ClearSign Technologies (NASDAQ:CLIR) Stock Price Passes Below 200-Day Moving Average – Here’s Why

ClearSign Technologies Corporation (NASDAQ:CLIRGet Free Report)’s share price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $5.83 and traded as low as $4.38. ClearSign Technologies shares last traded at $4.38, with a volume of 11,034 shares trading hands.

Analyst Upgrades and Downgrades

CLIR has been the subject of several research analyst reports. HC Wainwright lifted their price target on shares of ClearSign Technologies from $2.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, April 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ClearSign Technologies in a research note on Friday, March 27th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $20.00.

Check Out Our Latest Research Report on CLIR

ClearSign Technologies Stock Down 1.8%

The stock’s 50 day moving average price is $4.92 and its 200-day moving average price is $5.83. The stock has a market capitalization of $23.70 million, a P/E ratio of -4.42 and a beta of 1.34.

ClearSign Technologies (NASDAQ:CLIRGet Free Report) last released its quarterly earnings data on Friday, May 15th. The technology company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.10). The business had revenue of $0.19 million for the quarter, compared to the consensus estimate of $1.27 million. ClearSign Technologies had a negative net margin of 111.66% and a negative return on equity of 61.24%. Analysts anticipate that ClearSign Technologies Corporation will post -1.11 earnings per share for the current year.

Institutional Investors Weigh In On ClearSign Technologies

Institutional investors have recently bought and sold shares of the company. Americana Partners LLC boosted its stake in 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 acquiring an additional 25,000 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted 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 valued at $40,000 after acquiring an additional 64,523 shares in the last quarter. Renaissance Technologies LLC boosted its stake in ClearSign Technologies by 89.6% in the fourth 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 in the last quarter. Finally, Rockefeller Capital Management L.P. boosted its stake in 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 acquiring an additional 72,200 shares in the last quarter. 24.03% of the stock is currently owned by institutional investors and hedge funds.

About ClearSign Technologies

(Get Free Report)

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.

Further Reading

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