Grantham, Mayo, Van Otterloo & Co recently announced the acquisition of new stake in Clean Energy Fuels Corp. (NASDAQ:CLNE). The institutional investor has increased its shareholding in the Energy company by 31.22% to 15.19 million shares with purchase of 3.61 million shares. This fresh investment now brings its stake to 6.82% valued currently at $64.85 million. In addition, BlackRock Fund Advisors raised its holdings by 0.23 million to 11.37 million shares. And Dimensional Fund Advisors LP has lifted its position by 16.58% or 1.44 million shares – to 10.09 million shares.
With over 1.69 million Clean Energy Fuels Corp. (CLNE) shares trading Friday and a closing price of $4.49 on the day, the dollar volume was approximately $7.6 million. The shares have shown a negative half year performance of -38.07% and its price on 05/19/23 lost nearly -1.75%. Currently, there are 222.72M common shares owned by the public and among those 176.11M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 11 analysts who have offered their price forecasts for CLNE have a consensus price objective of $9.43. The analysts have set the share’s price value over the next 12 months at a high of $22.00 and a low of $5.50. The average price target is 52.39% above its recent price level and an upside to the estimated low will see the stock gain 18.36% over that period. But an upside of 79.59% will see the stock hit the forecast high price target while median target price for the stock is $7.00.
Insiders at the company have transacted a total of 11 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 2 of these insider trades were purchases, accounting for 300 shares. Insider sales of the common stock occurred on 9 occasions, with total insider shares sold totaling 266,601 shares.
The top 3 mutual fund holders in Clean Energy Fuels Corp. are Vanguard Total Stock Market ETF, SPDR S&P Oil & Gas Exploration &, and iShares Russell 2000 ETF. Vanguard Total Stock Market ETF owns 5.11 million shares of the company’s stock, all valued at over $21.82 million. SPDR S&P Oil & Gas Exploration & bought 76660.0 shares to see its total holdings expand to 4.17 million shares valued at over $17.83 million and representing 1.87% of the shares outstanding. iShares Russell 2000 ETF sold 52240.0 shares to bring its total holdings to over 3.57 million shares at a value of $15.26 million. iShares Russell 2000 ETF now owns shares totaling to 1.61% of the shares outstanding.
Shares of Clean Energy Fuels Corp. (NASDAQ: CLNE) opened at $4.63, up $0.06 from a prior closing price of $4.57. However, the script later moved the day high at 4.6406, down -1.75%. The company’s stock has a 5-day price change of 2.98% and -21.09% over the past three months. CLNE shares are trading -13.65% year to date (YTD), with the 12-month market performance down to -8.18% lower. It has a 12-month low price of $3.84 and touched a high of $8.58 over the same period. CLNE has an average intraday trading volume of 2.24 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 4.72%, 4.25%, and -20.75% respectively.
Institutional ownership of Clean Energy Fuels Corp. (NASDAQ: CLNE) shares accounts for 47.70% of the company’s 222.72M shares outstanding. Mutual fund holders own 26.43%, while other institutional holders and individual stakeholders account for 77.71% and 23.00% respectively.
It has a market capitalization of $1.02B and a beta (3y monthly) value of 2.10. The earnings-per-share (ttm) stands at -$0.33. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.18% over the week and 5.17% over the month.
Analysts forecast that Clean Energy Fuels Corp. (CLNE) will achieve an EPS of -$0.03 for the current quarter, -$0.02 for the next quarter and -$0.1 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.11 while analysts give the company a high EPS estimate of $0.01. Comparatively, EPS for the current quarter was $0 a year ago. Earnings per share for the fiscal year are expected to increase by 39.60%, and 37.50% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 11 brokerage firm advisors rate Clean Energy Fuels Corp. (CLNE) as a “Strong Buy” at a consensus score of 1.90. Specifically, 9 Wall Street analysts polled rate the stock as a buy, while 1 of the 11 advise that investors “hold,” and 0 rated it as a “Sell.”
