ClearSign Technologies (NASDAQ:CLIR) Earns Sell Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of ClearSign Technologies (NASDAQ:CLIR) in a research report sent to investors on Friday morning. The brokerage issued a sell rating on the technology company’s stock.

ClearSign Technologies Trading Up 4.5 %

ClearSign Technologies stock opened at $0.58 on Friday. The company has a market capitalization of $30.14 million, a P/E ratio of -5.23 and a beta of 1.18. ClearSign Technologies has a 1-year low of $0.46 and a 1-year high of $1.72. The firm’s fifty day simple moving average is $0.80 and its 200-day simple moving average is $0.97.

ClearSign Technologies (NASDAQ:CLIR) last posted its earnings results on Wednesday, April 2nd. The technology company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.01. The company had revenue of $0.60 million for the quarter, compared to analyst estimates of $1.55 million. ClearSign Technologies had a negative return on equity of 50.44% and a negative net margin of 118.93%. On average, equities research analysts predict that ClearSign Technologies will post -0.13 earnings per share for the current year.

Hedge Funds Weigh In On ClearSign Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CLIR. Citadel Advisors LLC acquired a new stake in shares of ClearSign Technologies in the fourth quarter worth $49,000. Raymond James Financial Inc. bought a new position in ClearSign Technologies in the 4th quarter worth $75,000. Renaissance Technologies LLC acquired a new position in ClearSign Technologies during the 4th quarter worth $84,000. Northern Trust Corp boosted its holdings in ClearSign Technologies by 23.8% during the fourth quarter. Northern Trust Corp now owns 75,466 shares of the technology company’s stock valued at $109,000 after acquiring an additional 14,521 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of ClearSign Technologies by 35.5% in the third 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.