Cubist Systematic Strategies LLC Invests $446,000 in Clean Energy Fuels Corp. (NASDAQ:CLNE)

Cubist Systematic Strategies LLC purchased a new position in shares of Clean Energy Fuels Corp. (NASDAQ:CLNE) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 177,536 shares of the utilities provider’s stock, valued at approximately $446,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP raised its stake in shares of Clean Energy Fuels by 1.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,498,040 shares of the utilities provider’s stock worth $23,840,000 after buying an additional 124,031 shares during the last quarter. JPMorgan Chase & Co. increased its position in Clean Energy Fuels by 309.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 730,218 shares of the utilities provider’s stock worth $2,271,000 after purchasing an additional 551,896 shares in the last quarter. IMC Chicago LLC increased 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 worth $329,000 after purchasing an additional 9,021 shares in the last quarter. Barclays PLC increased its position in Clean Energy Fuels by 26.7% during the 4th quarter. Barclays PLC now owns 337,152 shares of the utilities provider’s stock worth $846,000 after purchasing an additional 71,048 shares in the last quarter. Finally, Rhumbline Advisers increased 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 worth $700,000 after purchasing an additional 8,731 shares in the last quarter. Institutional investors and hedge funds own 49.94% of the company’s stock.

Clean Energy Fuels Stock Up 3.1%

CLNE opened at $2.02 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.06 and a quick ratio of 2.74. The stock has a market capitalization of $446.38 million, a price-to-earnings ratio of -6.52 and a beta of 2.57. The business has a 50-day moving average of $1.59 and a two-hundred day moving average of $2.38. 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 posted its quarterly earnings results on Thursday, May 8th. The utilities provider reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.20) by $0.21. The company had revenue of $103.76 million during the quarter, compared to analysts’ expectations of $96.61 million. Clean Energy Fuels had a negative return on equity of 7.59% and a negative net margin of 17.32%. The firm’s revenue was up .1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.01) EPS. On average, research analysts expect that Clean Energy Fuels Corp. will post -0.33 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on CLNE. StockNews.com cut Clean Energy Fuels from a “hold” rating to a “sell” rating in a research report on Wednesday, February 26th. UBS Group set a $2.00 price objective on Clean Energy Fuels and gave the stock a “buy” rating in a research report on Sunday, April 13th. Scotiabank dropped their price objective on Clean Energy Fuels from $6.00 to $4.00 and set a “sector outperform” rating for the company in a research report on Friday, April 11th. Lake Street Capital dropped their price objective 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. Finally, Raymond James reiterated a “strong-buy” rating and set a $4.00 price objective (down previously from $5.00) on shares of Clean Energy Fuels in a research report on Tuesday, February 25th. One analyst has rated the stock with a sell rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $3.75.

Insider Buying and Selling at Clean Energy Fuels

In other Clean Energy Fuels news, CFO Robert M. Vreeland purchased 15,000 shares of the stock in a transaction on Wednesday, February 26th. The stock was bought at an average price of $1.94 per share, for a total transaction of $29,100.00. Following the acquisition, the chief financial officer now directly owns 458,800 shares of the company’s stock, valued at $890,072. This represents a 3.38% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Insiders acquired 35,000 shares of company stock worth $64,100 in the last 90 days. 4.30% of the stock is owned by company insiders.

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.