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Today's Research Reports on Stocks to Watch: Westport Fuel Systems and Clean Energy

ACCESSWIRE

NEW YORK, NY / ACCESSWIRE / April 19, 2017 / Westport Fuel Systems' shares declined 3.15 percent to close at $1.23 a share on Tuesday. The stock traded between $1.20 and $1.34 on volume of 1.06 million shares traded. On Monday, shares of Westport spiked nearly 20 percent after the company announced an agreement to sell its Auxiliary Power Unit (APU) business for US$70.0 million. Westport has made the decision to shift its focus to alternative fuel solutions for the transportation and automotive industries. Proceeds from the sale will more than double the company's cash and working capital. As of December 31, 2016, the company's cash, cash equivalents, and short-term investments totaled $60.9 million. Shares of Westport Fuel Systems have gained approximately 8.85 percent YTD.

"We are pleased to have completed this transaction as part of our portfolio review that began with the closing of the merger with Fuel Systems in June of 2016," stated Nancy Gougarty, CEO of Westport Fuel Systems. "After a careful assessment of the APU product line and its fit with the other Westport Fuel Systems businesses, we decided it made the most sense for our shareholders to pursue this sale."

Westport Fuel Systems reported unaudited consolidated revenues were $80.4 million for the fourth quarter of 2016, compared to $25.1 million in the same quarter a year ago. The large spike in revenues was largely attributed to the acquisition of Fuel Systems on June 1st, 2016. Unaudited net loss was $43.2 million, or a loss of $0.43 per share, for the fourth quarter of 2016, compared to a loss of $24.5 million, or a loss of $0.38 per share, a year ago.

Access RDI's Westport Fuel Systems Research Report at:
https://ub.rdinvesting.com/news/?ticker=WPRT

Clean Energy Fuels' shares gained 0.40 percent to close at $2.48 a share on Tuesday. The stock traded between $2.40 and $2.49 on volume of 846,644 shares traded. Clean Energy Fuels is top provider of natural gas fuel for transportation in North America. The company is scheduled to release results for the first quarter of 2017 after market close on Wednesday, May 10th. Shares of Clean Energy Fuels have fallen approximately 13.29 percent year-to-date.

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Clean Energy Fuels delivered 329.0 million gallons of fuel in the year ending December 31st, 2016, an increase of 6.6 percent when compared to 308.5 million gallons delivered a year ago. Revenues totaled $402.7 million in 2016, an increase of 4.8 percent when compared to revenues of $384.3 million in 2015.

Access RDI's Clean Energy Fuels Research Report at:
https://ub.rdinvesting.com/news/?ticker=CLNE

Our Actionable Research on Westport Fuel Systems Inc. (NASDAQ: WPRT) and Clean Energy Fuels Corp. (NASDAQ: CLNE) can be downloaded free of charge at Research Driven Investing.

RDI Initiates Coverage on:

Westport Fuel Systems Inc.
https://ub.rdinvesting.com/news/?ticker=WPRT

Clean Energy Fuels Corp.
https://ub.rdinvesting.com/news/?ticker=CLNE

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Disclaimer: This article is written by an independent contributor of RDInvesting.com and reviewed by Nadia Noorani, CFA® charter holder. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

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SOURCE: RDInvesting.com