Mirae Asset Global Investments Co. Ltd. Sells 31,575 Shares of Clean Energy Fuels Corp. (NASDAQ:CLNE)

Mirae Asset Global Investments Co. Ltd. lowered its holdings in shares of Clean Energy Fuels Corp. (NASDAQ:CLNE) by 29.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 77,361 shares of the utilities provider’s stock after selling 31,575 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Clean Energy Fuels were worth $296,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Schonfeld Strategic Advisors LLC bought a new position in shares of Clean Energy Fuels during the 3rd quarter valued at $6,997,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Clean Energy Fuels by 2.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,347,662 shares of the utilities provider’s stock valued at $5,162,000 after purchasing an additional 34,908 shares in the last quarter. Rice Hall James & Associates LLC raised its holdings in shares of Clean Energy Fuels by 25.6% during the 3rd quarter. Rice Hall James & Associates LLC now owns 1,169,170 shares of the utilities provider’s stock valued at $4,478,000 after purchasing an additional 238,165 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Clean Energy Fuels during the 4th quarter valued at $1,566,000. Finally, Swiss National Bank raised its holdings in shares of Clean Energy Fuels by 1.0% during the 3rd quarter. Swiss National Bank now owns 392,058 shares of the utilities provider’s stock valued at $1,502,000 after purchasing an additional 3,800 shares in the last quarter. Institutional investors own 49.94% of the company’s stock.

Clean Energy Fuels Stock Performance

NASDAQ CLNE opened at $2.43 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.87 and a quick ratio of 2.59. The firm has a market capitalization of $542.52 million, a price-to-earnings ratio of -5.52 and a beta of 2.06. The company’s fifty day moving average is $2.60 and its two-hundred day moving average is $3.18. Clean Energy Fuels Corp. has a 52-week low of $2.17 and a 52-week high of $5.25.

Clean Energy Fuels (NASDAQ:CLNE) last posted its quarterly earnings results on Tuesday, February 27th. The utilities provider reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.02. The company had revenue of $106.86 million for the quarter, compared to analyst estimates of $106.50 million. Clean Energy Fuels had a negative net margin of 23.40% and a negative return on equity of 14.05%. Equities research analysts forecast that Clean Energy Fuels Corp. will post -0.44 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Raymond James dropped their target price on shares of Clean Energy Fuels from $6.00 to $5.00 and set a “strong-buy” rating on the stock in a report on Wednesday, April 3rd. Piper Sandler dropped their target price on shares of Clean Energy Fuels from $7.00 to $4.00 and set an “overweight” rating on the stock in a report on Thursday, April 18th. Stifel Nicolaus dropped their target price on shares of Clean Energy Fuels from $8.00 to $6.50 and set a “buy” rating on the stock in a report on Tuesday, January 23rd. Scotiabank dropped their target price on shares of Clean Energy Fuels from $6.00 to $5.00 and set a “sector outperform” rating on the stock in a report on Thursday, April 11th. Finally, StockNews.com upgraded shares of Clean Energy Fuels to a “sell” rating in a report on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $5.60.

Clean Energy Fuels Profile

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.