Clean Energy Fuels (NASDAQ:CLNE) Stock Price Passes Above 200 Day Moving Average – Should You Sell?

Clean Energy Fuels Corp. (NASDAQ:CLNE) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.22 and traded as high as $2.43. Clean Energy Fuels shares last traded at $2.38, with a volume of 1,078,959 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. UBS Group downgraded Clean Energy Fuels from a “buy” rating to a “neutral” rating and set a $2.75 target price for the company. in a research note on Friday. Weiss Ratings restated a “sell (d-)” rating on shares of Clean Energy Fuels in a research note on Monday, April 20th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $2.48.

Clean Energy Fuels Stock Performance

The firm has a market cap of $524.15 million, a price-to-earnings ratio of -5.17 and a beta of 1.82. The stock’s 50 day moving average is $2.03 and its 200 day moving average is $2.22. The company has a current ratio of 2.46, a quick ratio of 2.14 and a debt-to-equity ratio of 0.41.

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

Insider Transactions at Clean Energy Fuels

In related news, Director Andrew J. Littlefair sold 165,000 shares of the business’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $2.05, for a total value of $338,250.00. Following the completion of the sale, the director directly owned 1,914,993 shares in the company, valued at $3,925,735.65. The trade was a 7.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 4.12% of the stock is owned by company insiders.

Institutional Investors Weigh In On Clean Energy Fuels

A number of hedge funds and other institutional investors have recently modified their holdings of CLNE. NewEdge Advisors LLC increased its position in Clean Energy Fuels by 1,419,900.0% during the second quarter. NewEdge Advisors LLC now owns 14,200 shares of the utilities provider’s stock worth $28,000 after acquiring an additional 14,199 shares during the period. BNP Paribas Financial Markets boosted its holdings in 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 period. R Squared Ltd bought a new stake in Clean Energy Fuels in the 1st quarter valued at about $31,000. Mercer Global Advisors Inc. ADV acquired a new position in shares of Clean Energy Fuels during the 4th quarter worth approximately $31,000. Finally, CWM LLC grew its position in shares of Clean Energy Fuels by 40.3% during the 4th quarter. CWM LLC now owns 16,683 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 4,791 shares in the last quarter. Institutional investors and hedge funds 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.