MQS Management LLC Invests $72,000 in Clean Energy Fuels Corp. (NASDAQ:CLNE)

MQS Management LLC bought a new position in Clean Energy Fuels Corp. (NASDAQ:CLNE) in the 3rd quarter, Holdings Channel.com reports. The firm bought 23,139 shares of the utilities provider’s stock, valued at approximately $72,000.

Several other institutional investors and hedge funds also recently modified their holdings of CLNE. Eastern Bank purchased a new position in Clean Energy Fuels in the third quarter valued at about $31,000. Tidal Investments LLC purchased a new position in Clean Energy Fuels in the first quarter valued at about $33,000. DRW Securities LLC purchased a new position in Clean Energy Fuels in the second quarter valued at about $38,000. Algert Global LLC purchased a new position in Clean Energy Fuels in the second quarter valued at about $45,000. Finally, Pinnacle Wealth Planning Services Inc. purchased a new position in Clean Energy Fuels in the first quarter valued at about $52,000. Hedge funds and other institutional investors own 49.94% of the company’s stock.

Clean Energy Fuels Trading Down 7.3 %

Shares of NASDAQ CLNE opened at $2.65 on Friday. The stock’s 50 day moving average price is $2.95 and its two-hundred day moving average price is $2.80. Clean Energy Fuels Corp. has a 52-week low of $2.17 and a 52-week high of $4.13. The stock has a market capitalization of $592.17 million, a P/E ratio of -8.55 and a beta of 2.12. The company has a quick ratio of 2.59, a current ratio of 3.06 and a debt-to-equity ratio of 0.36.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CLNE shares. StockNews.com raised Clean Energy Fuels from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Scotiabank increased their price target on Clean Energy Fuels from $5.00 to $6.00 and gave the company a “sector outperform” rating in a report on Tuesday, September 3rd. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target 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.