HC Wainwright Reaffirms “Buy” Rating for ClearSign Technologies (NASDAQ:CLIR)

HC Wainwright restated their buy rating on shares of ClearSign Technologies (NASDAQ:CLIR) in a research report sent to investors on Wednesday, Benzinga reports. They currently have a $6.00 price target on the technology company’s stock. HC Wainwright also issued estimates for ClearSign Technologies’ Q1 2024 earnings at ($0.03) EPS, Q2 2024 earnings at ($0.04) EPS, Q3 2024 earnings at ($0.03) EPS, Q4 2024 earnings at ($0.02) EPS, FY2024 earnings at ($0.11) EPS, FY2025 earnings at $0.03 EPS, FY2026 earnings at $0.18 EPS and FY2027 earnings at $0.37 EPS.

Separately, StockNews.com started coverage on shares of ClearSign Technologies in a research report on Wednesday. They issued a sell rating for the company.

ClearSign Technologies Trading Down 7.1 %

Shares of CLIR opened at $0.75 on Wednesday. The stock has a market cap of $29.28 million, a P/E ratio of -5.77 and a beta of 0.99. The company has a 50-day moving average of $1.01 and a two-hundred day moving average of $1.04. ClearSign Technologies has a 12-month low of $0.74 and a 12-month high of $1.75.

ClearSign Technologies (NASDAQ:CLIR) last announced its earnings results on Monday, April 1st. The technology company reported ($0.02) earnings per share (EPS) for the quarter. The business had revenue of $1.27 million for the quarter. ClearSign Technologies had a negative return on equity of 77.28% and a negative net margin of 216.15%.

Hedge Funds Weigh In On ClearSign Technologies

A hedge fund recently raised its stake in ClearSign Technologies stock. Disciplined Investments LLC increased its position in ClearSign Technologies Co. (NASDAQ:CLIR) by 223.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,016 shares of the technology company’s stock after buying an additional 33,152 shares during the period. Disciplined Investments LLC owned about 0.12% of ClearSign Technologies worth $46,000 as of its most recent SEC filing. 24.03% of the stock is currently owned by hedge funds and other institutional investors.

About ClearSign Technologies

ClearSign Technologies Corporation designs and develops technologies to enhance operational performance, energy efficiency, emission reduction, safety, and overall cost-effectiveness of industrial and commercial systems in the United States and the People's Republic of China. Its ClearSign Core Burner Technology consists of an industrial burner body and a downstream porous ceramic structure or metal flame stabilizing device; ClearSign Core Plug & Play Burner technology provides direct burner replacement for traditional refinery process heaters; and ClearSign Eye Flame Sensor, an electrical flame sensor for industrial applications.