Assenagon Asset Management SA, in its latest filing with the Securities & Exchange Commission, disclosed the acquisition of a new stake in Clean Energy Fuels Corp during the fourth quarter. The investment firm purchased 408,780 shares of Clean Energy Fuels, valued at approximately $1,566,000, representing 0.18% ownership of the company’s stock.
Assenagon Asset Management S.A. joins several other hedge funds and institutional investors who have recently shown interest in Clean Energy Fuels Corp. MetLife Investment Management LLC, White Pine Capital LLC, Price T Rowe Associates Inc. MD, American International Group Inc., and Mariner LLC are among the notable investors who have either increased or reduced their stakes in the company.
As of the current reporting, Clean Energy Fuels Corp. (CLNE) is trading at $2.472 per share. The trading volume stands at 865,897 shares, with an average analyst rating of 1.7, indicating a “Buy” recommendation. Clean Energy Fuels Corp.’s book value is reported at $3.259. Despite a 12-month low of $2.32 and a high of $5.25, the stock’s 50-day moving average price is $2.82, and its two-hundred day moving average price is $3.35.
Clean Energy Fuels reported its quarterly earnings data on Tuesday, February 27th, posting ($0.08) earnings per share (EPS) for the quarter. The company’s revenue for the quarter was $106.86 million, slightly surpassing analysts’ expectations. Analysts anticipate Clean Energy Fuels Corp. to post a negative earnings per share of -0.49 for the current fiscal year.
Several research firms have recently commented on Clean Energy Fuels Corp. Raymond James and Scotiabank have adjusted their price targets, while StockNews.com upgraded Clean Energy Fuels to a “sell” rating. Overall, the stock has an average rating of “Moderate Buy” with a consensus price target of $6.60.
In conclusion, Assenagon Asset Management’s acquisition of a stake in Clean Energy Fuels Corp highlights the growing investor interest in the company amidst market fluctuations and analyst assessments. As Clean Energy Fuels continues to navigate industry challenges and pursue growth opportunities, investor sentiment and market dynamics will likely play a significant role in shaping its future trajectory.
Source: Market Beat
