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Snag This Bargain Energy Stock Even Cheaper Than Director Herrington Did

There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on March 6, Clean Energy Fuels Corp's Director, John S. Herrington, invested $201,234.00 into 22,000 shares of CLNE, for a cost per share of $9.15. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money.

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In trading on Wednesday, bargain hunters could buy shares of Clean Energy Fuels Corp (CLNE) and achieve a cost basis even cheaper than Herrington, with shares changing hands as low as $9.14 per share. Clean Energy Fuels Corp shares are currently trading up about 0.2% on the day. The chart below shows the one year performance of CLNE shares, versus its 200 day moving average:

Clean Energy Fuels Corp Chart

Looking at the chart above, CLNE's low point in its 52 week range is $8.27 per share, with $14.48 as the 52 week high point — that compares with a last trade of $9.29. By comparison, below is a table showing the prices at which insider buying was recorded over the last six months:

Purchased Insider Title Shares Price/Share Value
11/12/2013 Barclay Corbus SVP, Strategic Development 8,700 $11.54 $100,398.00
11/13/2013 Vincent C. Taormina Director 10,000 $12.25 $122,504.00
12/06/2013 Kenneth M. Socha Director 30 $12.20 $365.97
03/05/2014 Stephen Scully Director 5,000 $9.19 $45,925.50
03/06/2014 John S. Herrington Director 22,000 $9.15 $201,234.00
03/06/2014 Vincent C. Taormina Director 10,000 $9.22 $92,200.00

CLNE makes up 1.35% of the PowerShares WilderHill Progressive Energy Portfolio ETF (PUW)

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