Clean Energy Fuels (NASDAQ:CLNE) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Clean Energy Fuels Corp. (NASDAQ:CLNE) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.39 and traded as high as $2.84. Clean Energy Fuels shares last traded at $2.75, with a volume of 2,828,752 shares traded.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Clean Energy Fuels in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Clean Energy Fuels has a consensus rating of “Moderate Buy” and an average target price of $3.59.

Clean Energy Fuels Stock Performance

The firm has a 50 day moving average price of $2.24 and a 200-day moving average price of $2.39. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.39 and a current ratio of 2.69. The company has a market cap of $603.08 million, a P/E ratio of -2.96 and a beta of 2.20.

Institutional Investors Weigh In On Clean Energy Fuels

Hedge funds have recently bought and sold shares of the company. Grantham Mayo Van Otterloo & Co. LLC increased its stake in shares of Clean Energy Fuels by 2.0% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 11,851,464 shares of the utilities provider’s stock worth $30,577,000 after purchasing an additional 237,816 shares during the period. Vanguard Group Inc. increased its position in Clean Energy Fuels by 3.1% in the 3rd quarter. Vanguard Group Inc. now owns 11,402,549 shares of the utilities provider’s stock worth $29,419,000 after buying an additional 341,333 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Clean Energy Fuels by 2.1% during the second quarter. Geode Capital Management LLC now owns 4,333,554 shares of the utilities provider’s stock worth $8,452,000 after buying an additional 87,716 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Clean Energy Fuels by 765.1% in the third quarter. JPMorgan Chase & Co. now owns 2,457,876 shares of the utilities provider’s stock valued at $6,341,000 after acquiring an additional 2,173,771 shares during the period. Finally, Bridgeway Capital Management LLC grew its stake in shares of Clean Energy Fuels by 6.3% in the third quarter. Bridgeway Capital Management LLC now owns 1,239,990 shares of the utilities provider’s stock worth $3,199,000 after acquiring an additional 73,403 shares during the last quarter. 49.94% of the stock is currently owned by institutional investors.

About Clean Energy Fuels

Clean Energy Fuels Corp., founded in 1997 and headquartered in Newport Beach, California, is a leading provider of natural gas and renewable natural gas (RNG) fuel for the transportation sector. The company operates a network of more than 500 fueling stations across the United States and Canada, supplying compressed natural gas (CNG), liquefied natural gas (LNG) and RNG derived from organic waste streams. Clean Energy serves a diverse customer base that includes commercial trucking fleets, public transit agencies, refuse haulers and municipal vehicle operators.

In addition to fuel supply, Clean Energy offers turnkey station design, construction and ongoing maintenance services, as well as fueling hardware and project management.