CLNE Current Price $8.10 Price Target
Clean Energy Fuels is an alternative fuel company.They provide natural gas alternatives for vehicle fleets. Their key markets are in the US and Canada. CLNE supplies renewable natural gas, compressed natural gas, and liquefied natural gas.For the year ended December 31, 2020, the company served 1,000 fleet customers operating an impressive 48,000 vehicles while and owning, operating, or supplying 565 fueling stations in 39 states in the United States with 5 provinces in Canada.The company uses the biogas from the decomposition of organic waste to manufacture biofuel. The process is lengthy but it yields numerous useful byproducts.The bulk of the business is still heavy-duty trucking, which is a good stable source of revenue but the gold mine for H2 fuelers will always be widespread adoption of fuel cell personal vehicles. They have struck deals with very big and reputable companies such as Amazon, Chevron and BP to provide RNG. The chart looks very clean as we have confirmed $7.30 as a support level and should trade up to the top line of resistance around $10 relatively quickly.
Clean Energy Fuels is an alternative fuel company.They provide natural gas alternatives for vehicle fleets. Their key markets are in the US and Canada. CLNE supplies renewable natural gas, compressed natural gas, and liquefied natural gas.For the year ended December 31, 2020, the company served 1,000 fleet customers operating an impressive 48,000 vehicles while and owning, operating, or supplying 565 fueling stations in 39 states in the United States with 5 provinces in Canada.The company uses the biogas from the decomposition of organic waste to manufacture biofuel. The process is lengthy but it yields numerous useful byproducts.The bulk of the business is still heavy-duty trucking, which is a good stable source of revenue but the gold mine for H2 fuelers will always be widespread adoption of fuel cell personal vehicles. They have struck deals with very big and reputable companies such as Amazon, Chevron and BP to provide RNG. The chart looks very clean as we have confirmed $7.30 as a support level and should trade up to the top line of resistance around $10 relatively quickly.