Grassi Investment Management Raises Stock Position in Clean Energy Fuels Corp. (NASDAQ:CLNE)

Grassi Investment Management grew its holdings in Clean Energy Fuels Corp. (NASDAQ:CLNE) by 74.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,500 shares of the utilities provider’s stock after acquiring an additional 10,000 shares during the period. Grassi Investment Management’s holdings in Clean Energy Fuels were worth $59,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CLNE. JPMorgan Chase & Co. raised its stake in shares of 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 acquiring an additional 551,896 shares during the period. Barclays PLC grew its holdings in Clean Energy Fuels by 252.1% during the 3rd quarter. Barclays PLC now owns 266,104 shares of the utilities provider’s stock valued at $828,000 after purchasing an additional 190,520 shares in the last quarter. Inspire Investing LLC acquired a new stake in Clean Energy Fuels during the 3rd quarter valued at $411,000. HITE Hedge Asset Management LLC grew its holdings in Clean Energy Fuels by 26.8% during the 3rd quarter. HITE Hedge Asset Management LLC now owns 603,533 shares of the utilities provider’s stock valued at $1,877,000 after purchasing an additional 127,712 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Clean Energy Fuels by 3.1% during the 3rd quarter. Geode Capital Management LLC now owns 4,203,217 shares of the utilities provider’s stock valued at $13,075,000 after purchasing an additional 126,760 shares in the last quarter. Hedge funds and other institutional investors own 49.94% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Clean Energy Fuels from a “sell” rating to a “hold” rating in a report on Tuesday, December 24th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $5.38.

Clean Energy Fuels Stock Down 10.2 %

CLNE stock traded down $0.31 during mid-day trading on Monday, hitting $2.73. 2,435,525 shares of the company were exchanged, compared to its average volume of 3,169,631. Clean Energy Fuels Corp. has a twelve month low of $2.17 and a twelve month high of $3.42. The firm has a fifty day simple moving average of $2.82 and a 200 day simple moving average of $2.84. The company has a current ratio of 3.06, a quick ratio of 2.74 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $610.04 million, a PE ratio of -8.81 and a beta of 2.16.

Clean Energy Fuels (NASDAQ:CLNE) last posted its quarterly earnings results on Wednesday, November 6th. The utilities provider reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.04. Clean Energy Fuels had a negative net margin of 17.32% and a negative return on equity of 7.59%. The business had revenue of $104.90 million during the quarter, compared to analyst estimates of $100.64 million. During the same period in the previous year, the business posted ($0.12) EPS. The company’s quarterly revenue was up 9.7% on a year-over-year basis. On average, research analysts forecast that Clean Energy Fuels Corp. will post -0.33 earnings per share for the current fiscal year.

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.