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SOURCE BrokerBank Securities, Inc.
NEW YORK, Aug. 7, 2014 /PRNewswire/ -- is a compressed natural gas (CNG) fuel tank and fuel system manufacturer. Its tanks and components are used in vehicles that are powered by CNG. The primary customers are OEMs and fleets of medium and light-duty trucks, which are classified as Type IV vehicles. Vehicles that use CNG as fuel realize a significant cost savings compared to standard gas vehicles. Company sales are predominately in the U.S., and also in Europe, Canada and Asia. The company also designs parts for electric vehicles and has a wind power subsidiary, Schneider Power.
Recently the company's stock price took a hit after the announcement of the Agility/Hexagon partnership, and after 2014 Q1 earnings came in below consensus. The stock price started to dip after the deal was announced on May 6, and then took a sharper plunge when earnings were released on May 14. The company had EPS of -$.16 in contrast to consensus estimates of -$.05. In addition management revised full year guidance downward. Since then, the price has moved up from ~$3 to ~$5 on announcements of securing new customers. The company secured Ryder, Peterbilt, Swift Transportation, Kwik-Trip, McNeilus, Dillon Transport, and others as customers.
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BrokerBank Securities, Inc. is a member of the Financial Industry Regulatory Authority, CRD number #130116.
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