KLP Kapitalforvaltning AS Buys Shares of 29,800 Clean Energy Fuels Corp. (NASDAQ:CLNE)

KLP Kapitalforvaltning AS purchased a new stake in shares of Clean Energy Fuels Corp. (NASDAQ:CLNE) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 29,800 shares of the utilities provider’s stock, valued at approximately $75,000.

Other institutional investors have also modified their holdings of the company. Cibc World Markets Corp acquired a new stake in Clean Energy Fuels in the 4th quarter valued at about $40,000. Versor Investments LP acquired a new position in Clean Energy Fuels during the fourth quarter worth about $45,000. Orion Portfolio Solutions LLC purchased a new stake in shares of Clean Energy Fuels in the third quarter valued at about $66,000. Grassi Investment Management grew its position in shares of Clean Energy Fuels by 74.1% in the fourth quarter. Grassi Investment Management now owns 23,500 shares of the utilities provider’s stock valued at $59,000 after purchasing an additional 10,000 shares during the last quarter. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Clean Energy Fuels in the fourth quarter valued at approximately $63,000. Hedge funds and other institutional investors own 49.94% of the company’s stock.

Clean Energy Fuels Stock Up 1.4 %

Shares of NASDAQ CLNE opened at $1.49 on Friday. The firm has a market cap of $333.17 million, a P/E ratio of -4.81 and a beta of 2.48. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.74 and a current ratio of 3.06. Clean Energy Fuels Corp. has a 1 year low of $1.30 and a 1 year high of $3.67. The firm’s 50 day moving average price is $2.11 and its 200 day moving average price is $2.62.

Clean Energy Fuels (NASDAQ:CLNE) last announced its quarterly earnings data on Monday, February 24th. The utilities provider reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.04. The business had revenue of $109.33 million during the quarter, compared to the consensus estimate of $102.60 million. Clean Energy Fuels had a negative return on equity of 7.59% and a negative net margin of 17.32%. During the same quarter in the previous year, the business earned $0.01 earnings per share. As a group, sell-side analysts anticipate that Clean Energy Fuels Corp. will post -0.33 earnings per share for the current year.

Insider Buying and Selling at Clean Energy Fuels

In other news, CFO Robert M. Vreeland purchased 15,000 shares of the stock in a transaction on Wednesday, February 26th. The stock was purchased at an average price of $1.94 per share, with a total value of $29,100.00. Following the completion of the transaction, the chief financial officer now owns 458,800 shares in the company, valued at approximately $890,072. The trade was a 3.38 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders acquired 35,000 shares of company stock worth $64,100 in the last 90 days. 3.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

CLNE has been the subject of several research reports. Raymond James restated a “strong-buy” rating and set a $4.00 price objective (down from $5.00) on shares of Clean Energy Fuels in a research report on Tuesday, February 25th. Scotiabank cut their price target on Clean Energy Fuels from $6.00 to $4.00 and set a “sector outperform” rating for the company in a report on Friday. Finally, StockNews.com lowered Clean Energy Fuels from a “hold” rating to a “sell” rating in a research note on Wednesday, February 26th.

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.