Barclay Corbus Acquires 14,000 Shares of Clean Energy Fuels (NASDAQ:CLNE) Stock

Clean Energy Fuels Corp. (NASDAQ:CLNE) CEO Barclay Corbus acquired 14,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were acquired at an average price of $1.77 per share, for a total transaction of $24,780.00. Following the purchase, the chief executive officer owned 1,350,021 shares of the company’s stock, valued at $2,389,537.17. This trade represents a 1.05% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Clean Energy Fuels Stock Up 3.5%

NASDAQ:CLNE opened at $1.79 on Friday. The company has a current ratio of 2.46, a quick ratio of 2.14 and a debt-to-equity ratio of 0.41. The stock has a 50 day moving average of $2.07 and a 200-day moving average of $2.23. The firm has a market capitalization of $394.21 million, a PE ratio of -3.89 and a beta of 1.86. Clean Energy Fuels Corp. has a 52 week low of $1.66 and a 52 week high of $3.11.

Clean Energy Fuels (NASDAQ:CLNE) last released its quarterly earnings data on Thursday, May 7th. The utilities provider reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. The business had revenue of $117.56 million during the quarter, compared to analyst estimates of $102.62 million. Clean Energy Fuels had a negative return on equity of 14.04% and a negative net margin of 22.68%.The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.01 EPS. Analysts predict that Clean Energy Fuels Corp. will post -0.31 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Clean Energy Fuels in a research note on Monday, April 20th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $2.48.

Institutional Trading of Clean Energy Fuels

Several hedge funds have recently added to or reduced their stakes in CLNE. Bank of America Corp DE grew its stake in shares of Clean Energy Fuels by 14.3% in the first quarter. Bank of America Corp DE now owns 351,180 shares of the utilities provider’s stock worth $871,000 after purchasing an additional 43,940 shares in the last quarter. Amundi raised its stake in shares of Clean Energy Fuels by 25.2% during the first quarter. Amundi now owns 95,723 shares of the utilities provider’s stock valued at $237,000 after purchasing an additional 19,250 shares in the last quarter. Empowered Funds LLC raised its stake in shares of Clean Energy Fuels by 7.0% during the first quarter. Empowered Funds LLC now owns 1,075,824 shares of the utilities provider’s stock valued at $2,668,000 after purchasing an additional 70,187 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Clean Energy Fuels by 10.5% in the first quarter. Renaissance Technologies LLC now owns 1,033,295 shares of the utilities provider’s stock worth $2,563,000 after purchasing an additional 97,900 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in Clean Energy Fuels in the first quarter worth about $3,160,000. Institutional investors own 49.94% of the company’s stock.

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.