Clean Energy Fuels Corp. (NASDAQ: CLNE) stock fell -0.87% on Tuesday to $5.73 against a previous-day closing price of $5.78. With 1.95 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.21 million shares. During the session, the Oil & Gas Refining & Marketing company that operates in wider Energy sector, reached to the highest price of $5.92 whereas the lowest price it dropped to was $5.62. The 52-week range on CLNE shows that it touched its highest point at $8.65 and its lowest point at $4.02 during that stretch. It currently has a 1-year price target of $13.05. Beta for the stock currently stands at 2.23.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CLNE was down-trending over the past week, with a drop of -2.55%, but this was up by 1.78% over a month. Three-month performance dropped to -13.57% while six-month performance rose 4.18%. The stock gained 11.48% in the past year, while it has gained 10.19% so far this year. A look at the trailing 12-month EPS for CLNE yields -0.22 with Next year EPS estimates of 0.00. EPS is expected to grow by 15.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -33.80%.
Float and Shares Shorts:
At present, 222.24 million CLNE shares are outstanding with a float of 176.11 million shares on hand for trading. On Oct 13, 2022, short shares totaled 13.31 million, which was 5.99% higher than short shares on Sep 14, 2022. In addition to Mr. Andrew J. Littlefair as the firm’s Co-Founder, Pres, CEO & Director, Mr. Robert M. Vreeland serves as its Chief Financial Officer.
Through their ownership of 46.56% of CLNE’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 77.85% of CLNE, in contrast to 27.53% held by mutual funds. Shares owned by individuals account for 19.71%. As the largest shareholder in CLNE with 5.72% of the stake, Grantham, Mayo, Van Otterloo & Co holds 12,731,663 shares worth 12,731,663. A second-largest stockholder of CLNE, BlackRock Fund Advisors, holds 10,665,651 shares, controlling over 4.80% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in CLNE, holding 9,326,487 shares or 4.19% stake. With a 2.86% stake in CLNE, the SPDR S&P Oil & Gas Exploration & is the largest stakeholder. A total of 6,351,839 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 2.26% of CLNE stock, is the second-largest Mutual Fund holder. It holds 5,028,302 shares valued at 26.15 million. GMO Resources Fund holds 2.20% of the stake in CLNE, owning 4,898,666 shares worth 25.47 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CLNE since 11 analysts follow the stock currently. There are 9 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 2 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With CLNE analysts setting a high price target of $27.00 and a low target of $7.00, the average target price over the next 12 months is $13.05. Based on these targets, CLNE could surge 371.2% to reach the target high and rise by 22.16% to reach the target low. Reaching the average price target will result in a growth of 127.75% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. CLNE will report FY 2022 earnings on 02/23/2024. Analysts have provided yearly estimates in a range of $0.05 being high and -$0.01 being low. For CLNE, this leads to a yearly average estimate of $0.02. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Clean Energy Fuels Corp. surprised analysts by $0.02 when it reported $0.06 EPS against a consensus estimate of $0.04. The surprise factor in the prior quarter was $0.02. Based on analyst estimates, the high estimate for the next quarter is $0.04 and the low estimate is -$0.04. The average estimate for the next quarter is thus $0.01.
Summary of Insider Activity:
Insiders traded CLNE stock several times over the past three months with 2 Buys and 1 Sells. In these transactions, 300 shares were bought while 200,000 shares were sold. The number of buy transactions has increased to 5 while that of sell transactions has risen to 1 over the past year. The total number of shares bought during that period was 89,406 while 200,000 shares were sold.