SG Americas Securities LLC cut its holdings in Clean Energy Fuels Corp. (NASDAQ:CLNE) by 25.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,030 shares of the utilities provider’s stock after selling 23,741 shares during the quarter. SG Americas Securities LLC’s holdings in Clean Energy Fuels were worth $579,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Jump Financial LLC bought a new position in Clean Energy Fuels in the 2nd quarter valued at approximately $236,000. PNC Financial Services Group Inc. lifted its position in Clean Energy Fuels by 274.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 8,500 shares of the utilities provider’s stock valued at $85,000 after acquiring an additional 6,233 shares in the last quarter. Grassi Investment Management bought a new position in Clean Energy Fuels in the 3rd quarter valued at approximately $86,000. MML Investors Services LLC bought a new position in Clean Energy Fuels in the 2nd quarter valued at approximately $117,000. Finally, Johnson Investment Counsel Inc. bought a new position in Clean Energy Fuels in the 2nd quarter valued at approximately $120,000. 42.01% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have recently weighed in on CLNE shares. Zacks Investment Research raised Clean Energy Fuels from a “strong sell” rating to a “hold” rating in a report on Monday, January 10th. Raymond James raised Clean Energy Fuels from an “underperform” rating to a “market perform” rating in a report on Tuesday, January 4th. Finally, TheStreet cut Clean Energy Fuels from a “c-” rating to a “d+” rating in a report on Wednesday, December 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $14.42.
Clean Energy Fuels (NASDAQ:CLNE) last posted its quarterly earnings data on Thursday, November 4th. The utilities provider reported ($0.01) EPS for the quarter, hitting the consensus estimate of ($0.01). Clean Energy Fuels had a negative return on equity of 1.43% and a negative net margin of 39.10%. The firm had revenue of $86.10 million during the quarter, compared to analyst estimates of $85.49 million. During the same period in the prior year, the business posted ($0.01) EPS. Clean Energy Fuels’s revenue was up 21.4% on a year-over-year basis. On average, equities research analysts expect that Clean Energy Fuels Corp. will post 0.03 earnings per share for the current fiscal year.
Clean Energy Fuels Profile
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; manufacture CNG and LNG equipment and technologies; and deliver more CNG and LNG vehicle fuel.
Further Reading: Straddles
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