company’s stock, valued at $3,553,166.02. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Clean Energy Fuels news, SVP Barclay Corbus sold 5,643 shares of the company’s stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $5.69, for a total value of $32,108.67. Following the sale, the senior vice president now owns 624,458 shares in the company, valued at $3,553,166.02. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Mitchell W. Pratt sold 8,140 shares of the company’s stock in a transaction dated Monday, January 23rd. The stock was sold at an average price of $5.57, for a total transaction of $45,339.80. Following the completion of the sale, the chief operating officer now owns 854,313 shares in the company, valued at approximately $4,758,523.41. The disclosure for this sale can be found here. Insiders sold a total of 25,069 shares of company stock valued at $139,409 over the last three months. Corporate insiders own 3.40% of the company’s stock.

About Clean Energy Fuels

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Clean Energy Fuels Corp. engages in the provision of natural gas as an alternative fuel for vehicle fleets in the United States and Canada. It also builds and operates compressed natural gas (CNG) and liquefied natural gas (LNG) vehicle fueling stations, manufactures CNG and LNG equipment and technologies, and delivers CNG and LNG vehicle fuel.