Top Buys by Directors: Mitchell's $205.5K Bet on CLNE

The directors of a company tend to have a unique inside view into the business, so when directors make major buys, investors are wise to take notice. Presumably the only reason a director of a company would choose to take their hard-earned cash and use it to buy stock in the open market, is that they expect to make money — maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So in this series we look at the largest insider buys by company directors over the trailing six month period, one of which was a total of $205.5K by Warren I. Mitchell, Director at Clean Energy Fuels Corp (CLNE).

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Mitchell bets big on CLNE:
Purchased Insider Title Shares Price/Share Value
06/04/2014 Warren I. Mitchell Director 20,000 $10.27 $205,462.00

Mitchell's average cost works out to $10.27/share. In trading on Thursday, bargain hunters could buy shares of Clean Energy Fuels Corp ( CLNE) and achieve a cost basis lower than Mitchell, with shares changing hands as low as $8.97 per share. Shares of Clean Energy Fuels Corp were changing hands at $9.06 at last check, trading down about 1.1% on Thursday. 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 $14.05 as the 52 week high point — that compares with a last trade of $9.06.

According to the ETF Finder at ETF Channel, CLNE makes up 1.47% of the PowerShares WilderHill Progressive Energy Portfolio ETF ( PUW) which is trading lower by about 0.3% on the day Thursday.

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