ClearSign Technologies (NASDAQ:CLIR) Issues Earnings Results, Misses Estimates By $0.10 EPS

ClearSign Technologies (NASDAQ:CLIR) issued its earnings results on Friday. The technology company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.10), FiscalAI reports. The firm had revenue of $0.19 million during the quarter, compared to analysts’ expectations of $1.27 million. ClearSign Technologies had a negative return on equity of 53.54% and a negative net margin of 105.01%.

ClearSign Technologies Price Performance

Shares of NASDAQ:CLIR traded down $0.49 on Friday, reaching $4.71. The company’s stock had a trading volume of 21,737 shares, compared to its average volume of 27,667. The stock’s 50-day moving average is $4.88 and its two-hundred day moving average is $6.24. ClearSign Technologies has a 52-week low of $3.24 and a 52-week high of $11.20. The stock has a market capitalization of $25.48 million, a P/E ratio of -3.92 and a beta of 1.38.

Analysts Set New Price Targets

A number of research firms have recently commented on CLIR. Weiss Ratings restated a “sell (d-)” rating on shares of ClearSign Technologies in a research report on Friday, March 27th. HC Wainwright raised their target price on shares of ClearSign Technologies from $2.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, April 14th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $20.00.

Institutional Inflows and Outflows

An institutional investor recently raised its position in ClearSign Technologies stock. Renaissance Technologies LLC boosted its stake in shares of ClearSign Technologies Corporation (NASDAQ:CLIR) by 89.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 77,800 shares of the technology company’s stock after buying an additional 36,769 shares during the quarter. Renaissance Technologies LLC owned 0.15% of ClearSign Technologies worth $43,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 24.03% of the company’s stock.

ClearSign Technologies Company Profile

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.