The Clean Energy Fuels Corp (NASDAQ: CLNE) stock was on the move on Tuesday and emerged as one of the major gainers.
The stock jumped by as high as 10% yesterday and that might have been triggered in anticipation of the company’s fourth-quarter earnings results, which were declared later on in the day. Clean Energy Fuels posted a loss of as much as $2.6 million in the fourth quarter and that is a bit of a disappointment considering the fact that in the prior-year period, the company had posted a profit.
The company, which is involved in providing natural gas for vehicles as an alternative for other fuels, managed to generate revenues of as big as $75 million for the quarter. On the other hand, the losses for the full year 2020 came in at $9.9 million, which worked out to a per-share loss of 5 cents. Since the start of 2021, the Clean Energy Fuel stock has recorded gains of 50%.