BP Buys Clean Energy's Renewable Natural Gas Facilities for $155 Million
- Author: Zachary Reyes Mar 03, 2017,
Mar 03, 2017, 3:11
Following the transaction, the senior vice president now owns 68,000 shares in the company, valued at $212,160. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
While some analysts have a High Price target for the stock of $10 and a Low Price Target of $7. This scale runs from 1 to 5 where 1 represents Strong Buy and 5 represents Sell. 1,188,846 shares of the company traded hands. (CLNE) stock price distance from twenty day simple moving average surged at 13.20% while its distance from fifty day simple moving average raised 2.74% along with -18.25% below distance from two hundred simple moving averages.
The deal enables both companies to accelerate the growth in renewable natural gas supply and meet the growing demand of the natural gas vehicle fuel market. (NASDAQ:CLNE) traded at an unexpectedly high level on 03/01/2017 when the stock experienced a 16.73 loss to a closing price of $2.86. The firm earned $97.02 million during the quarter, compared to analysts' expectations of $100.83 million.
Analysts estimated $-0.1/share for the previous Quarter, where Clean Energy Fuels Corp. (NASDAQ:CLNE) could bring EPS of $-0.1/share. We should also note their 52-Week High and Low: the shares now trade -44.38% away from their high and 12.18% from the low.
Several institutional investors have recently modified their holdings of CLNE.
Zacks Investment Research also rated the stock with a value of 1.67. Here, 1 indicates a Strong Buy and 5 indicates a Strong Sell.
While taking a glance at financials, we can look at a number of key indicators about Clean Energy Fuels Corp. Acrospire Investment Management LLC now owns 23,578 shares of the company's stock valued at $105,000 after buying an additional 11,978 shares during the last quarter.
Clean Energy will retain the downstream business for green gas. BlackRock Advisors LLC boosted its stake in Clean Energy Fuels Corp.by 1.8% in the second quarter. Quantitative Investment Management LLC purchased a new position in shares of Clean Energy Fuels Corp during the third quarter worth $159,000. At the time of writing, the stock had slid down -6.64% since the open.
Clean Energy Fuels Corp. on 11/03/2016 reported its EPS as $-0.1 with the analysts projecting the EPS of the stock as $-0.1. "BP's investment in and focus on renewable natural gas supply will ensure that Clean Energy can meet the growing demand of our customers for low-carbon, renewable fuel". 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, fix and maintenance (O&M) services for vehicle fleet customer stations.