ClearSign Technologies (NASDAQ:CLIR) Share Price Crosses Below 200-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 Wednesday . The stock has a 200-day moving average of $0.69 and traded as low as $0.68. ClearSign Technologies shares last traded at $0.68, with a volume of 178,563 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of ClearSign Technologies in a research note on Monday. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, ClearSign Technologies has a consensus rating of “Hold” and a consensus price target of $2.00.

ClearSign Technologies Price Performance

The stock’s 50-day moving average price is $0.85 and its 200-day moving average price is $0.69. The company has a market cap of $36.22 million, a P/E ratio of -5.67 and a beta of 1.20.

ClearSign Technologies (NASDAQ:CLIR) last issued its quarterly earnings results on Friday, November 14th. The technology company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.01. ClearSign Technologies had a negative return on equity of 56.07% and a negative net margin of 294.89%.The business had revenue of $1.03 million during the quarter, compared to analysts’ expectations of $1.43 million. As a group, analysts expect that ClearSign Technologies Corporation will post -0.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Beacon Pointe Advisors LLC acquired a new stake in shares of ClearSign Technologies during the second quarter valued at about $145,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of 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 buying an additional 64,523 shares during the period. Finally, Integrity Alliance LLC. bought a new position in ClearSign Technologies in the 1st quarter valued at approximately $30,000. 24.03% of the stock is currently owned by 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.