Clean Energy Fuels (NASDAQ:CLNE) Sets New 52-Week High – Time to Buy?

Clean Energy Fuels Corp. (NASDAQ:CLNE) shares reached a new 52-week high during trading on Thursday . The company traded as high as $3.40 and last traded at $3.37, with a volume of 1149136 shares trading hands. The stock had previously closed at $3.26.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Clean Energy Fuels from a “hold” rating to a “sell” rating in a report on Monday.

Clean Energy Fuels Stock Up 1.7 %

The firm has a market cap of $740.77 million, a PE ratio of -10.69 and a beta of 2.16. The stock has a 50 day simple moving average of $2.83 and a 200-day simple moving average of $2.88. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.06 and a quick ratio of 2.74.

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

Hedge Funds Weigh In On Clean Energy Fuels

A number of hedge funds have recently added to or reduced their stakes in CLNE. JPMorgan Chase & Co. lifted its holdings in shares of Clean Energy Fuels by 309.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 730,218 shares of the utilities provider’s stock valued at $2,271,000 after buying an additional 551,896 shares during the period. Barclays PLC grew its stake in shares of 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 during the period. Inspire Investing LLC purchased a new stake in shares of Clean Energy Fuels during the 3rd quarter valued at about $411,000. HITE Hedge Asset Management LLC lifted its stake in shares of Clean Energy Fuels by 26.8% in the 3rd quarter. HITE Hedge Asset Management LLC now owns 603,533 shares of the utilities provider’s stock worth $1,877,000 after purchasing an additional 127,712 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Clean Energy Fuels by 3.1% in the third quarter. Geode Capital Management LLC now owns 4,203,217 shares of the utilities provider’s stock worth $13,075,000 after buying an additional 126,760 shares during the last quarter. 49.94% of the stock is currently owned by hedge funds and other institutional investors.

Clean Energy Fuels Company 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.