Clean Energy Fuels Corp.: How Does CLNE Perform?

The trading price of Clean Energy Fuels Corp. (NASDAQ:CLNE) closed lower on Monday, August 22, closing at $7.41, -0.94% lower than its previous close.

Traders who pay close attention to intraday price movement should know that it fluctuated between $7.265 and $7.57. In examining the 52-week price action we see that the stock hit a 52-week high of $9.69 and a 52-week low of $4.02. Over the past month, the stock has gained 37.22% in value.

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Clean Energy Fuels Corp., whose market valuation is $1.73 billion at the time of this writing, is expected to release its quarterly earnings report Nov 02, 2022 – Nov 07, 2022. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by -$0.03 per share this quarter, however they have predicted annual earnings per share of -$0.07 for 2022 and -$0.07 for 2023. It means analysts are expecting annual earnings per share growth of -275.00%.

Analysts have forecast the company to bring in revenue of $102.51 million for the current quarter, with the likely lows of $77.85 million and highs of $120.4 million. The average estimate suggests sales will likely up by 35.00% this quarter compared to what was recorded in the comparable quarter last year. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue in 2022 is $434.78 million. The company’s revenue is forecast to grow by 70.10% over what it did in 2022.

A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of Clean Energy Fuels Corp. No upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest CLNE has a 100% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 50% Sell, while an average of long term indicators suggests that the stock is currently 50% Buy.

A quick review shows that CLNE’s price is currently 5.20% off the SMA20 and 26.69% off the SMA50. The RSI metric on the 14-day chart is currently showing 57.36, and weekly volatility stands at 5.14%. When measured over the past 30 days, the indicator reaches 6.28%. Clean Energy Fuels Corp. (NASDAQ:CLNE)’s beta value is currently sitting at 2.08, while the Average True Range indicator is currently displaying 0.43.

To see how Clean Energy Fuels Corp. stock has been performing in comparison to its peers in the industry, here are the numbers: CLNE stock’s performance was -0.94% in the latest trading, and 8.97% in the past year, while Murphy USA Inc. (MUSA) has traded -0.51% on the day and positioned 90.03% higher than it was a year ago. Another comparable company MDU Resources Group Inc. (MDU) saw its stock close -1.91% lower in the most recent trading session but was down -3.46% in a year. Furthermore, Republic Services Inc. (RSG) showed a decrease of -0.06% on the day while its price kept inclining at 19.86% over the past year. Also in last trading session, the S&P 500 Index has plunged -2.14%, while the Dow Jones Industrial also saw a negative session, down -1.91% on the day.

An evaluation of the daily trading volume of Clean Energy Fuels Corp. (NASDAQ:CLNE) indicates that the 3-month average is 3.77 million. However, this figure has increased over the past 10 days to an average of 3.19 million.

Currently, records show that 222.43 million of the company’s shares remain outstanding. The insiders hold 0.70% of outstanding shares, whereas institutions hold 46.90%. The stats also highlight that short interest as of Jul 28, 2022, stood at 15.08 million shares, resulting in a short ratio of 5 at that time. From this, we can conclude that short interest is 6.78% of the company’s total outstanding shares. It is noteworthy that short shares in July were up slightly from the previous month’s figure, which was 14.48 million. However, since the stock’s price has seen 20.88% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.

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