Clean Energy Fuels screens as statistically cheap and shows early signs of a technical recovery, but weak business quality, cash burn, and elevated leverage keep the recommended position size at essentially zero despite a large nominal upside gap to the analyst target.
Thesis pillars
- Value Re Rating On Forward Earnings↓Deteriorating
- Technical Recovery From Death Cross→Stable
- Quality Deficit Below Investment Floor→Stable
- +2 more pillars — see the Why tab for full reasoning
Clean Energy Fuels Corp. (CLNE) Stock Analysis
Falling Knife setup · Inst Constrain edge
Energy · Oil & Gas Refining & Marketing
Hold if already holding. Not a fresh buy at $1.80, but acceptable to hold if already in. Reasons: Market cap $384M below $400M minimum; Value-trap signals (2/5): High leverage (D/E 1.8), Negative free cash flow.
Clean Energy Fuels procures and distributes renewable natural gas (RNG) and conventional natural gas as CNG and LNG vehicle fuel for heavy- and medium-duty fleets across the U.S. and Canada, operating 582 U.S. fueling stations (over 200 in California) and 27 in Canada as of... Read more
Hold if already holding. Not a fresh buy at $1.80, but acceptable to hold if already in. Reasons: Market cap $384M below $400M minimum; Value-trap signals (2/5): High leverage (D/E 1.8), Negative free cash flow. Chart setup: Death cross, below all MAs, RSI 35, MACD bearish. Market cap $384M below $400M minimum. Not in investable universe. Score 5.0/10, moderate confidence.
Passes 8/10 gates (positive momentum, favorable risk/reward ratio, clean insider activity, no SEC red flags, news events none recent, earnings proximity 83d clear, semi cycle peak clear, materials cycle peak clear). Fails on death cross (50MA < 200MA). Suitability: speculative.
About Clean Energy Fuels Corp.
About Clean Energy Fuels Corp.
Clean Energy Fuels sold 468 million gasoline gallon equivalents of RNG, CNG and LNG as vehicle fuel in 2025, delivered through 582 fueling stations across 43 U.S. states and the District of Columbia plus 27 stations in Canada. The company says it provided roughly 50% of the RNG used for transportation fuel in California and 32% nationally in 2025, serving over 1,200 fleet customers operating more than 65,000 vehicles on its fuels.
Clean Energy earns revenue from vehicle fuel sales, station construction and operations-and-maintenance contracts, and the sale of federal RIN and state LCFS Environmental Credits generated when it dispenses RNG as vehicle fuel; credit prices were volatile in 2025, with RINs ranging $2.05-$2.50 and LCFS credits $40.00-$75.50. RNG grew to 88% of vehicle fuel sales in 2025, sourced both from company-developed dairy digester projects and from over 150 third-party supply sources, with third-party RNG split 40% anaerobic digester gas and 60% landfill gas. Production capacity is expanded through joint ventures with TotalEnergies (one project in operation) and bp (five projects operating, one under construction), plus a joint development agreement with Maas Energy Works for additional dairy digester projects, and a Tourmaline Oil joint venture operating four CNG stations in Western Canada. The company's biggest fuel competitor remains diesel, followed by other alternative fuels such as renewable diesel, biodiesel and ethanol.
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Clean Energy's own risk factors single out a narrow set of external dependencies that could move results more than typical diversification would allow: engine availability for its vehicle fuels rests on a small number of manufacturers, chiefly Cummins, and the company warns that partners including TotalEnergies, bp and Chevron reallocating resources away from RNG would have a material adverse effect on its plans. The RNG supply itself leans toward landfill gas, at 60% of third-party sourced volume in 2025, even as the company frames higher-value dairy-waste feedstock as the larger untapped opportunity. A CEO transition in April 2026, when Barclay Corbus succeeded long-time chief executive Andrew Littlefair, adds near-term execution uncertainty on top of these structural exposures.
See also: Energy · Oil & Gas Refining & Marketing
From Clean Energy Fuels Corp.'s most recent 10-K filing, extracted July 6, 2026.
Recent developments
updated 2026-08-14Recent Developments — Clean Energy Fuels Corp.
Latest news
- NEWS Clean Energy Fuels Form4 Filing Shows CEO Barclay Corbus Buys 25,000 Shares At $1.62 Average Price — benzinga Aug 10, 2026
- NEWS Clean Energy Fuels Q2 Adj. EPS $(0.01), Inline, Sales $106.359M Miss $111.931M Estimate — benzinga Aug 6, 2026
- NEWS Clean Energy Fuels Announces New Fueling And Maintenance Agreements Across Western Canada; Terms Not Disclosed — benzinga Aug 4, 2026
- NEWS Clean Energy Fuels Awarded $27.5M Contract For New Private Hydrogen Fueling Station By Orange County, California — benzinga Jul 30, 2026 positive
- NEWS Fermi, Delta Air Lines And Other Big Stocks Moving Lower In Friday’s Pre-Market Session — benzinga Jul 10, 2026 neutral
Generated 2026-08-14T11:47:19Z.
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Rating Breakdown
3 floor-breakers·1 ceiling hit
Ranks in the bottom of its industry peers on the composite signal. Better names in the same sector exist.static
Cyclical trough — margins compressed or negative. Profitability typically recovers with the cycle, but floor fires on current data.static
Growth below the gate floor. Component breakdown shows what dragged the score down.static
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Hold if already holding. Not a fresh buy at $1.80, but acceptable to hold if already in. Reasons: Market cap $384M below $400M minimum; Value-trap signals (2/5): High leverage (D/E 1.8), Negative free cash flow. Chart setup: Death cross, below all MAs, RSI 35, MACD bearish. Market cap $384M below $400M minimum. Not in investable universe. Target $3.78 (+110.0%), stop $1.66 (−8.4%), A.R:R 8.6:1. Score 5.0/10, moderate confidence.
Take-profit target: $3.78 (+111.0% upside). Target $3.78 (+110.0%), stop $1.66 (−8.4%), A.R:R 8.6:1. Stop-loss: $1.66.
Market cap $384M below $400M minimum; Value-trap signals (2/5): High leverage (D/E 1.8), Negative free cash flow.
Clean Energy Fuels Corp. trades at a P/E of N/A (forward -53.5). TrendMatrix value score: 7.3/10. Verdict: Hold.
13 analysts cover CLNE with a consensus score of 4.1/5. Average price target: $4.
What does Clean Energy Fuels Corp. do?Clean Energy Fuels procures and distributes renewable natural gas (RNG) and conventional natural gas as CNG and LNG...
Clean Energy Fuels procures and distributes renewable natural gas (RNG) and conventional natural gas as CNG and LNG vehicle fuel for heavy- and medium-duty fleets across the U.S. and Canada, operating 582 U.S. fueling stations (over 200 in California) and 27 in Canada as of December 31, 2025. Revenue comes from fuel sales, station construction and maintenance, and sales of federal RIN and state LCFS credits generated when RNG is sold as vehicle fuel; RNG made up 88% of 2025 vehicle fuel sales.