Clean Energy Fuels Corp. (CLNE) Posts Quarterly Earnings Results, Misses Expectations By $0.49 EPS
Clean Energy Fuels Corp. (NASDAQ:CLNE) issued its quarterly earnings data on Thursday. The utilities provider reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.49), Bloomberg Earnings reports. Clean Energy Fuels Corp. had a net margin of 7.24% and a return on equity of 5.14%. The business had revenue of $81.80 million for the quarter, compared to analysts’ expectations of $85.43 million. During the same quarter in the prior year, the company posted ($0.08) EPS. The business’s revenue for the quarter was down 15.7% on a year-over-year basis.
In other news, CEO Andrew J. Littlefair purchased 43,000 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was purchased at an average cost of $2.29 per share, with a total value of $98,470.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,355,167 shares of the company’s stock, valued at approximately $3,103,332.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Robert M. Vreeland bought 11,500 shares of the stock in a transaction on Friday, August 11th. The shares were bought at an average price of $2.32 per share, for a total transaction of $26,680.00. Following the completion of the transaction, the chief financial officer now directly owns 170,654 shares of the company’s stock, valued at approximately $395,917.28. The disclosure for this purchase can be found here. Insiders bought 64,500 shares of company stock valued at $148,050 over the last ninety days. Corporate insiders own 26.69% of the company’s stock.
CLNE has been the subject of a number of research analyst reports. BidaskClub lowered Clean Energy Fuels Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Zacks Investment Research raised Clean Energy Fuels Corp. from a “hold” rating to a “buy” rating and set a $2.75 price target on the stock in a research report on Monday, August 7th.
About Clean Energy Fuels Corp.
Clean Energy Fuels Corp. (Clean Energy) is a provider of natural gas as an alternative fuel for vehicle fleets in the United States and Canada. The Company is engaged in supplying compressed natural gas (CNG), liquefied natural gas (LNG) and renewable natural gas (RNG) for light, medium and heavy-duty vehicles, and providing operation and maintenance (O&M) services for natural gas fueling stations.
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