Bank of America Corp DE Sells 1,016,067 Shares of Clean Energy Fuels Corp. (NASDAQ:CLNE)

Bank of America Corp DE trimmed its stake in Clean Energy Fuels Corp. (NASDAQ:CLNE) by 93.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,392 shares of the utilities provider’s stock after selling 1,016,067 shares during the period. Bank of America Corp DE’s holdings in Clean Energy Fuels were worth $189,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Rhumbline Advisers raised its stake in shares of Clean Energy Fuels by 3.2% in the fourth quarter. Rhumbline Advisers now owns 279,006 shares of the utilities provider’s stock worth $700,000 after buying an additional 8,731 shares during the period. Bank of New York Mellon Corp increased its holdings in Clean Energy Fuels by 1.1% in the 4th quarter. Bank of New York Mellon Corp now owns 516,302 shares of the utilities provider’s stock worth $1,296,000 after acquiring an additional 5,485 shares in the last quarter. Versor Investments LP bought a new stake in Clean Energy Fuels during the 4th quarter worth approximately $45,000. Charles Schwab Investment Management Inc. lifted its holdings in 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 valued at $3,653,000 after purchasing an additional 12,169 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Clean Energy Fuels in the fourth quarter worth approximately $169,000. 49.94% of the stock is owned by institutional investors.

Clean Energy Fuels Trading Up 2.7%

CLNE opened at $1.89 on Monday. Clean Energy Fuels Corp. has a 52 week low of $1.30 and a 52 week high of $3.67. The company has a market capitalization of $417.66 million, a P/E ratio of -6.10 and a beta of 2.64. The stock’s fifty day moving average is $1.68 and its two-hundred day moving average is $2.23. 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 released its quarterly earnings data on Thursday, May 8th. The utilities provider reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.21. 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 $103.76 million for the quarter, compared to the consensus estimate of $96.61 million. During the same period last year, the firm earned ($0.01) earnings per share. The company’s quarterly revenue was up .1% on a year-over-year basis. Analysts forecast that Clean Energy Fuels Corp. will post -0.33 earnings per share for the current year.

Wall Street Analyst Weigh In

CLNE has been the topic of several recent analyst reports. Scotiabank decreased their price objective on shares of Clean Energy Fuels from $6.00 to $4.00 and set a “sector outperform” rating on the stock in a research report on Friday, April 11th. Raymond James reissued a “strong-buy” rating and set a $4.00 price target (down from $5.00) on shares of Clean Energy Fuels in a report on Tuesday, February 25th. Wall Street Zen lowered Clean Energy Fuels from a “hold” rating to a “sell” rating in a research note on Wednesday, February 26th. UBS Group set a $2.00 target price on Clean Energy Fuels and gave the stock a “buy” rating in a research report on Sunday, April 13th. Finally, Lake Street Capital lowered their price target on Clean Energy Fuels from $22.00 to $5.00 and set a “buy” rating on the stock in a report on Friday, May 9th. One 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 stock. According to MarketBeat, Clean Energy Fuels presently has a consensus rating of “Moderate Buy” and an average price target of $3.75.

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.