ClearSign Technologies (NASDAQ:CLIR) Share Price Passes Below 200 Day Moving Average – Here’s What Happened

ClearSign Technologies Corporation (NASDAQ:CLIR) shares crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $4.57 and traded as low as $4.22. ClearSign Technologies shares last traded at $4.26, with a volume of 4,953 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of ClearSign Technologies in a research report on Wednesday, June 24th. One investment 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 stock presently has an average rating of “Hold” and a consensus target price of $20.00.

ClearSign Technologies Trading Up 1.8%

The firm has a market capitalization of $28.76 million, a P/E ratio of -4.64 and a beta of 1.38. The stock has a 50 day simple moving average of $3.98 and a 200-day simple moving average of $4.55.

ClearSign Technologies (NASDAQ:CLIR) last issued its quarterly earnings data on Monday, August 17th. The technology company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.25) by $0.03. The firm had revenue of $0.56 million for the quarter, compared to analysts’ expectations of $0.61 million. ClearSign Technologies had a negative net margin of 96.07% and a negative return on equity of 58.08%. As a group, sell-side analysts expect that ClearSign Technologies Corporation will post -1.02 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other ClearSign Technologies news, major shareholder John M. Pasquesi purchased 500,000 shares of the firm’s stock in a transaction on Wednesday, July 22nd. The shares were acquired at an average cost of $3.54 per share, for a total transaction of $1,770,000.00. Following the completion of the transaction, the insider owned 1,343,477 shares of the company’s stock, valued at approximately $4,755,908.58. The trade was a 59.28% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 5.22% of the company’s stock.

Hedge Funds Weigh In On ClearSign Technologies

A number of institutional investors have recently bought and sold shares of the stock. Rockefeller Capital Management L.P. grew its holdings in ClearSign Technologies by 801.4% during the fourth quarter. Rockefeller Capital Management L.P. now owns 81,209 shares of the technology company’s stock valued at $45,000 after purchasing an additional 72,200 shares during the period. Renaissance Technologies LLC raised its stake in shares of ClearSign Technologies by 89.6% in the fourth quarter. Renaissance Technologies LLC now owns 77,800 shares of the technology company’s stock worth $43,000 after buying an additional 36,769 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in shares of ClearSign Technologies by 895.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 71,730 shares of the technology company’s stock valued at $40,000 after buying an additional 64,523 shares in the last quarter. Americana Partners LLC grew its stake in shares of ClearSign Technologies by 83.3% during 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 period. Finally, HighTower Advisors LLC purchased a new stake in ClearSign Technologies in the 2nd quarter worth approximately $83,000. 24.03% of the stock is owned by institutional investors.

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.