Citigroup Inc. Grows Stake in Clean Energy Fuels Corp. (NASDAQ:CLNE)

Citigroup Inc. boosted its position in shares of Clean Energy Fuels Corp. (NASDAQ:CLNE – Get Rating) by 13.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 423,814 shares of the utilities provider’s stock after buying an additional 51,692 shares during the quarter. Citigroup Inc.’s holdings in Clean Energy Fuels were worth $2,204,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Cambridge Trust Co. boosted its stake in Clean Energy Fuels by 33.3% during the third quarter. Cambridge Trust Co. now owns 10,000 shares of the utilities provider’s stock worth $53,000 after buying an additional 2,500 shares during the period. Gill Capital Partners LLC purchased a new position in shares of Clean Energy Fuels during the fourth quarter valued at approximately $62,000. Arete Wealth Advisors LLC purchased a new position in shares of Clean Energy Fuels during the third quarter valued at approximately $64,000. Pictet Asset Management SA purchased a new position in shares of Clean Energy Fuels during the third quarter valued at approximately $77,000. Finally, Creative Planning boosted its position in shares of Clean Energy Fuels by 3,619.4% during the second quarter. Creative Planning now owns 18,597 shares of the utilities provider’s stock valued at $83,000 after buying an additional 18,097 shares during the period. 46.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Clean Energy Fuels

In other Clean Energy Fuels news, SVP Barclay Corbus sold 5,643 shares of the stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $5.69, for a total transaction of $32,108.67. Following the completion of the sale, the senior vice president now directly owns 624,458 shares of the company’s stock, valued at $3,553,166.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 3.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CLNE shares. TD Cowen lowered their target price on shares of Clean Energy Fuels from $7.00 to $5.50 and set a “market perform” rating for the company in a research note on Monday, March 6th. Raymond James raised shares of Clean Energy Fuels from a “market perform” rating to an “outperform” rating and set a $6.00 target price for the company in a research note on Wednesday, April 5th. Piper Sandler assumed coverage on Clean Energy Fuels in a report on Monday, February 27th. They issued an “overweight” rating and a $8.00 price target for the company. Lake Street Capital lowered their price target on Clean Energy Fuels from $27.00 to $22.00 in a report on Wednesday, March 1st. Finally, StockNews.com assumed coverage on Clean Energy Fuels in a report on Thursday, May 18th. They issued a “sell” rating for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $10.79.

Clean Energy Fuels Stock Down 2.9 %

Clean Energy Fuels stock opened at $4.31 on Thursday. The business has a fifty day moving average of $4.31 and a two-hundred day moving average of $5.24. The company has a quick ratio of 2.66, a current ratio of 2.91 and a debt-to-equity ratio of 0.21. The firm has a market cap of $960.74 million, a P/E ratio of -13.06 and a beta of 2.18. Clean Energy Fuels Corp. has a twelve month low of $3.84 and a twelve month high of $8.58.

Clean Energy Fuels (NASDAQ:CLNE – Get Rating) last released its quarterly earnings results on Tuesday, February 28th. The utilities provider reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.03). The firm had revenue of $113.76 million for the quarter, compared to analysts’ expectations of $111.40 million. Clean Energy Fuels had a negative net margin of 15.62% and a negative return on equity of 10.14%. On average, analysts forecast that Clean Energy Fuels Corp. will post -0.41 earnings per share for the current fiscal year.

Clean Energy Fuels Profile

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Clean Energy Fuels Corp. engages in the provision of natural gas as an alternative fuel for vehicle fleets in the United States and Canada. It also builds and operates compressed natural gas (CNG) and liquefied natural gas (LNG) vehicle fueling stations, manufactures CNG and LNG equipment and technologies, and delivers CNG and LNG vehicle fuel.