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

ClearSign Technologies Corporation (NASDAQ:CLIR)’s stock price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $5.22 and traded as low as $3.70. ClearSign Technologies shares last traded at $3.75, with a volume of 5,992 shares.

Analyst Ratings Changes

Several equities research analysts recently commented on CLIR shares. HC Wainwright lifted their price target 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. Weiss Ratings reiterated 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 given a Sell rating to the company. According to data from MarketBeat.com, ClearSign Technologies presently has an average rating of “Hold” and a consensus price target of $20.00.

ClearSign Technologies Trading Up 1.4%

The stock has a market cap of $23.66 million, a price-to-earnings ratio of -3.79 and a beta of 1.37. The stock’s 50 day moving average is $4.30 and its two-hundred day moving average is $5.22.

ClearSign Technologies (NASDAQ:CLIR) last posted its quarterly earnings data on Friday, May 15th. The technology company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.10). ClearSign Technologies had a negative net margin of 111.66% and a negative return on equity of 61.24%. The business had revenue of $0.19 million during the quarter, compared to analyst estimates of $1.27 million. On average, sell-side analysts predict that ClearSign Technologies Corporation will post -0.99 EPS for the current year.

Hedge Funds Weigh In On ClearSign Technologies

Several institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC lifted its position in ClearSign Technologies by 89.6% during the 4th quarter. Renaissance Technologies LLC now owns 77,800 shares of the technology company’s stock worth $43,000 after acquiring an additional 36,769 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in shares of ClearSign Technologies by 895.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 71,730 shares of the technology company’s stock valued at $40,000 after purchasing an additional 64,523 shares during the last quarter. Rockefeller Capital Management L.P. increased its holdings in shares of ClearSign Technologies by 801.4% in 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. Finally, Americana Partners LLC increased its holdings in shares of ClearSign Technologies by 83.3% in the fourth quarter. Americana Partners LLC now owns 55,000 shares of the technology company’s stock valued at $31,000 after purchasing an additional 25,000 shares during the period. Institutional investors and hedge funds 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.