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Clean Energy Fuels (NASDAQ: CLNE) has signed an agreement with the Metropolitan Transit Authority of Harris County, Texas, to build its first private compressed natural gas (CNG) fueling station. This station will serve 120 of METRO's new CNG-powered buses operating in Houston.
HOUSTON & NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Clean Energy Fuels Corp. (NASDAQ: CLNE), the largest provider of the cleanest fuel for the transportation market, has announced a new agreement with the Metropolitan Transit Authority of Harris County (METRO), the region's largest public transport provider, to build the agency's first private compressed natural gas (CNG) fueling station. The new state-of-the-art facility will be the first of its kind and will exclusively serve up to 120 of METRO.
Clean Energy Fuels (CLNE) has been upgraded to a Zacks Rank #1 (Strong Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
CLNE and STEP made it to the Zacks Rank #1 (Strong Buy) momentum stocks list on August 21, 2024.
NFG, CLNE, FLIC, FMBH and ULS have been added to the Zacks Rank #1 (Strong Buy) List on August 21, 2024.
The company reported a GAAP net loss of $(0.07) per share. Revenue was $98.0 million, up from $90.5 million in Q2 2023.
The headline numbers for Clean Energy Fuels (CLNE) give insight into how the company performed in the quarter ended June 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Clean Energy Fuels (CLNE) came out with quarterly earnings of $0.01 per share, beating the Zacks Consensus Estimate of a loss of $0.04 per share. This compares to break-even earnings per share a year ago.
Clean Energy Fuels (CLNE) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #1 (Strong Buy).
The heavy selling pressure might have exhausted for Clean Energy Fuels (CLNE) as it is technically in oversold territory now. In addition to this technical measure, strong agreement among Wall Street analysts in revising earnings estimates higher indicates that the stock is ripe for a trend reversal.