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One energy player that insiders are snapping up a big amount of stock in here is
Clean Energy Fuels (
CLNE), which is engaged in the business of selling natural gas fueling solutions to its customers mainly in the U.S. and Canada. Insiders are buying this stock into modest strength, since shares are up 6.1% so far in 2013.
Clean Energy Fuels has a market cap of $1.18 billion and an enterprise value of $1.35 billion. This stock trades at a reasonable valuation, with a price-to-sales of 3.15 and a price-to-book of 2.11. Its estimated growth rate for this year is 46.7%, and for next year it's pegged at -27.5%. This is not a cash-rich company, since the total cash position on its balance sheet is $148.26 million and its total debt is $368.13 million.
>>5 Stocks Ready for Breakouts
The CEO just
bought 127,000 shares, or about $1.61 million worth of stock, at $12.69 per share.
From a technical perspective, CLNE is currently trending above both its 50-day and 200-day moving averages, which is bullish. This stock has just started to trend back above both of those key moving averages with decent upside volume flows. That move is quickly pushing shares of CLNE within range of triggering a near-term breakout trade.
If you're bullish on CLNE, then I would look for long-biased trades as long as this stock is trending above its 50-day at $12.79 or above more support at $12.20, and then once it breaks out above some near-term overhead resistance at $13.58 a share with high volume. Look for a sustained move or close above that level with volume that hits near or above its three-month average action of 942,047 shares. If that breakout hits soon, then CLNE will set up to re-test or possibly take out its next major overhead resistance levels at $14.48 to its 52-week high at $14.82 a share. Any high-volume move above those levels will then give CLNE a chance to tag $17 to $18.