Clean Energy Fuels (NASDAQ:CLNE) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Clean Energy Fuels (NASDAQ:CLNE) announced its quarterly earnings results on Thursday, May 9th. The utilities provider reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.01, Morningstar.com reports. Clean Energy Fuels had a negative net margin of 8.38% and a negative return on equity of 5.43%. The company had revenue of $77.70 million for the quarter.

CLNE stock traded down $0.08 during midday trading on Friday, reaching $2.76. 680,554 shares of the company’s stock traded hands, compared to its average volume of 922,004. Clean Energy Fuels has a 52-week low of $1.61 and a 52-week high of $4.05. The stock has a market cap of $564.85 million, a P/E ratio of -46.00 and a beta of 2.09. The company has a current ratio of 3.16, a quick ratio of 2.68 and a debt-to-equity ratio of 0.20.

Hedge funds have recently made changes to their positions in the business. Prudential Financial Inc. purchased a new stake in Clean Energy Fuels during the fourth quarter valued at approximately $27,000. Hsbc Holdings PLC purchased a new stake in shares of Clean Energy Fuels in the first quarter worth $50,000. Two Sigma Securities LLC increased its stake in shares of Clean Energy Fuels by 34.7% in the fourth quarter. Two Sigma Securities LLC now owns 21,068 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 5,433 shares in the last quarter. Weiss Asset Management LP purchased a new stake in shares of Clean Energy Fuels in the first quarter worth $74,000. Finally, Great West Life Assurance Co. Can purchased a new stake in shares of Clean Energy Fuels in the fourth quarter worth $42,000. 27.88% of the stock is owned by institutional investors and hedge funds.

CLNE has been the topic of several research reports. ValuEngine raised shares of Clean Energy Fuels from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. BidaskClub raised shares of Clean Energy Fuels from a “hold” rating to a “buy” rating in a report on Tuesday, March 26th. Finally, Zacks Investment Research cut shares of Clean Energy Fuels from a “hold” rating to a “sell” rating in a report on Wednesday, February 27th.

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About Clean Energy Fuels

Clean Energy Fuels Corp. provides natural gas as an alternative fuel for vehicle fleets in the United States and Canada. The company supplies renewable natural gas (RNG), compressed natural gas (CNG), and liquefied natural gas (LNG) for light, medium, and heavy-duty vehicles; and offers operation and maintenance services for public and private vehicle fleet customer stations.

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Earnings History for Clean Energy Fuels (NASDAQ:CLNE)

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