Today’s big question for investors is, “what’s going on with Clean Energy Fuels Corp. (NASDAQ:CLNE) stock? Its price is jumping 0.06 points, trading at $2.87 levels, and is up 2.14% from its previous close of $2.81. The shares seem to have an active trading volume day with a reported 582286 contracts so far this session. CLNE shares had a relatively better volume day versus average trading capacity of 836.35 thousand shares, but with a 0.14 billion float and a 16.6% 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 per share. This means the stock has a potential increase of 109.06% from where the CLNE share price has been trading recently.
During the recent trading session for Clean Energy Fuels Corp. (NASDAQ:CLNE), the company witnessed their stock rise $0.5 over a week and surge $0.29 from the price 20 days ago. When compared to their established 52-week high of $3.47, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 04/23/19. The recent low of $1.82 stood for a -17.29% since 05/12/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.68 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 73.79. 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 92.43% 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 $2.87/share to $2.94/share level. However, if the stock price goes below the $2.69 mark, then the market for Clean Energy Fuels Corp. becomes much weaker. If that happens, the stock price might even plunge as low as $2.58 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.27. 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 raised their recommendation on shares of CLNE from Underperform to Mkt Perform in their opinion released on February 03. Raymond James analysts have lowered their rating of Clean Energy Fuels Corp. (NASDAQ:CLNE) stock from Mkt Perform to Underperform in a separate flash note issued to investors on July 05. Analysts at Raymond James released an upgrade from Underperform to Mkt Perform for the stock, in a research note that dated back to January 05.
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, 1 rated the stock as a hold while the remaining 2 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 2 analysts rated Clean Energy Fuels Corp. (NASDAQ:CLNE) as a buy or a strong buy while not a single analyst 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 85.15X forward 12-month Consensus EPS estimates, and its P/E ratio is 0 while for the average stock in the same group, the multiple is 12.4. Clean Energy Fuels Corp. current P/B ratio of 1.2 means it is trading at a discount against its industry’s 1.5.
Clean Energy Fuels Corp. (CLNE)’s current-quarter revenues are projected to climb by nearly 12.9% to hit $108630, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over -3.8% from $346420 to a noteworthy $333130. At the other end of the current quarter income statement, Clean Energy Fuels Corp. is expected to see its adjusted earnings surge by roughly 1700% to hit $0.16 per share. For the fiscal year, CLNE’s earnings are projected to climb by roughly 175% to hit $0.06 per share.