ClearSign Technologies (NASDAQ:CLIR) Stock Price Passes Below Two Hundred Day Moving Average – Here’s Why

ClearSign Technologies Co. (NASDAQ:CLIR) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $0.99 and traded as low as $0.76. ClearSign Technologies shares last traded at $0.76, with a volume of 31,688 shares changing hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on ClearSign Technologies in a report on Wednesday. They issued a “sell” rating on the stock.

ClearSign Technologies Trading Up 3.9 %

The company has a fifty day simple moving average of $0.98 and a 200-day simple moving average of $0.98. The stock has a market cap of $39.68 million, a price-to-earnings ratio of -7.18 and a beta of 1.04.

Hedge Funds Weigh In On ClearSign Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Citadel Advisors LLC acquired a new stake in ClearSign Technologies during the 4th quarter worth about $49,000. Raymond James Financial Inc. acquired a new position in shares of ClearSign Technologies during the 4th quarter worth about $75,000. Renaissance Technologies LLC bought a new position in ClearSign Technologies during the fourth quarter worth $84,000. Northern Trust Corp increased its position in ClearSign Technologies by 23.8% during the fourth quarter. Northern Trust Corp now owns 75,466 shares of the technology company’s stock worth $109,000 after acquiring an additional 14,521 shares during the period. Finally, Geode Capital Management LLC raised its stake in ClearSign Technologies by 35.5% during the 3rd quarter. Geode Capital Management LLC now owns 521,229 shares of the technology company’s stock valued at $443,000 after purchasing an additional 136,639 shares during the last quarter. Institutional investors and hedge funds own 24.03% of the company’s stock.

ClearSign Technologies Company Profile

ClearSign Technologies Corporation designs and develops products and technologies to enhance emission and operational performance, energy efficiency, emission reduction, safety, and overall cost-effectiveness of industrial and commercial systems in the United States, the People's Republic of China, and Hong Kong.