Clean Diesel Technologies, Inc. (NASDAQ:CDTI), a leader in advanced emission control technology, released the following statement in response to numerous questions from industry analysts and investors regarding recent emissions compliance issues within the automotive industry.
“Recent news surrounding non-compliance with automotive emission laws emphasizes the priority government regulators and the public place on improving air quality and safeguarding human health around the world,” stated Chris Harris, CDTi’s President and Chief Executive Officer. “The strong reaction to the negative aspects of non-compliance makes it crystal clear that governments intend to strictly enforce stringent emission regulations as they urgently and aggressively tackle the enormous environmental, social and economic costs stemming from harmful vehicular pollutants.”
“Globally, there will soon be 100 million new passenger cars produced annually as the world’s population grows and rising living standards spur demand for cars and commercial vehicles. Simultaneously, governments are moving quickly to safeguard human health and the environment. While more stringent emission regulations take effect worldwide, and car designers leverage turbo, direct gas injection and hybrid engine technologies for fuel efficiency, conventional catalytic converter technology is stretched. Clearly now is the time for the rapid and broad-scale adoption of breakthrough innovations that enable cost-effective compliance.”
Harris concluded, “With its long track history supplying emission solutions for passenger cars and heavy duty vehicles, CDTi’s next-generation technologies promise cost-effective compliance with increasingly strict emission standards around the world. We believe our proprietary technologies that include MPC®, Spinel™, BMARS™ and SPGM™, offer vehicle manufacturers superior emission reduction performance at substantially lower cost. We intend to accelerate commercialization of our breakthrough compliance-enabling technologies.” (Original Source)
Shares of Clean Diesel closed yesterday at $1.88. CDTI has a 1-year high of $3.97 and a 1-year low of $1.41. The stock’s 50-day moving average is $1.61 and its 200-day moving average is $1.84.
On the ratings front, CTDI has been the subject of a number of recent research reports. In a report issued on August 16, Roth Capital analyst Matt Koranda reiterated a Buy rating on CDTI, with a price target of $2.40, which implies an upside of 27.7% from current levels. Separately, on June 16, Cowen’s Jeff Osborne reiterated a Buy rating on the stock and has a price target of $3.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Matt Koranda and Jeff Osborne have a total average return of 2.7% and -10.8% respectively. Koranda has a success rate of 39.0% and is ranked #1505 out of 3766 analysts, while Osborne has a success rate of 40.4% and is ranked #3616.
Clean Diesel Technologies Inc is a material technology company. It is engaged in manufacturing & distributing of light duty vehicle catalysts & heavy duty diesel emissions control systems & products to automakers, distributors, integrators & retrofitters.