ClearSign Technologies (NASDAQ:CLIR) Issues Earnings Results

ClearSign Technologies (NASDAQ:CLIR) issued its earnings results on Friday. The technology company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.03, Zacks reports. ClearSign Technologies had a negative return on equity of 61.24% and a negative net margin of 111.66%.The company had revenue of $0.56 million during the quarter, compared to analysts’ expectations of $0.61 million.

ClearSign Technologies Price Performance

CLIR traded up $0.40 during trading hours on Friday, reaching $4.65. The company’s stock had a trading volume of 26,432 shares, compared to its average volume of 12,147. The stock has a market cap of $29.33 million, a PE ratio of -4.70 and a beta of 1.38. ClearSign Technologies has a fifty-two week low of $3.16 and a fifty-two week high of $11.20. The business’s 50-day moving average is $3.85 and its 200-day moving average is $4.70.

Insider Transactions at ClearSign Technologies

In other ClearSign Technologies news, major shareholder John M. Pasquesi bought 500,000 shares of ClearSign Technologies stock in a transaction on Wednesday, July 22nd. The shares were bought at an average price of $3.54 per share, for a total transaction of $1,770,000.00. Following the completion of the transaction, the insider directly owned 1,343,477 shares of the company’s stock, valued at $4,755,908.58. This trade represents a 59.28% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. 5.22% of the stock is currently owned by company insiders.

Institutional Trading of ClearSign Technologies

An institutional investor recently raised its position in ClearSign Technologies stock. Northwestern Mutual Wealth Management Co. raised its stake in ClearSign Technologies Corporation (NASDAQ:CLIR) by 895.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 71,730 shares of the technology company’s stock after buying an additional 64,523 shares during the quarter. Northwestern Mutual Wealth Management Co. owned about 0.14% of ClearSign Technologies worth $40,000 at the end of the most recent quarter. 24.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of ClearSign Technologies in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, ClearSign Technologies currently has an average rating of “Hold” and an average price target of $20.00.

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.