Goldman Sachs Group Inc. Sells 258,306 Shares of Clean Energy Fuels Corp. $CLNE

Goldman Sachs Group Inc. decreased its position in Clean Energy Fuels Corp. (NASDAQ:CLNE) by 22.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 887,207 shares of the utilities provider’s stock after selling 258,306 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.40% of Clean Energy Fuels worth $1,375,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Deutsche Bank AG boosted its holdings in shares of Clean Energy Fuels by 226.2% in the 4th quarter. Deutsche Bank AG now owns 366,085 shares of the utilities provider’s stock worth $919,000 after buying an additional 253,842 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in Clean Energy Fuels during the first quarter valued at about $51,000. GSA Capital Partners LLP lifted its holdings in Clean Energy Fuels by 293.9% during the first quarter. GSA Capital Partners LLP now owns 541,145 shares of the utilities provider’s stock valued at $839,000 after purchasing an additional 403,747 shares during the last quarter. Millennium Management LLC lifted its holdings in Clean Energy Fuels by 41.2% during the fourth quarter. Millennium Management LLC now owns 1,149,914 shares of the utilities provider’s stock valued at $2,886,000 after purchasing an additional 335,694 shares during the last quarter. Finally, EagleClaw Capital Managment LLC lifted its holdings in Clean Energy Fuels by 43.8% during the first quarter. EagleClaw Capital Managment LLC now owns 220,925 shares of the utilities provider’s stock valued at $342,000 after purchasing an additional 67,250 shares during the last quarter. Institutional investors own 49.94% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CLNE. Jefferies Financial Group downgraded 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 report on Friday, August 8th. UBS Group reissued a “buy” rating and issued a $2.75 price target (up from $2.00) on shares of Clean Energy Fuels in a report on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $3.59.

Insider Buying and Selling

In related news, SVP Barclay Corbus sold 105,300 shares of Clean Energy Fuels stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $2.63, for a total value of $276,939.00. Following the completion of the sale, the senior vice president directly owned 1,061,248 shares in the company, valued at approximately $2,791,082.24. This trade represents a 9.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.30% of the company’s stock.

Clean Energy Fuels Stock Performance

Shares of Clean Energy Fuels stock opened at $2.65 on Friday. The company has a current ratio of 2.83, a quick ratio of 2.51 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $581.12 million, a P/E ratio of -2.94 and a beta of 2.70. The business has a fifty day simple moving average of $2.33 and a two-hundred day simple moving average of $1.95. Clean Energy Fuels Corp. has a 12 month low of $1.30 and a 12 month high of $3.67.

Clean Energy Fuels (NASDAQ:CLNE) last announced its quarterly earnings data on Thursday, August 7th. The utilities provider reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.06. Clean Energy Fuels had a negative return on equity of 27.98% and a negative net margin of 48.40%.The business had revenue of $102.61 million during the quarter, compared to analyst estimates of $94.73 million. During the same quarter last year, the firm posted $0.01 earnings per share. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. On average, equities analysts forecast that Clean Energy Fuels Corp. will post -0.33 earnings per share for the current fiscal year.

Clean Energy Fuels Company 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.