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Clean Energy Fuels (CLNE)

Clean Energy Fuels Corp. is the leading provider of the cleanest fuel for the transportation market in the United States and Canada. Through its sales of Redeem™ renewable natural gas (RNG), which is derived from capturing biogenic methane produced from decomposing organic waste, Clean Energy allows thousands of vehicle fleets, from airport shuttles to city buses to waste and heavy-duty trucks, to reduce their amount of climate-harming greenhouse gas by at least 70% and even up to 300% depending on the source of the RNG. Clean Energy can deliver Redeem through compressed natural gas (CNG) and liquified natural gas (LNG) to its network of approximately 540 fueling stations across the U.S. and Canada. Clean Energy builds and operates CNG and LNG fueling stations for the transportation market, owns natural gas liquefication facilities in California and Texas, and transports bulk CNG and LNG to non-transportation customers around the U.S.

Company profile

Ticker
CLNE
Exchange
CEO
Andrew Littlefair
Employees
Incorporated
Location
Fiscal year end
Former names
Clean Energy Fuels, Corp.
SEC CIK
Subsidiaries
Clean Energy • Clean Energy Finance, LLC • Natural Fuels Company, LLC • Blue Energy General LLC • Blue Energy Limited LLC • CE Natural Gas Fueling Services, LLC • CLNE PlasmaFlow, LLC • CLNE PlasmaFlow Holdings, LLC • NG Advantage LLC • O’Bryan Grain Renewable Energy, LLC ...
IRS number
330968580

CLNE stock data

Analyst ratings and price targets

Last 3 months
Current price
Average target
$9.25
Low target
$6.00
High target
$12.50
Credit Suisse
Maintains
Outperform
$12.50
17 May 22
Raymond James
Upgraded
Outperform
$6.00
10 May 22

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

4 May 22
26 Jun 22
31 Dec 22
Quarter (USD) Mar 22 Dec 21 Sep 21 Jun 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 107.97M 107.97M 107.97M 107.97M 107.97M 107.97M
Cash burn (monthly) (no burn) 1.31M 8.18M 9.55M (no burn) (no burn)
Cash used (since last report) n/a 3.76M 23.47M 27.42M n/a n/a
Cash remaining n/a 104.21M 84.5M 80.55M n/a n/a
Runway (months of cash) n/a 79.5 10.3 8.4 n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
12 May 22 Andrew J Littlefair Common Stock Buy Acquire P No No 4.0946 25,000 102.37K 1,551,374
9 May 22 Pratt Mitchell W Common Stock Option exercise Acquire M Yes No 1.37 35,000 47.95K 862,303
9 May 22 Pratt Mitchell W Common Stock Option exercise Acquire M Yes No 2.19 29,106 63.74K 827,303
9 May 22 Pratt Mitchell W Stock Option Common Stock Option exercise Dispose M Yes No 1.37 35,000 47.95K 0
9 May 22 Pratt Mitchell W Stock Option Common Stock Option exercise Dispose M Yes No 2.19 29,106 63.74K 0
21 Apr 22 Stephen Scully Stock Option Common Stock Grant Acquire A No No 6.6 86,956 573.91K 86,956
21 Apr 22 Miller James C Iii Stock Option Common Stock Grant Acquire A Yes No 6.6 86,956 573.91K 86,956
21 Apr 22 Taormina Vincent C Stock Option Common Stock Grant Acquire A No No 6.6 86,956 573.91K 86,956
7 Dec 21 Stephen Scully Stock Option Common Stock Sale back to company Dispose D No No 6.77 100,000 677K 0
7 Dec 21 Miller James C Iii Stock Option Common Stock Sale back to company Dispose D Yes No 6.77 100,000 677K 0
66.0% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 212 220 -3.6%
Opened positions 41 48 -14.6%
Closed positions 49 43 +14.0%
Increased positions 57 61 -6.6%
Reduced positions 58 65 -10.8%
13F shares Current Prev Q Change
Total value 1.34B 5.96B -77.5%
Total shares 147.07M 146.08M +0.7%
Total puts 635.8K 1.31M -51.5%
Total calls 2.94M 2.59M +13.5%
Total put/call ratio 0.2 0.5 -57.3%
Largest owners Shares Value Change
TTE TotalEnergies SE 51.23M $572.24M 0.0%
Grantham, Mayo, Van Otterloo & Co. 16.46M $130.67M +33.2%
BLK Blackrock 13.44M $106.7M -5.0%
STT State Street 10.61M $84.27M +0.3%
Vanguard 9.51M $75.54M +1.9%
Dimensional Fund Advisors 7.27M $57.75M +1.6%
Global Alpha Capital Management 4.24M $33.64M +14.3%
Geode Capital Management 3M $23.84M +2.9%
Alliancebernstein 1.98M $15.69M +726.4%
NTRS Northern Trust 1.83M $14.5M -3.3%
Largest transactions Shares Bought/sold Change
Grantham, Mayo, Van Otterloo & Co. 16.46M +4.1M +33.2%
Millennium Management 479.42K -2.58M -84.3%
Alliancebernstein 1.98M +1.74M +726.4%
EJF Capital 0 -1.65M EXIT
D. E. Shaw & Co. 1.58M +1.57M +11364.2%
FMR 39.07K -1.21M -96.9%
Point72 Asset Management 908.11K +908.11K NEW
DnB Asset Management AS 0 -768.76K EXIT
BLK Blackrock 13.44M -711.13K -5.0%
Global Alpha Capital Management 4.24M +531.1K +14.3%

Financial report summary

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Management Discussion
  • The table below presents, for each period indicated, each line item of our statements of operations data as a percentage of our total revenue for the period. Additionally, the narrative that follows provides a comparative discussion of certain of these line items between the periods indicated. Historical results are not indicative of the results to be expected in the current period or any future period.
  • Revenue. Revenue increased by $6.4 million to $83.5 million in the three months ended March 31, 2022, from $77.1 million in the three months ended March 31, 2021. This increase was primarily due to an increase in volume-related revenue and a decrease in unrealized loss from the change in fair value of our commodity swap and customer contracts entered into in connection with our Zero Now truck financing program, partially offset by Amazon Warrant Charges (see Note 1) of $3.8 million and lower AFTC revenue and station construction sales.
  • Volume-related revenue, excluding the effects of the change in fair value of our commodity swap and customer contracts entered in connection with our Zero Now truck financing program and the Amazon Warrant Charges, increased by $14.6 million between periods, attributable to an increase in gallons delivered and an increase in the effective price per gallon. The effect to volume-related revenue as a result of the change in fair value of our commodity swap and customer contracts entered into in connection with our Zero Now truck financing program was $1.0 million, as we recognized an unrealized loss of $(2.0) million in 2021 compared to an unrealized loss of $(1.0) million in 2022 (see Note 6 for more information).

Content analysis

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