JPMorgan Chase & Co. Has $2.27 Million Stake in Clean Energy Fuels Corp. (NASDAQ:CLNE)

JPMorgan Chase & Co. boosted its holdings in shares of Clean Energy Fuels Corp. (NASDAQ:CLNE) by 309.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 730,218 shares of the utilities provider’s stock after purchasing an additional 551,896 shares during the period. JPMorgan Chase & Co. owned 0.33% of Clean Energy Fuels worth $2,271,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CLNE. Eastern Bank bought a new position in shares of Clean Energy Fuels in the 3rd quarter worth $31,000. DRW Securities LLC bought a new position in shares of Clean Energy Fuels in the 2nd quarter worth $38,000. Point72 DIFC Ltd bought a new position in shares of Clean Energy Fuels in the 3rd quarter worth $41,000. Zacks Investment Management bought a new position in shares of Clean Energy Fuels in the 3rd quarter worth $42,000. Finally, Algert Global LLC bought a new position in shares of Clean Energy Fuels in the 2nd quarter worth $45,000. 49.94% of the stock is owned by institutional investors and hedge funds.

Clean Energy Fuels Stock Performance

Shares of Clean Energy Fuels stock opened at $2.94 on Wednesday. The firm has a market cap of $656.96 million, a price-to-earnings ratio of -9.48 and a beta of 2.16. The stock’s 50-day moving average is $2.78 and its 200-day moving average is $2.85. Clean Energy Fuels Corp. has a one year low of $2.17 and a one year high of $3.37. 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 issued its quarterly earnings results on Wednesday, November 6th. The utilities provider reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.04. The company had revenue of $104.90 million for the quarter, compared to analyst estimates of $100.64 million. Clean Energy Fuels had a negative return on equity of 7.59% and a negative net margin of 17.32%. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.12) earnings per share. Equities analysts predict that Clean Energy Fuels Corp. will post -0.33 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Clean Energy Fuels from a “sell” rating to a “hold” rating in a research report on Tuesday, December 24th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $5.38.

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.