Clean Energy Fuels Gets a Major Vote of Confidence

By Taylor Muckerman and Erin Kennedy – Sep 18, 2013 at 2:36PM

NASDAQ: CLNE

Clean Energy Fuels

Market Cap

$511M

Today's Change

(-0.87%) -$0.02

Current Price

$2.29

Price as of April 24, 2024, 4:00 p.m. ET

The stock's underperformed over the last five years, but the CEO just increased his holdings.

Clean Energy Fuels (CLNE -0.87%) has jumped more than 7% during trading over Tuesday and Wednesday as investors applaud two major catalysts for the stock.

For one, CEO Andrew Littlefair just purchased 127,000 shares, valued at approximately $1.6 million. Investors always like to see management with skin in the game, so to speak. It's a vote of confidence in the company and also aligns CEOs with shareholders' interests.

Additionally, the company announced a joint venture with industrial giant General Electric (GE -2.11%) to develop liquefied natural gas projects throughout the United States. Motley Fool analyst Taylor Muckerman appreciates the CEO's display of confidence, and sees the deepening relationship between GE and Clean Energy Fuels as mutually beneficial. However, Clean Energy Fuels has a bumpy history and has underperformed the market for years. Taylor likes this stock despite its volatility, and believes this stock is a long-term energy play.

Erin Kennedy has no position in any stocks mentioned. Taylor Muckerman has no position in any stocks mentioned. The Motley Fool recommends Clean Energy Fuels, Cummins, and Westport Innovations. The Motley Fool owns shares of Cummins, General Electric, and Westport Innovations. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.