Verition Fund Management LLC Sells 67,763 Shares of Clean Energy Fuels Corp. (NASDAQ:CLNE)

Verition Fund Management LLC trimmed its stake in Clean Energy Fuels Corp. (NASDAQ:CLNE) by 73.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,955 shares of the utilities provider’s stock after selling 67,763 shares during the period. Verition Fund Management LLC’s holdings in Clean Energy Fuels were worth $74,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. SG Americas Securities LLC boosted its holdings in shares of Clean Energy Fuels by 411.7% in the second quarter. SG Americas Securities LLC now owns 149,943 shares of the utilities provider’s stock valued at $400,000 after purchasing an additional 120,639 shares during the period. Bank of New York Mellon Corp raised its position in Clean Energy Fuels by 11.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 642,202 shares of the utilities provider’s stock valued at $1,715,000 after purchasing an additional 66,523 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Clean Energy Fuels by 2.4% in the 2nd quarter. Rhumbline Advisers now owns 292,747 shares of the utilities provider’s stock worth $782,000 after buying an additional 6,989 shares during the period. Los Angeles Capital Management LLC bought a new position in shares of Clean Energy Fuels during the 2nd quarter worth $317,000. Finally, SIR Capital Management L.P. increased its stake 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 period. 49.94% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on CLNE shares. Scotiabank raised their target price on shares of Clean Energy Fuels from $5.00 to $6.00 and gave the company a “sector outperform” rating in a research report on Tuesday, September 3rd. StockNews.com lowered shares of Clean Energy Fuels from a “hold” rating to a “sell” rating in a report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Clean Energy Fuels presently has an average rating of “Moderate Buy” and a consensus price target of $5.38.

Clean Energy Fuels Stock Performance

CLNE stock opened at $2.71 on Wednesday. The firm has a 50-day simple moving average of $2.88 and a two-hundred day simple moving average of $2.85. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.74 and a current ratio of 3.06. Clean Energy Fuels Corp. has a one year low of $2.17 and a one year high of $4.13. The firm has a market cap of $605.57 million, a price-to-earnings ratio of -8.74 and a beta of 2.14.

Clean Energy Fuels (NASDAQ:CLNE) last released its quarterly earnings results on Wednesday, November 6th. The utilities provider reported $0.02 earnings per share (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 analyst estimates of $100.64 million. During the same period in the previous year, the company earned ($0.12) earnings per share. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. On average, equities analysts forecast that Clean Energy Fuels Corp. will post -0.33 EPS for the current fiscal year.

About Clean Energy Fuels

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.