REX - The Plunge Continues For Clean Energy Fuels
2024-06-20 14:34:00 ET
Summary
- Shares of Clean Energy Fuels continue to fall after a mixed 2023 fiscal year and in spite of recent bottom line strength.
- 2024 is looking like it will be a mixed year, though EBITDA should rise year-over-year.
- Management is investing in growth initiatives, but profitability remains a concern, making it premature to be optimistic.
Around the middle of December of last year, I decided to take a dive into a rather interesting energy company by the name of Clean Energy Fuels Corp. ( CLNE ). At that time, shares of the company were down about 49% from their 52-week high. This was because of weak financial performance and concerns over the demand for its services worsening. Operationally speaking, I found the company to be a very interesting firm. But because of those same issues, primarily on the fundamental side, I could not rate it any higher than a 'hold'....
The Plunge Continues For Clean Energy Fuels