Shares of ClearSign Technologies Corporation (NASDAQ:CLIR – Get Free Report) crossed below its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $4.35 and traded as low as $3.75. ClearSign Technologies shares last traded at $3.75, with a volume of 6,101 shares traded.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings cut shares of ClearSign Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, September 16th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $20.00.
Get Our Latest Stock Report on ClearSign Technologies
ClearSign Technologies Stock Performance
ClearSign Technologies (NASDAQ:CLIR – Get Free Report) last released its earnings results on Friday, August 14th. The technology company reported ($0.22) EPS for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.03. The company had revenue of $0.56 million for the quarter, compared to analysts’ expectations of $0.61 million. ClearSign Technologies had a negative return on equity of 58.08% and a negative net margin of 96.07%. On average, sell-side analysts predict that ClearSign Technologies Corporation will post -1.02 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other news, major shareholder John M. Pasquesi acquired 500,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 22nd. The shares were acquired at an average price of $3.54 per share, for a total transaction of $1,770,000.00. Following the completion of the purchase, the insider owned 1,343,477 shares in the company, valued at approximately $4,755,908.58. This trade represents a 59.28% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 5.22% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. purchased a new stake in ClearSign Technologies in the 2nd quarter worth about $26,000. Citadel Advisors LLC purchased a new stake in ClearSign Technologies during the second quarter valued at about $75,000. HighTower Advisors LLC purchased a new stake in ClearSign Technologies during the second quarter valued at about $83,000. Finally, Rockefeller Capital Management L.P. boosted its position 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 worth $45,000 after purchasing an additional 72,200 shares during the period. Hedge funds and other institutional investors own 24.03% of the company’s stock.
ClearSign Technologies Company Profile
ClearSign Technologies Corporation develops technologies designed to improve the emissions performance, efficiency and operational characteristics of industrial and commercial combustion systems. The company focuses primarily on reducing pollutants, including nitrogen oxides (NOx), generated by fuel-burning equipment used in applications such as process heating, power generation and other industrial operations.
Its product portfolio includes ClearSign Core, a combustion technology intended to be integrated into burners and furnaces to support lower-emission operation, and ClearSign Eye, a combustion monitoring and control technology designed to help optimize burner performance and safety.
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