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.
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:
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:
|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|
|03/06/2014||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|