Clean Energy Fuels Corp. (CLNE)

In May 2025, Clean Energy reported Q1 financial results with revenue of $103.8 million and 50.6 million RNG gallons sold, with a net loss of $(135.0) million but a non-GAAP income per share of $0.01. In August 2025, the stock traded up by 9.8% following positive Q2 results, with revenues reaching $102.6 million, and the company raised its full-year adjusted EBITDA guidance. In September 2025, Clean Energy announced plans to build a second hydrogen fueling station and broke ground on three new RNG dairy projects. By October 2025, the stock price had crossed above its 200-day moving average, with analysts giving it a "Moderate Buy" to "Strong Buy" recommendation.

Demand for Clean Energy Fuels Corp.'s products can be subject to seasonality. Cold weather conditions in the first quarter of 2025 led to a reduced supply of RNG, impacting sales volume. Factors like weather affecting feedstock availability or operational efficiency could introduce seasonality into their supply and demand dynamics.

Clean Energy Fuels Corp. specializes in natural gas fuel transportation services, including RNG projects. It is the largest provider of clean fuel for transportation in North America. Its major products include RNG, CNG, and LNG, serving various customer bases. The company also provides technology, equipment, engineering, construction, and financing services, and generates revenue through environmental credits.

Clean Energy Fuels Corp. operates extensively across North America and is headquartered in Newport Beach, California. It maintains a network of over 600 fueling stations throughout the United States and Canada, including RNG production facilities at dairy farms.

Clean Energy Fuels Corp. maintains a brand reputation centered on decarbonizing transportation through RNG. Securing contracts for hydrogen fueling stations and RNG dairy projects has positively impacted its reputation. Partnerships with municipalities for low-carbon RNG solutions also bolster its image. However, the company faces competitive pressures from electric vehicles and fluctuating natural gas prices.

Institutional investors hold approximately 48% of Clean Energy Fuels Corp., with the top nine shareholders owning 51% of the company. TotalEnergies SE is the largest shareholder with a 19% stake. Other major holders include BlackRock, Inc. and Grantham Mayo Van Otterloo & Co. LLC. Public companies own about 19% of Clean Energy Fuels. Insider selling has been observed, and insiders collectively own 4.30% of the stock.