HC Wainwright Issues Pessimistic Estimate for CLIR Earnings

ClearSign Technologies Corporation (NASDAQ:CLIR) – Stock analysts at HC Wainwright dropped their FY2030 earnings per share estimates for ClearSign Technologies in a research report issued on Thursday, May 21st. HC Wainwright analyst A. Dayal now anticipates that the technology company will post earnings per share of $2.97 for the year, down from their previous forecast of $3.00. HC Wainwright has a “Buy” rating and a $20.00 price target on the stock. The consensus estimate for ClearSign Technologies’ current full-year earnings is ($1.06) per share.

ClearSign Technologies (NASDAQ:CLIR) last issued its earnings results on Wednesday, May 20th. The technology company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.10). The firm had revenue of $0.19 million during the quarter, compared to the consensus estimate of $1.27 million. ClearSign Technologies had a negative return on equity of 61.24% and a negative net margin of 111.66%.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ClearSign Technologies in a research report on Friday, March 27th. 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, the company currently has an average rating of “Hold” and an average target price of $20.00.

ClearSign Technologies Price Performance

Shares of CLIR stock opened at $4.85 on Monday. The stock has a market cap of $26.24 million, a P/E ratio of -4.90 and a beta of 1.38. ClearSign Technologies has a one year low of $3.24 and a one year high of $11.20. The stock has a fifty day moving average price of $4.82 and a 200 day moving average price of $6.07.

Hedge Funds Weigh In On ClearSign Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Rockefeller Capital Management L.P. lifted its position in shares of ClearSign Technologies by 801.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 81,209 shares of the technology company’s stock worth $45,000 after buying an additional 72,200 shares during the period. Renaissance Technologies LLC lifted its position in shares of ClearSign Technologies by 89.6% during the 4th quarter. Renaissance Technologies LLC now owns 77,800 shares of the technology company’s stock worth $43,000 after buying an additional 36,769 shares during the period. Americana Partners LLC lifted its position in shares of ClearSign Technologies by 83.3% during the 4th quarter. Americana Partners LLC now owns 55,000 shares of the technology company’s stock worth $31,000 after buying an additional 25,000 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of ClearSign Technologies by 895.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 71,730 shares of the technology company’s stock worth $40,000 after buying an additional 64,523 shares during the period. Institutional investors own 24.03% of the company’s stock.

About ClearSign Technologies

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.