Balyasny Asset Management L.P. Buys Shares of 12,538 Clean Energy Fuels Corp. (NASDAQ:CLNE)

Balyasny Asset Management L.P. purchased a new position in Clean Energy Fuels Corp. (NASDAQ:CLNE) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 12,538 shares of the utilities provider’s stock, valued at approximately $31,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Two Sigma Securities LLC bought a new position in Clean Energy Fuels in the fourth quarter valued at about $31,000. Tower Research Capital LLC TRC increased its position in shares of Clean Energy Fuels by 56.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 13,584 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 4,894 shares during the last quarter. Cibc World Markets Corp bought a new position in shares of Clean Energy Fuels in the 4th quarter worth approximately $40,000. Versor Investments LP purchased a new position in shares of Clean Energy Fuels in the fourth quarter worth approximately $45,000. Finally, Grassi Investment Management boosted its holdings 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 worth $59,000 after buying an additional 10,000 shares during the last quarter. 49.94% of the stock is currently owned by hedge funds and other institutional investors.

Clean Energy Fuels Trading Down 0.5%

Shares of Clean Energy Fuels stock opened at $2.01 on Tuesday. Clean Energy Fuels Corp. has a fifty-two week low of $1.30 and a fifty-two week high of $3.67. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.74 and a current ratio of 3.06. The company has a market capitalization of $444.17 million, a P/E ratio of -6.48 and a beta of 2.57. The company has a fifty day moving average of $1.59 and a 200 day moving average of $2.37.

Clean Energy Fuels (NASDAQ:CLNE) last announced its quarterly earnings data on Thursday, May 8th. The utilities provider reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.20) by $0.21. Clean Energy Fuels had a negative return on equity of 7.59% and a negative net margin of 17.32%. The business had revenue of $103.76 million for the quarter, compared to the consensus estimate of $96.61 million. During the same period in the previous year, the business earned ($0.01) earnings per share. The business’s revenue was up .1% on a year-over-year basis. On average, sell-side analysts anticipate that Clean Energy Fuels Corp. will post -0.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CLNE has been the topic of several recent research reports. Lake Street Capital decreased their price target on shares of Clean Energy Fuels from $22.00 to $5.00 and set a “buy” rating on the stock in a research report on Friday, May 9th. Raymond James reaffirmed a “strong-buy” rating and issued a $4.00 target price (down from $5.00) on shares of Clean Energy Fuels in a 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, April 11th. UBS Group set a $2.00 price objective on Clean Energy Fuels and gave the stock a “buy” rating in a research note on Sunday, April 13th. Finally, StockNews.com cut Clean Energy Fuels from a “hold” rating to a “sell” rating in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $3.75.

Insiders Place Their Bets

In related news, CFO Robert M. Vreeland bought 15,000 shares of the stock in a transaction dated Wednesday, February 26th. The shares were purchased at an average price of $1.94 per share, with a total value of $29,100.00. Following the completion of the acquisition, the chief financial officer now owns 458,800 shares of the company’s stock, valued at $890,072. This represents a 3.38% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders acquired 35,000 shares of company stock worth $64,100 in the last three months. 4.30% of the stock is owned by company insiders.

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.