Clean Energy Fuels Corp. (CLNE): What Technical Indicators Show


Clean Energy Fuels Corp. (NASDAQ:CLNE) saw a downside of -0.87% to close Tuesday at $5.73 after subtracting -$0.05 on the day. The 5-day average trading volume is 1,927,160 shares of the company’s common stock. It has gained $5.97 in the past week and touched a new high 1 time within the past 5 days. An average of 1,787,575 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 2,024,498.

CLNE’s 1-month performance is 1.78% or $0.37 on its low of $5.03 reached on 01/05/23. The company’s shares have touched a 52-week low of $4.02 and high of $8.65, with the stock’s rally to the 52-week high happening on 01/17/23. YTD, CLNE has achieved 10.19% or $0.53 and has reached a new high 4 times. However, the current price is down -33.77% from the 52-week high price.

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Insider Transactions

CLNE stock investors last saw insider trading activity on Jan 23.Pratt Mitchell W (COO AND SECRETARY) most recently sold 8,140 shares at $5.57 per share on Jan 23. This transaction cost the insider $45,307. SVP, STRATEGIC DEVELOPMENT, Corbus Barclay, sold 11,286 shares at a price of $5.49 on Jan 23. Then, on Nov 14, CEO AND PRESIDENT Littlefair Andrew J sold 200,000 shares at a price of $7.33 per share. This transaction amounted to $1,465,280.

Valuation Metrics

CLNE stock has a beta of 2.23. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 3.15 while the price-to-book (PB) in the most recent quarter is 1.77, with the price to cash flow ratio at 152.88.

Clean Energy Fuels Corp.’s quick ratio for the period ended June 29 was 2.40, with the current ratio over the same period at 2.70. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.04, while the total debt to equity was 0.04.. In terms of profitability, the gross margin trailing 12 months is 28.20%. The firm’s gross profit as reported stood at $40.04 million against revenue of $255.65 million.

Earnings Surprise

For the quarterly period ending June 29 this year, Clean Energy Fuels Corp.’s cash and short-term investments amounted to $110.99 million against total debt of $78.18 million. Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 56.19% to -$8.97 million, while revenue of -$13.24 million was -47.6% off the previous quarter. Analysts expected CLNE to announce -$0.03 per share in earnings in its latest quarter, but it posted $0, representing a 100.00% surprise. EBITDA for the quarter stood at more than $11.36 million. CLNE stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 212.72 million, with total debt at $78.18 million. Shareholders hold equity totaling $222.43 million.

Let’s look briefly at Clean Energy Fuels Corp. (CLNE) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 24 January was 55.82% to suggest the stock is trending Neutral, with historical volatility in this time period at 47.74%.

The stock’s 5-day moving average is $5.60, reflecting a -2.55% or -$0.15 change from its current price. CLNE is currently trading +7.71% above its 20-day SMA, -13.44% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -17.79% and SMA200 by-26.25%.

Stochastic %K and %D was 66.62% and 56.88% and the average true range (ATR) pointed at 0.28. The RSI (14) points at 52.37%, while the 14-day stochastic is at 72.88% with the period’s ATR at 0.29. The stock’s 9-day MACD Oscillator is pointing at -0.02 and 0.11 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for Clean Energy Fuels Corp. (NASDAQ: CLNE), UBS launched coverage with a Buy rating. Analysts offering their rating for CLNE stock have a consensus rating for the stock as Buy. Currently, 0 brokerage advisors rate CLNE as a “sell,”, while 2 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 9 have offered a “buy” rating.

What is CLNE’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $7.00 and a high of $27.00, with their median price target at $11.50. Looking at these predictions, the average price target given by analysts is for Clean Energy Fuels Corp. (CLNE) stock is $13.05.


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