Clean Energy Fuels (NASDAQ:CLNE) Announces Quarterly Earnings Results

Clean Energy Fuels (NASDAQ:CLNE) issued its quarterly earnings data on Tuesday. The utilities provider reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.17), Zacks reports. The firm had revenue of $112.32 million for the quarter, compared to analyst estimates of $101.02 million. Clean Energy Fuels had a negative return on equity of 30.44% and a negative net margin of 49.59%.

Clean Energy Fuels Price Performance

CLNE traded down $0.01 on Tuesday, hitting $2.54. 997,356 shares of the company’s stock were exchanged, compared to its average volume of 1,178,671. Clean Energy Fuels has a fifty-two week low of $1.30 and a fifty-two week high of $3.11. The stock has a market cap of $557.02 million, a price-to-earnings ratio of -2.73 and a beta of 2.20. The firm has a 50-day moving average price of $2.31 and a 200-day moving average price of $2.44. The company has a current ratio of 2.69, a quick ratio of 2.39 and a debt-to-equity ratio of 0.48.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Clean Energy Fuels

A number of institutional investors and hedge funds have recently bought and sold shares of the business. NewEdge Advisors LLC boosted its position in shares of Clean Energy Fuels by 1,419,900.0% during the 2nd quarter. NewEdge Advisors LLC now owns 14,200 shares of the utilities provider’s stock valued at $28,000 after acquiring an additional 14,199 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Clean Energy Fuels by 54.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 14,844 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 5,254 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in shares of Clean Energy Fuels in the 4th quarter valued at $31,000. Mariner LLC grew its holdings in shares of Clean Energy Fuels by 43.9% during the 4th quarter. Mariner LLC now owns 16,641 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 5,075 shares during the period. Finally, CIBC Bancorp USA Inc. acquired a new stake in shares of Clean Energy Fuels during the 3rd quarter worth about $48,000. 49.94% of the stock is currently owned by institutional investors and hedge funds.

Clean Energy Fuels Company Profile

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.