Why Clean Energy Fuels Corp. (CLNE) Stock Gained Sharply Today

Clean Energy Fuels Corp. (NASDAQ:CLNE) is one of the best performers on the stock market today. At current price of $2.95, the shares have already added 0.2 points (7.27% higher) from its previous close of $2.75. Should you buy or avoid them? The stock sets an active trading volume day with a reported 1143156 contracts so far this session. CLNE shares had a relatively better volume day versus average trading capacity of 813.32 thousand shares, but with a 0.14 billion float and a 33.5% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for CLNE stock indicates that the average analyst price target is $6.5 per share. This means the stock has a potential increase of 120.34% from where the CLNE share price has been trading recently which is between $2.6 and $2.95. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $6.

The shorts are climbing into Clean Energy Fuels Corp. (CLNE) stock. The latest set of short interest data was released on 28 February 2019, and the numbers show a rise in short interest in CLNE shares. While short interest still represents only 2.2% of CLNE’s float, the number of shares shorted have risen by 37532. The number of shares shorted advanced to 3028408 shares, up from 2990876 shares during the preceding fortnight. With average daily trading volumes at 705922 shares, days to cover decreased to about 7.390152 days.

During the recent trading session for Clean Energy Fuels Corp. (NASDAQ:CLNE), the company witnessed their stock rise $0.88 over a week and surge $1.03 from the price 20 days ago. When compared to their established 52-week high of $4.05, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 06/27/18. The recent low of $1.46 stood for a -27.14% since 03/19/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 2.07 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.

Looking at the current readings for Clean Energy Fuels Corp., the two-week RSI stands at 75.07. This figure suggests that CLNE stock, for now, is oversold, meaning that the shares are not stable in terms of price movement. The stochastic readings, on the other hand, based on the current CLNE readings is similarly very revealing as it has a stochastic reading of 91.75% at this stage. This figure means that CLNE share price today is being oversold.

Technical chart claims that Clean Energy Fuels Corp. (CLNE) would settle between $2.93/share to $3.12/share level. However, if the stock price goes below the $2.58 mark, then the market for Clean Energy Fuels Corp. becomes much weaker. If that happens, the stock price might even plunge as low as $2.42 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.47. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.

Analysts at Raymond James lowered their recommendation on shares of CLNE from Mkt Perform to Underperform in their opinion released on July 05. Raymond James analysts bumped their rating on Clean Energy Fuels Corp. (NASDAQ:CLNE) stock from Underperform to Mkt Perform in a separate flash note issued to investors on January 05. Analysts at Northland Capital are sticking to their Market Perform stance. However, on October 24, they lifted price target for these shares to $6 from $10.

CLNE equity has an average rating of 2.67, with the figure leaning towards a bullish end. 3 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 3 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while others rated it as a sell. 2 analysts rated Clean Energy Fuels Corp. (NASDAQ:CLNE) as a buy or a strong buy while 1 advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.

Moving on, CLNE stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/S ratio is 0.99 while for the average stock in the same group, the multiple is 1.1. Clean Energy Fuels Corp. current P/E ratio of 15.56 means it is trading at a discount against its industry’s 22.44. In the past 5 years, this ratio for the stock has been fluctuating between 0 and 0.