ClearSign Technologies (NASDAQ:CLIR) Releases Quarterly Earnings Results

ClearSign Technologies (NASDAQ:CLIR) released its earnings results on Tuesday. The technology company reported ($0.09) earnings per share for the quarter, FiscalAI reports. The company had revenue of $3.67 million for the quarter. ClearSign Technologies had a negative net margin of 294.89% and a negative return on equity of 56.07%.

ClearSign Technologies Trading Up 13.2%

CLIR traded up $0.51 during trading on Tuesday, hitting $4.36. 10,743 shares of the company traded hands, compared to its average volume of 23,952. ClearSign Technologies has a 1 year low of $3.24 and a 1 year high of $11.20. The stock’s 50-day simple moving average is $5.39 and its two-hundred day simple moving average is $6.85. The company has a market cap of $23.37 million, a PE ratio of -3.63 and a beta of 1.26.

Hedge Funds Weigh In On ClearSign Technologies

Several institutional investors have recently bought and sold shares of CLIR. Rockefeller Capital Management L.P. lifted its holdings in shares of ClearSign Technologies by 801.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 81,209 shares of the technology company’s stock valued at $45,000 after acquiring an additional 72,200 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in ClearSign Technologies by 89.6% during the 4th quarter. Renaissance Technologies LLC now owns 77,800 shares of the technology company’s stock valued at $43,000 after acquiring an additional 36,769 shares during the period. Americana Partners LLC grew its position in ClearSign Technologies by 83.3% in the 4th quarter. Americana Partners LLC now owns 55,000 shares of the technology company’s stock valued at $31,000 after acquiring an additional 25,000 shares during the last quarter. Beacon Pointe Advisors LLC bought a new position in ClearSign Technologies in the 2nd quarter valued at $145,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake in ClearSign Technologies by 895.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 71,730 shares of the technology company’s stock worth $40,000 after purchasing an additional 64,523 shares during the period. Institutional investors own 24.03% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ClearSign Technologies in a report on Friday. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, ClearSign Technologies currently has a consensus rating of “Hold” and a consensus target price of $20.00.

About ClearSign Technologies

ClearSign Technologies Corporation is a clean energy technology company specializing in advanced combustion solutions that significantly reduce emissions of nitrogen oxides (NOx), carbon monoxide (CO), and greenhouse gases from industrial and power generation sources. Established in 2010 and based in Santa Rosa, California, ClearSign has developed proprietary burner and sensing platforms designed to enhance fuel efficiency and environmental performance for gas turbines, furnaces, boilers, and incineration units.

The company’s core offerings center around two technology platforms: the XCL™ ultra-low NOx combustion system and the SGM™ (Syngas & Gas Measurement) sensor suite.