you feel like you have no control, but you doJust be patient. Clean Energy
One year ago, shares of Clean Energy Fuels Corp. (NASDAQ: CLNE) traded at around $2.40. Tuesday, the stock closed at $7.37, a growth rate of more than 200%. Still, that is less than half the February high of nearly $20. Clean Energy, a supplier of natural gas fuels, was among the meme stocks that forced a short squeeze in late January. Since then, short interest dwindled to around 2.5 million shares before rising to nearly 17 million shorted shares in late June. Recent trading in the shares has been only about one-third of the daily average of 16.2 million.
The stock is lightly covered, with just seven surveyed brokerages providing coverage. Four rate the stock a Buy or Strong Buy, with one Hold rating. At a recent price of around $7.40 and based on a median price target of $16, the stock’s upside potential is 116%. At the high price target of $27, the upside potential soars to 265%.
Second-quarter revenue is forecast to total $75.1 million, down about 2.6% sequentially and up more than 25% year over year. Analysts are forecasting a break-even quarter, better than the one-cent loss in the first quarter and a two-cent loss last year. For the full fiscal year, the current forecast calls for adjusted earnings per share (EPS) of $0.02, compared to a loss per share of $0.04 a year ago. Revenue is expected to increase by 3.3% to $301.32 million.
Clean Energy trades at 316.1 times expected 2021 EPS, 245.8 times estimated 2022 earnings and 81.9 times estimated 2023 earnings. The stock’s 52-week trading range is $2.36 to $19.79. Clean Energy does not pay a dividend.