Clean Energy Fuels Corp. (NASDAQ:CLNE) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN reduced its position in Clean Energy Fuels Corp. (NASDAQ:CLNE) by 15.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 145,379 shares of the utilities provider’s stock after selling 27,069 shares during the quarter. Wells Fargo & Company MN owned about 0.07% of Clean Energy Fuels worth $365,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Global Alpha Capital Management Ltd. boosted its stake in Clean Energy Fuels by 3.4% during the 4th quarter. Global Alpha Capital Management Ltd. now owns 7,392,476 shares of the utilities provider’s stock worth $18,555,000 after purchasing an additional 246,500 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Clean Energy Fuels by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,455,351 shares of the utilities provider’s stock worth $3,653,000 after buying an additional 12,169 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Clean Energy Fuels by 41.0% during the fourth quarter. JPMorgan Chase & Co. now owns 1,029,482 shares of the utilities provider’s stock worth $2,584,000 after buying an additional 299,264 shares during the last quarter. Clearbridge Investments LLC increased its position in Clean Energy Fuels by 12.3% in the 4th quarter. Clearbridge Investments LLC now owns 536,722 shares of the utilities provider’s stock valued at $1,347,000 after acquiring an additional 58,900 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Clean Energy Fuels by 1.1% during the 4th quarter. Bank of New York Mellon Corp now owns 516,302 shares of the utilities provider’s stock valued at $1,296,000 after acquiring an additional 5,485 shares during the last quarter. 49.94% of the stock is currently owned by hedge funds and other institutional investors.

Clean Energy Fuels Stock Down 1.9 %

Shares of NASDAQ CLNE opened at $1.51 on Tuesday. The stock has a market capitalization of $338.19 million, a price-to-earnings ratio of -4.87 and a beta of 2.57. Clean Energy Fuels Corp. has a 52 week low of $1.30 and a 52 week high of $3.67. The firm has a 50-day moving average price of $1.60 and a 200 day moving average price of $2.44. The company has a quick ratio of 2.74, a current ratio of 3.06 and a debt-to-equity ratio of 0.36.

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Scotiabank lowered their target price on Clean Energy Fuels from $6.00 to $4.00 and set a “sector outperform” rating on the stock in a research note on Friday, April 11th. Raymond James reissued a “strong-buy” rating and issued a $4.00 price objective (down from $5.00) on shares of Clean Energy Fuels in a research note on Tuesday, February 25th. UBS Group set a $2.00 target price on shares of Clean Energy Fuels and gave the stock a “buy” rating in a research note on Sunday, April 13th. Finally, StockNews.com lowered shares of Clean Energy Fuels from a “hold” rating to a “sell” rating in a research note on Wednesday, February 26th.

Insider Buying and Selling at Clean Energy Fuels

In other Clean Energy Fuels news, CFO Robert M. Vreeland acquired 15,000 shares of the stock in a transaction that occurred on 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 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 ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders have bought 35,000 shares of company stock valued at $64,100. Insiders own 4.30% of the company’s stock.

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.