Clean Energy Fuels Corp (NASDAQ:CLNE) gapped down prior to trading on Wednesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $1.59, but opened at $1.49. Clean Energy Fuels shares last traded at $1.44, with a volume of 2861624 shares trading hands.
The utilities provider reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.08). The company had revenue of $89.30 million during the quarter, compared to the consensus estimate of $83.77 million. Clean Energy Fuels had a negative return on equity of 10.52% and a negative net margin of 15.47%. The firm’s quarterly revenue was down 12.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.02) EPS.
A number of analysts recently issued reports on the stock. BidaskClub lowered shares of Clean Energy Fuels from a “sell” rating to a “strong sell” rating in a research note on Tuesday, January 9th. Zacks Investment Research lowered shares of Clean Energy Fuels from a “hold” rating to a “sell” rating in a research note on Tuesday, January 9th.
The firm has a market capitalization of $220.59, a price-to-earnings ratio of -3.89 and a beta of 1.60. The company has a quick ratio of 3.05, a current ratio of 3.52 and a debt-to-equity ratio of 0.48.
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Clean Energy Fuels Company Profile
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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