Victory Capital Management Inc. Decreases Position in Clean Energy Fuels Corp. (NASDAQ:CLNE)

Posted by on Oct 28th, 2023

Victory Capital Management Inc. lessened its holdings in shares of Clean Energy Fuels Corp. (NASDAQ:CLNE – Free Report) by 26.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 396,407 shares of the utilities provider’s stock after selling 140,938 shares during the period. Victory Capital Management Inc. owned approximately 0.18% of Clean Energy Fuels worth $1,966,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Clean Energy Fuels by 16.6% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 23,901 shares of the utilities provider’s stock valued at $119,000 after purchasing an additional 3,408 shares during the last quarter. Creative Planning lifted its holdings in shares of Clean Energy Fuels by 28.7% during the 2nd quarter. Creative Planning now owns 33,821 shares of the utilities provider’s stock valued at $168,000 after purchasing an additional 7,537 shares during the last quarter. Bailard Inc. lifted its holdings in shares of Clean Energy Fuels by 12.0% during the 2nd quarter. Bailard Inc. now owns 221,895 shares of the utilities provider’s stock valued at $1,101,000 after purchasing an additional 23,695 shares during the last quarter. Trellus Management Company LLC lifted its holdings in shares of Clean Energy Fuels by 35.7% during the 2nd quarter. Trellus Management Company LLC now owns 190,000 shares of the utilities provider’s stock valued at $942,000 after purchasing an additional 50,000 shares during the last quarter. Finally, Duality Advisers LP purchased a new stake in shares of Clean Energy Fuels during the 1st quarter valued at $337,000. Hedge funds and other institutional investors own 49.40% of the company’s stock.

Clean Energy Fuels Price Performance

Shares of CLNE opened at $3.36 on Friday. The business’s 50-day moving average is $4.01 and its two-hundred day moving average is $4.33. The company has a market capitalization of $749.18 million, a P/E ratio of -9.88 and a beta of 2.21. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.76 and a current ratio of 3.06. Clean Energy Fuels Corp. has a fifty-two week low of $3.34 and a fifty-two week high of $7.73.

Clean Energy Fuels (NASDAQ:CLNE – Get Free Report) last announced its quarterly earnings results on Wednesday, August 9th. The utilities provider reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.05). The company had revenue of $90.50 million for the quarter, compared to analyst estimates of $109.75 million. Clean Energy Fuels had a negative return on equity of 10.66% and a negative net margin of 16.51%. Clean Energy Fuels’s revenue for the quarter was down 6.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.06) earnings per share. Research analysts predict that Clean Energy Fuels Corp. will post -0.39 earnings per share for the current year.

Wall Street Analyst Weigh In

CLNE has been the topic of several research reports. StockNews.com initiated coverage on Clean Energy Fuels in a research report on Thursday, October 5th. They issued a “sell” rating on the stock. Northland Securities initiated coverage on Clean Energy Fuels in a research report on Tuesday, September 5th. They issued an “outperform” rating and a $7.50 target price on the stock. Stifel Nicolaus upped their target price on Clean Energy Fuels from $6.00 to $7.00 and gave the company a “buy” rating in a research report on Tuesday, August 22nd. Piper Sandler upped their target price on Clean Energy Fuels from $7.00 to $8.00 in a research report on Tuesday, August 1st. Finally, TheStreet downgraded Clean Energy Fuels from a “c-” rating to a “d” rating in a research report on Wednesday, August 9th. One analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Clean Energy Fuels has an average rating of “Moderate Buy” and a consensus target price of $9.71.

View Our Latest Research Report on Clean Energy Fuels

Clean Energy Fuels Profile

(Free Report)

Clean Energy Fuels Corp. provides natural gas as an alternative fuel 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.

Further Reading

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Institutional Ownership by Quarter for Clean Energy Fuels (NASDAQ:CLNE)

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