On Dec. 22, Clean Energy Fuels stock rose by 38.1 percent, while the S&P 500 fell by 0.2 percent. The stock was up $2.26 from its previous closing price of $5.94 on a volume of 25,377,282 shares. Over the past year, the S&P 500 has risen by 14.4 percent, while Clean Energy Fuels stock has gained 249 percent. Is Clean Energy Fuels stock a good investment at this price?
Clean Energy Fuels stock is surging this week after the company announced a fuel and infrastructure deal with Total SE. The two companies will create a 50/50 joint venture to develop RNG (renewable natural gas) production facilities in the U.S. Credit Energy Fuels will provide $30 million to the joint venture, while Total will provide $50 million.
Clean Energy Fuels has three subsidiaries
Clean Energy Fuels has three subsidiaries — Clean Energy Renewables, Clean Energy Cryogenics, and NG Advantage. Clean Energy Renewables is the distributor of Redeem, which is the first renewable fuel for commercial vehicles. NG Advantage delivers natural as by virtual pipeline. Clean Energy Cryogenics provides LNG (Liquefied Natural Gas) and LCNG (Liquefied to Compressed Natural Gas) combination fueling facilities.
Clean Energy Fuels on Stocktwits
Clean Energy Fuels stock has become a major talking point on social media platforms. An investor named StoneTradeWise on Stocktwits expects Clean Energy Fuels stock to witness a massive sell-off and profit booking resulting in price drops. The investor added that Clean Energy Fuels is still the same company is was earlier.
Clean Energy Fuels doesn't pay dividends
Currently, Clean Energy Fuels doesn't pay a dividend.
Clean Energy Fuels $CLNE and a subsidiary of $BP today entered into a memorandum of understanding to develop new renewable natural gas facilities at dairies and other agriculture facilities that will produce "one of the cleanest fuels in the world."— Stock Market News (@StockMKTNewz) December 21, 2020
Clean Energy Fuels' stock forecast
As of 9:16 a.m. ET in pre-market trading on Dec. 23, Clean Energy Fuels stock was up by about 28.1 percent at $10.50. The stock has risen by 83.5 percent in the last five days and 248.9 percent in the last year. The stock is trading 1.8 percent below its 52-week high of $8.35 and 681 percent above its 52-week low of $1.05.
According to estimates compiled by CNN, analysts' median target price is $7.50 for Clean Energy Fuels, which is 8.5 percent below its current stock price. Among the three analysts tracking Clean Energy Fuels, two recommend a buy, one recommends a hold, and none recommend a sell. The highest target price of $9 is 9.8 percent above the stock's current price, while the lowest target of $6 is 26.8 percent below the stock's current price.
Should I buy Clean Energy Fuels stock?
Clean Energy Fuels stock looks like a buy due to the company’s promising outlook. Clean Energy Fuels provides natural gas as an alternative fuel for vehicles in the U.S. and Canada. The company will likely benefit from the Biden administration’s focus on clean energy. Clean Energy Fuels will also benefit from new deals with energy companies like Total SE and BP.