Moors & Cabot Inc. Sells 18,600 Shares of Clean Energy Fuels Corp. (NASDAQ:CLNE)

Moors & Cabot Inc. lowered its holdings in shares of Clean Energy Fuels Corp. (NASDAQ:CLNE) by 4.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 409,495 shares of the utilities provider’s stock after selling 18,600 shares during the quarter. Moors & Cabot Inc. owned 0.18% of Clean Energy Fuels worth $1,274,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CLNE. Tidal Investments LLC acquired a new position in shares of Clean Energy Fuels in the first quarter valued at approximately $33,000. Vanguard Group Inc. increased its position in Clean Energy Fuels by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 10,101,301 shares of the utilities provider’s stock valued at $27,071,000 after buying an additional 100,271 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Clean Energy Fuels by 33.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 105,763 shares of the utilities provider’s stock worth $284,000 after buying an additional 26,356 shares during the last quarter. SIR Capital Management L.P. boosted its position in shares of Clean Energy Fuels by 9.8% during the second quarter. SIR Capital Management L.P. now owns 2,764,529 shares of the utilities provider’s stock valued at $7,381,000 after buying an additional 246,600 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its position in Clean Energy Fuels by 30.6% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 44,569 shares of the utilities provider’s stock worth $119,000 after purchasing an additional 10,437 shares in the last quarter. 49.94% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Scotiabank lifted their price objective on shares of Clean Energy Fuels from $5.00 to $6.00 and gave the company a “sector outperform” rating in a research note on Tuesday, September 3rd. StockNews.com upgraded Clean Energy Fuels from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $5.38.

Clean Energy Fuels Stock Performance

Shares of CLNE opened at $2.71 on Friday. The business has a 50-day simple moving average of $2.94 and a two-hundred day simple moving average of $2.81. The stock has a market cap of $605.58 million, a price-to-earnings ratio of -8.74 and a beta of 2.12. Clean Energy Fuels Corp. has a 52 week low of $2.17 and a 52 week high of $4.13. The company has a quick ratio of 2.74, a current ratio of 3.06 and a debt-to-equity ratio of 0.36.

Clean Energy Fuels (NASDAQ:CLNE) last announced its quarterly earnings results on Wednesday, November 6th. The utilities provider reported $0.02 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $100.64 million. During the same quarter in the previous year, the company earned ($0.12) EPS. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. On average, analysts expect that Clean Energy Fuels Corp. will post -0.33 EPS for the current 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.