Clean Energy Fuels Corp (NASDAQ: CLNE) In 2024: Will It Be Worth Investing In?

In the last trading session, 1.81 million shares of the Clean Energy Fuels Corp (NASDAQ:CLNE) were traded, and its beta was 2.06. Most recently the company’s share price was $2.68, and it changed around $0.05 or 1.90% from the last close, which brings the market valuation of the company to $598.28M. CLNE currently trades at a discount to its 52-week high of $5.25, offering almost -95.9% off that amount. The share price’s 52-week low was $2.32, which indicates that the current value has risen by an impressive 13.43% since then. We note from Clean Energy Fuels Corp’s average daily trading volume that its 10-day average is 1.88 million shares, with the 3-month average coming to 1.65 million.

Clean Energy Fuels Corp stock received a consensus recommendation rating of Buy, based on a mean score of 1.22. If we narrow it down even further, the data shows that 0 out of 11 analysts rate the stock as a Sell; another 4 rate it as Overweight. Among the rest, 1 recommended CLNE as a Hold, whereas 6 deemed it a Buy, and 0 rated it as Underweight. Clean Energy Fuels Corp is expected to report earnings per share of -$0.04 for the current quarter.

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Clean Energy Fuels Corp (NASDAQ:CLNE) trade information

Instantly CLNE has showed a green trend with a performance of 1.90% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently down -30.03% year-to-date, but still up 4.69% over the last five days. On the other hand, Clean Energy Fuels Corp (NASDAQ:CLNE) is -8.22% down in the 30-day period. We can see from the shorts that 13.86 million shares have been sold at a short interest cover period of 7.59 day(s).

The consensus price target as assigned by Wall Street analysts is $6, which translates to bulls needing to increase their stock price by 55.33% from its current value. Analyst projections state that CLNE is forecast to be at a low of $6 and a high of $6.

Clean Energy Fuels Corp (CLNE) estimates and forecasts

Clean Energy Fuels Corp share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -28.34 percent over the past six months and at a 16.67% annual growth rate that is well above the industry average of -1.10%. The year-over-year growth rate is expected to be 3.50%, up from the previous year.

Consensus estimates provided by 7 financial analysts predict the company will bring in an average of $98.93 million in revenue for the current quarter. 7 analysts expect Clean Energy Fuels Corp to make $106.25 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $132.18 million and $90.55 million respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -25.20%. Forecasts for the next quarter put sales growth at 17.30%.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -84.29%.

CLNE Dividends

Clean Energy Fuels Corp’s next quarterly earnings report is expected to be released around May 07 and May 13.

Clean Energy Fuels Corp (NASDAQ:CLNE)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 21.11% of Clean Energy Fuels Corp shares, and 51.09% of them are in the hands of institutional investors. The stock currently has a share float of 64.77%. Clean Energy Fuels Corp stock is held by 291 institutions, with Grantham, Mayo, Van Otterloo & Co. LLC being the largest institutional investor. By Jun 29, 2023, it held 6.30% of the shares, which is about 14.04 million shares worth $69.64 million.

Blackrock Inc., with 6.06% or 13.52 million shares worth $67.07 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF were the top two Mutual Funds as of Jun 29, 2023. The former held 5.11 million shares worth $25.34 million, making up 2.29% of all outstanding shares. On the other hand, iShares Russell 2000 ETF held roughly 3.86 million shares worth around $16.46 million, which represents about 1.73% of the total shares outstanding.