Adage Capital Partners GP L.L.C. Invests $753,000 in Clean Energy Fuels Corp. (NASDAQ:CLNE)

Adage Capital Partners GP L.L.C. acquired a new position in Clean Energy Fuels Corp. (NASDAQ:CLNE) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 300,000 shares of the utilities provider’s stock, valued at approximately $753,000. Adage Capital Partners GP L.L.C. owned approximately 0.13% of Clean Energy Fuels at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CLNE. Coppell Advisory Solutions LLC increased its holdings in shares of Clean Energy Fuels by 1,635.8% during the fourth 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. JPMorgan Chase & Co. grew its position in Clean Energy Fuels by 309.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 730,218 shares of the utilities provider’s stock valued at $2,271,000 after buying an additional 551,896 shares in the last quarter. Natixis acquired a new position in Clean Energy Fuels during the 4th quarter valued at about $821,000. Global Alpha Capital Management Ltd. raised its position in shares of Clean Energy Fuels by 3.4% during the 4th quarter. Global Alpha Capital Management Ltd. now owns 7,392,476 shares of the utilities provider’s stock worth $18,555,000 after buying an additional 246,500 shares in the last quarter. Finally, Mercuria Capital Strategies LLC acquired a new stake in shares of Clean Energy Fuels in the 4th quarter worth approximately $489,000. 49.94% of the stock is currently owned by institutional investors and hedge funds.

Clean Energy Fuels Stock Performance

CLNE opened at $1.45 on Wednesday. The company has a quick ratio of 2.74, a current ratio of 3.06 and a debt-to-equity ratio of 0.36. The firm has a market cap of $324.75 million, a PE ratio of -4.68 and a beta of 2.48. The business has a fifty day simple moving average of $1.67 and a 200-day simple moving average of $2.49. Clean Energy Fuels Corp. has a fifty-two week low of $1.30 and a fifty-two week high of $3.67.

Clean Energy Fuels (NASDAQ:CLNE) last released its quarterly earnings results on Monday, February 24th. The utilities provider reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.04. Clean Energy Fuels had a negative return on equity of 7.59% and a negative net margin of 17.32%. The business had revenue of $109.33 million during the quarter, compared to analyst estimates of $102.60 million. During the same quarter last year, the company posted $0.01 EPS. As a group, equities analysts predict that Clean Energy Fuels Corp. will post -0.33 EPS for the current fiscal year.

Insider Activity

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

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CLNE. 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 note on Tuesday, February 25th. UBS Group set a $2.00 price objective on Clean Energy Fuels and gave the stock a “buy” rating in a research note on Sunday, April 13th. StockNews.com cut Clean Energy Fuels from a “hold” rating to a “sell” rating in a research note on Wednesday, February 26th. Finally, 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 report on Friday, April 11th.

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.