Clean Energy Fuels (NASDAQ:CLNE) Stock Price Crosses Above 200 Day Moving Average – Here’s What Happened

Shares of Clean Energy Fuels Corp. (NASDAQ:CLNE) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.02 and traded as high as $2.80. Clean Energy Fuels shares last traded at $2.69, with a volume of 1,241,379 shares traded.

Analyst Ratings Changes

CLNE has been the subject of a number of research reports. UBS Group reiterated a “buy” rating and issued a $2.75 price target (up previously from $2.00) on shares of Clean Energy Fuels in a report on Tuesday, August 12th. Jefferies Financial Group lowered Clean Energy Fuels from a “buy” rating to a “hold” rating and set a $2.20 target price for the company. in a research report on Friday, August 8th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Clean Energy Fuels in a research report on Saturday, September 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $3.59.

Clean Energy Fuels Stock Performance

The company has a debt-to-equity ratio of 0.47, a current ratio of 2.83 and a quick ratio of 2.51. The company has a market cap of $589.89 million, a PE ratio of -2.99 and a beta of 2.70. The business has a fifty day simple moving average of $2.46 and a two-hundred day simple moving average of $2.02.

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

Insider Buying and Selling

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC acquired a new stake in Clean Energy Fuels in the first quarter valued at approximately $51,000. GSA Capital Partners LLP lifted its holdings in shares of Clean Energy Fuels by 293.9% during the 1st 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. EagleClaw Capital Managment LLC lifted its holdings in shares of Clean Energy Fuels by 43.8% during the 1st 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. Voya Investment Management LLC boosted its position in shares of Clean Energy Fuels by 36.9% in the 1st quarter. Voya Investment Management LLC now owns 1,272,888 shares of the utilities provider’s stock worth $1,973,000 after purchasing an additional 342,982 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Clean Energy Fuels during the 1st quarter worth $1,113,000. Institutional investors own 49.94% of the company’s stock.

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.