Vanguard Group Inc. Reduces Stock Position in Clean Energy Fuels Corp. (NASDAQ:CLNE)

Vanguard Group Inc. decreased its position in Clean Energy Fuels Corp. (NASDAQ:CLNE) by 3.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,110,904 shares of the utilities provider’s stock after selling 355,409 shares during the quarter. Vanguard Group Inc. owned approximately 4.97% of Clean Energy Fuels worth $27,888,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. KLP Kapitalforvaltning AS bought a new stake in shares of Clean Energy Fuels in the fourth quarter worth about $75,000. American Century Companies Inc. grew its position in shares of Clean Energy Fuels by 11.8% in the 4th quarter. American Century Companies Inc. now owns 347,562 shares of the utilities provider’s stock worth $872,000 after buying an additional 36,729 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Clean Energy Fuels in the 4th quarter worth approximately $138,000. Holderness Investments Co. increased its stake in shares of Clean Energy Fuels by 22.3% during the fourth quarter. Holderness Investments Co. now owns 52,596 shares of the utilities provider’s stock valued at $132,000 after buying an additional 9,600 shares during the period. Finally, Intech Investment Management LLC raised its holdings in shares of Clean Energy Fuels by 94.1% during the fourth quarter. Intech Investment Management LLC now owns 77,530 shares of the utilities provider’s stock valued at $195,000 after acquiring an additional 37,577 shares in the last quarter. Hedge funds and other institutional investors own 49.94% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Robert M. Vreeland bought 15,000 shares of the business’s stock in a transaction dated Wednesday, February 26th. The shares were purchased at an average cost of $1.94 per share, with a total value of $29,100.00. Following the completion of the purchase, 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 position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders have acquired 35,000 shares of company stock worth $64,100. 3.60% of the stock is currently owned by company insiders.

Clean Energy Fuels Price Performance

Shares of CLNE stock opened at $1.40 on Tuesday. The business’s fifty day moving average is $2.06 and its 200 day moving average is $2.60. The company has a quick ratio of 2.74, a current ratio of 3.06 and a debt-to-equity ratio of 0.36. The stock has a market cap of $313.55 million, a price-to-earnings ratio of -4.52 and a beta of 2.48. Clean Energy Fuels Corp. has a twelve month low of $1.30 and a twelve month high of $3.67.

Clean Energy Fuels (NASDAQ:CLNE) last announced its earnings results on Monday, February 24th. The utilities provider reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.04. Clean Energy Fuels had a negative net margin of 17.32% and a negative return on equity of 7.59%. The firm had revenue of $109.33 million for the quarter, compared to analysts’ expectations of $102.60 million. During the same quarter in the previous year, the business posted $0.01 EPS. Research analysts expect that Clean Energy Fuels Corp. will post -0.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on CLNE shares. Scotiabank cut their price target on shares of Clean Energy Fuels from $6.00 to $4.00 and set a “sector outperform” rating on the stock in a report on Friday. StockNews.com lowered shares of Clean Energy Fuels from a “hold” rating to a “sell” rating in a research note on Wednesday, February 26th. Finally, Raymond James reissued a “strong-buy” rating and issued a $4.00 price target (down from $5.00) on shares of Clean Energy Fuels in a research note on Tuesday, February 25th.

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.