Clean Energy Fuels (NASDAQ:CLNE) Stock Price Up 14.5% on Better-Than-Expected Earnings

Clean Energy Fuels Corp. (NASDAQ:CLNE)’s stock price rose 14.5% during trading on Friday following a stronger than expected earnings report. The stock traded as high as $2.55 and last traded at $2.34. Approximately 2,462,679 shares traded hands during trading, a decline of 8% from the average daily volume of 2,670,916 shares. The stock had previously closed at $2.04.

The utilities provider reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.06. The firm had revenue of $102.61 million for the quarter, compared to analyst estimates of $94.73 million. Clean Energy Fuels had a negative net margin of 48.40% and a negative return on equity of 27.08%. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.01 EPS.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. UBS Group set a $2.00 price target on shares of Clean Energy Fuels and gave the stock a “buy” rating in a research note on Sunday, April 13th. Scotiabank dropped 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 research note on Friday, April 11th. Jefferies Financial Group lowered shares of Clean Energy Fuels from a “buy” rating to a “hold” rating and set a $2.20 price target on the stock. in a research note on Friday. Finally, Lake Street Capital dropped 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 note on Friday, May 9th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $3.44.

Institutional Trading of Clean Energy Fuels

Several large investors have recently modified their holdings of CLNE. Global Alpha Capital Management Ltd. boosted its holdings in shares of Clean Energy Fuels by 31.9% during the 1st quarter. Global Alpha Capital Management Ltd. now owns 9,750,076 shares of the utilities provider’s stock worth $15,113,000 after buying an additional 2,357,600 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Clean Energy Fuels in the 1st quarter valued at $1,113,000. Coppell Advisory Solutions LLC boosted its holdings in Clean Energy Fuels by 1,635.8% in the 4th quarter. Coppell Advisory Solutions LLC now owns 734,640 shares of the utilities provider’s stock valued at $1,829,000 after purchasing an additional 692,318 shares during the period. Nuveen LLC bought a new stake in Clean Energy Fuels in the 1st quarter valued at $1,005,000. Finally, GMT Capital Corp boosted its holdings in Clean Energy Fuels by 211.3% in the 1st quarter. GMT Capital Corp now owns 767,758 shares of the utilities provider’s stock valued at $1,190,000 after purchasing an additional 521,089 shares during the period. 49.94% of the stock is owned by institutional investors.

Clean Energy Fuels Trading Up 12.3%

The company has a current ratio of 2.82, a quick ratio of 2.50 and a debt-to-equity ratio of 0.45. The business’s fifty day simple moving average is $2.01 and its two-hundred day simple moving average is $2.04. The stock has a market capitalization of $506.04 million, a P/E ratio of -2.54 and a beta of 2.65.

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.