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Clean Energy Fuels (CLNE) Moves 13.7% Higher: Will This Strength Last?

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Clean Energy Fuels (CLNE - Free Report) shares ended the last trading session 13.7% higher at $9.28. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 0.6% gain over the past four weeks.

Clean Energy Fuel continues to gain by meeting customer’s zero carbon fuel requirements by suppling renewable natural gas (‘RNG’). Company’s systematic investment in production, distribution and fueling stations nationwide has uniquely positioned it to provide clean energy solutions for heavy duty vehicles.

The company’s infrastructure is ready for green hydrogen and it can modify many of its existing stations to deliver hydrogen to our customers. Its partnership with global energy leader for further development of RNG, will provide a cost effective way to further lower carbon emission.

This provider of natural gas as an alternative fuel for vehicle fleets is expected to post quarterly earnings of $0.01 per share in its upcoming report, which represents a year-over-year change of +200%. Revenues are expected to be $88.3 million, up 24.6% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

For Clean Energy Fuels, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on CLNE going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank 3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

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