Pictet Asset Management Holding SA Increases Position in Clean Energy Fuels Corp. (NASDAQ:CLNE)

Pictet Asset Management Holding SA raised its position in shares of Clean Energy Fuels Corp. (NASDAQ:CLNE) by 153.2% during the fourth quarter, HoldingsChannel reports. The firm owned 57,601 shares of the utilities provider’s stock after purchasing an additional 34,852 shares during the period. Pictet Asset Management Holding SA’s holdings in Clean Energy Fuels were worth $145,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CLNE. Moors & Cabot Inc. increased its position in shares of Clean Energy Fuels by 0.9% during the 4th quarter. Moors & Cabot Inc. now owns 413,195 shares of the utilities provider’s stock valued at $1,037,000 after purchasing an additional 3,700 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Clean Energy Fuels by 1.1% in the 4th quarter. Bank of New York Mellon Corp now owns 516,302 shares of the utilities provider’s stock worth $1,296,000 after acquiring an additional 5,485 shares during the last quarter. FMR LLC lifted its holdings in shares of Clean Energy Fuels by 14.8% in the 3rd quarter. FMR LLC now owns 53,546 shares of the utilities provider’s stock worth $167,000 after acquiring an additional 6,884 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of Clean Energy Fuels by 3.2% in the 4th quarter. Rhumbline Advisers now owns 279,006 shares of the utilities provider’s stock valued at $700,000 after purchasing an additional 8,731 shares in the last quarter. Finally, IMC Chicago LLC grew its holdings in shares of Clean Energy Fuels by 7.4% during the 4th quarter. IMC Chicago LLC now owns 131,122 shares of the utilities provider’s stock valued at $329,000 after purchasing an additional 9,021 shares during the last quarter. Institutional investors own 49.94% of the company’s stock.

Insider Buying and Selling at Clean Energy Fuels

In related news, CFO Robert M. Vreeland bought 15,000 shares of the company’s stock in a transaction dated Wednesday, February 26th. The stock was purchased at an average cost of $1.94 per share, with a total value of $29,100.00. Following the transaction, the chief financial officer now owns 458,800 shares in the company, valued at approximately $890,072. This trade represents a 3.38 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders have purchased 35,000 shares of company stock valued at $64,100. 3.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

CLNE has been the subject of several analyst reports. Scotiabank cut their price target on shares of Clean Energy Fuels from $6.00 to $4.00 and set a “sector outperform” rating for the company in a research report on Friday. StockNews.com lowered Clean Energy Fuels from a “hold” rating to a “sell” rating in a research note on Wednesday, February 26th. Finally, Raymond James reaffirmed a “strong-buy” rating and issued a $4.00 target price (down from $5.00) on shares of Clean Energy Fuels in a research note on Tuesday, February 25th.

Clean Energy Fuels Stock Up 1.4 %

Shares of NASDAQ:CLNE opened at $1.49 on Friday. The stock’s 50-day moving average is $2.11 and its 200 day moving average is $2.62. The company has a market cap of $333.17 million, a PE ratio of -4.81 and a beta of 2.48. 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 Corp. has a 1 year low of $1.30 and a 1 year high of $3.67.

Clean Energy Fuels (NASDAQ:CLNE) last issued its quarterly earnings data on Monday, February 24th. The utilities provider reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.04. The firm had revenue of $109.33 million for the quarter, compared to analyst estimates of $102.60 million. Clean Energy Fuels had a negative return on equity of 7.59% and a negative net margin of 17.32%. During the same period last year, the company earned $0.01 EPS. Sell-side analysts anticipate that Clean Energy Fuels Corp. will post -0.33 EPS for the current year.

Clean Energy Fuels Company 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.