ClearSign Technologies (NASDAQ:CLIR) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of ClearSign Technologies (NASDAQ:CLIR) in a research note issued to investors on Tuesday. The firm set a “sell” rating on the technology company’s stock.

Separately, HC Wainwright decreased their price objective on shares of ClearSign Technologies from $6.00 to $2.00 and set a “buy” rating on the stock in a report on Thursday, April 17th.

ClearSign Technologies Stock Up 9.2%

Shares of NASDAQ CLIR opened at $0.62 on Tuesday. ClearSign Technologies has a 52-week low of $0.46 and a 52-week high of $1.72. The firm has a market cap of $32.50 million, a price-to-earnings ratio of -5.64 and a beta of 1.16. The company’s 50-day simple moving average is $0.64 and its 200-day simple moving average is $0.92.

ClearSign Technologies (NASDAQ:CLIR) last posted its quarterly earnings results on Wednesday, April 2nd. The technology company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.01. The firm had revenue of $0.60 million for the quarter, compared to the consensus estimate of $1.55 million. ClearSign Technologies had a negative net margin of 118.93% and a negative return on equity of 50.44%. Equities research analysts anticipate that ClearSign Technologies will post -0.13 EPS for the current fiscal year.

Hedge Funds Weigh In On ClearSign Technologies

A number of large investors have recently modified their holdings of the business. Simon Quick Advisors LLC acquired a new stake in ClearSign Technologies in the first quarter valued at $452,000. Geode Capital Management LLC increased its holdings in shares of ClearSign Technologies by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 536,995 shares of the technology company’s stock valued at $773,000 after purchasing an additional 15,766 shares in the last quarter. Northern Trust Corp lifted its stake in shares of ClearSign Technologies by 23.8% in the fourth quarter. Northern Trust Corp now owns 75,466 shares of the technology company’s stock valued at $109,000 after purchasing an additional 14,521 shares during the period. Renaissance Technologies LLC purchased a new stake in ClearSign Technologies during the fourth quarter worth about $84,000. Finally, Raymond James Financial Inc. acquired a new position in ClearSign Technologies during the fourth quarter worth about $75,000. 24.03% of the stock is owned by hedge funds and other institutional investors.

ClearSign Technologies Company Profile

ClearSign Technologies Corporation designs and develops products and technologies to enhance emission and operational performance, energy efficiency, emission reduction, safety, and overall cost-effectiveness of industrial and commercial systems in the United States, the People's Republic of China, and Hong Kong.