Clean Energy Fuels Corp (NASDAQ:CLNE) shares, rose in value, with the stock price down by -2.37% to the previous day’s close as strong demand from buyers drove the stock to $2.47.
Actively observing the price movement in the last trading, the stock closed the session at $2.53. The value of beta (5-year monthly) was 2.09. Referring to stock’s 52-week performance, its high was $5.25, and the low was $2.32. On the whole, CLNE has fluctuated by -7.84% over the past month.
With the market capitalization of Clean Energy Fuels Corp currently standing at about $551.40 million, investors are eagerly awaiting this quarter’s results, scheduled for May 07, 2024 – May 13, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.04, which is expected to increase to $0.01 for fiscal year -$0.11 and then to about $0.05 by fiscal year 2025. Data indicates that the EPS growth is expected to be -83.30% in 2025, while the next year’s EPS growth is forecast to be 145.50%.
Analysts have estimated the company’s revenue for the quarter at $99.57 million, with a low estimate of $92.7 million and a high estimate of $112 million. According to the average forecast, sales growth in current quarter could jump down -24.70%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $440.6 million, representing an increase of 3.60% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that CLNE’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of CLNE currently trading nearly -3.57% and -12.24% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 39.93, while the 7-day volatility ratio is showing 3.97% which for the 30-day chart, stands at 4.82%. Furthermore, Clean Energy Fuels Corp (CLNE)’s beta value is 2.07, and its average true range (ATR) is 0.13.
A comparison of Clean Energy Fuels Corp (CLNE) with its peers suggests the former has fared considerably weaker in the market. CLNE showed an intraday change of -2.37% in last session, and over the past year, it shrunk by -41.19%%.
Data on historical trading for Clean Energy Fuels Corp (NASDAQ:CLNE) indicates that the trading volumes over the past 10 days have averaged 1.8 million and over the past 3 months, they’ve averaged 1.66 million. According to company’s latest data on outstanding shares, there are 223.03 million shares outstanding.
Nearly 26.09% of Clean Energy Fuels Corp’s shares belong to company insiders and institutional investors own 49.14% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 13.86 million shares as on Mar 15, 2024, resulting in a short ratio of 7.59. According to the data, the short interest in Clean Energy Fuels Corp (CLNE) stood at 6.21% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 12.56 million. The stock has fallen by -35.51% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the CLNE stock heading into the next quarter.
