Raymond James Financial Inc. Purchases Shares of 67,418 Clean Energy Fuels Corp. (NASDAQ:CLNE)

Raymond James Financial Inc. purchased a new stake in shares of Clean Energy Fuels Corp. (NASDAQ:CLNE) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 67,418 shares of the utilities provider’s stock, valued at approximately $169,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Renaissance Technologies LLC grew its position in Clean Energy Fuels by 55.2% during the fourth quarter. Renaissance Technologies LLC now owns 59,900 shares of the utilities provider’s stock valued at $150,000 after buying an additional 21,300 shares during the period. Invesco Ltd. grew its position in Clean Energy Fuels by 1.2% during the fourth quarter. Invesco Ltd. now owns 349,650 shares of the utilities provider’s stock valued at $878,000 after buying an additional 4,108 shares during the period. Russell Investments Group Ltd. grew its position in Clean Energy Fuels by 34.9% during the fourth quarter. Russell Investments Group Ltd. now owns 402,940 shares of the utilities provider’s stock valued at $1,011,000 after buying an additional 104,314 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Clean Energy Fuels during the fourth quarter valued at $100,000. Finally, Franklin Resources Inc. grew its position in Clean Energy Fuels by 825.0% during the fourth quarter. Franklin Resources Inc. now owns 118,327 shares of the utilities provider’s stock valued at $297,000 after buying an additional 105,535 shares during the period. Institutional investors and hedge funds own 49.94% of the company’s stock.

Clean Energy Fuels Stock Up 8.3%

Shares of NASDAQ CLNE opened at $2.08 on Wednesday. The company’s 50-day simple moving average is $1.58 and its 200-day simple moving average is $2.40. Clean Energy Fuels Corp. has a 52-week low of $1.30 and a 52-week high of $3.67. The firm has a market cap of $459.64 million, a price-to-earnings ratio of -6.71 and a beta of 2.57. The company has a quick ratio of 2.74, a current ratio of 3.06 and a debt-to-equity ratio of 0.36.

Clean Energy Fuels (NASDAQ:CLNE) last posted its quarterly earnings results on Thursday, May 8th. The utilities provider reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.21. The firm had revenue of $103.76 million for the quarter, compared to the consensus estimate of $96.61 million. Clean Energy Fuels had a negative net margin of 17.32% and a negative return on equity of 7.59%. The company’s revenue for the quarter was up .1% on a year-over-year basis. During the same period last year, the firm posted ($0.01) earnings per share. Equities analysts predict that Clean Energy Fuels Corp. will post -0.33 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Raymond James reiterated a “strong-buy” rating and issued a $4.00 target price (down previously from $5.00) on shares of Clean Energy Fuels in a research report on Tuesday, February 25th. Lake Street Capital dropped their target price on shares of Clean Energy Fuels from $22.00 to $5.00 and set a “buy” rating on the stock in a research report on Friday, May 9th. UBS Group set a $2.00 target price on shares of Clean Energy Fuels and gave the company a “buy” rating in a research report on Sunday, April 13th. Scotiabank dropped their target price on shares of Clean Energy Fuels from $6.00 to $4.00 and set a “sector outperform” rating on the stock in a research report on Friday, April 11th. Finally, StockNews.com lowered shares of Clean Energy Fuels from a “hold” rating to a “sell” rating in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Clean Energy Fuels currently has a consensus rating of “Moderate Buy” and a consensus target price of $3.75.

Insider Transactions at Clean Energy Fuels

In other Clean Energy Fuels news, CFO Robert M. Vreeland purchased 15,000 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The shares were purchased at an average cost of $1.94 per share, with a total value of $29,100.00. Following the completion of the purchase, the chief financial officer now owns 458,800 shares in the company, valued at approximately $890,072. This represents a 3.38% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Over the last three months, insiders have acquired 35,000 shares of company stock valued at $64,100. Corporate insiders own 4.30% of the company’s stock.

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.