BNP Paribas Financial Markets Sells 17,376 Shares of Clean Energy Fuels Corp. (NASDAQ:CLNE)

BNP Paribas Financial Markets reduced its holdings in shares of Clean Energy Fuels Corp. (NASDAQ:CLNE) by 46.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 19,848 shares of the utilities provider’s stock after selling 17,376 shares during the period. BNP Paribas Financial Markets’ holdings in Clean Energy Fuels were worth $50,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. IMC Chicago LLC raised its position in Clean Energy Fuels by 7.4% during the 4th quarter. IMC Chicago LLC now owns 131,122 shares of the utilities provider’s stock valued at $329,000 after purchasing an additional 9,021 shares in the last quarter. Golden State Wealth Management LLC bought a new stake in Clean Energy Fuels during the 4th quarter valued at $63,000. Rhumbline Advisers raised its position in Clean Energy Fuels by 3.2% during the 4th quarter. Rhumbline Advisers now owns 279,006 shares of the utilities provider’s stock valued at $700,000 after purchasing an additional 8,731 shares in the last quarter. Bank of New York Mellon Corp raised its position 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 purchasing an additional 5,485 shares in the last quarter. Finally, Versor Investments LP bought a new stake in Clean Energy Fuels during the 4th quarter valued at $45,000. 49.94% of the stock is owned by institutional investors.

Clean Energy Fuels Trading Up 9.4%

Shares of NASDAQ:CLNE opened at $1.87 on Wednesday. Clean Energy Fuels Corp. has a 12-month low of $1.30 and a 12-month high of $3.67. The business’s fifty day simple moving average is $1.62 and its 200-day simple moving average is $2.29. The company has a market capitalization of $413.24 million, a PE ratio of -6.03 and a beta of 2.57. The company has a current ratio of 3.06, a quick ratio of 2.74 and a debt-to-equity ratio of 0.36.

Clean Energy Fuels (NASDAQ:CLNE) last announced its earnings results on Thursday, May 8th. The utilities provider reported $0.01 earnings per share for the quarter, topping 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 firm 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) EPS. The firm’s revenue for the quarter was up .1% on a year-over-year basis. As a group, equities research analysts predict that Clean Energy Fuels Corp. will post -0.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CLNE shares. Lake Street Capital decreased their target price on Clean Energy Fuels from $22.00 to $5.00 and set a “buy” rating for the company in a research report on Friday, May 9th. Raymond James reaffirmed a “strong-buy” rating and set a $4.00 target price (down from $5.00) on shares of Clean Energy Fuels in a research report on Tuesday, February 25th. UBS Group set a $2.00 target price on Clean Energy Fuels and gave the company a “buy” rating in a research report on Sunday, April 13th. Scotiabank cut their price target on Clean Energy Fuels from $6.00 to $4.00 and set a “sector outperform” rating on the stock in a report on Friday, April 11th. Finally, Wall Street Zen downgraded Clean Energy Fuels from a “hold” rating to a “sell” rating in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Clean Energy Fuels presently has an average rating of “Moderate Buy” and an average target price of $3.75.

About Clean Energy Fuels

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.