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

ClearSign Technologies Corporation (NASDAQ:CLIR) passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred 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 changing hands.

Analyst Upgrades and Downgrades

CLIR has been the topic of several recent research reports. HC Wainwright upped their target price on shares of ClearSign Technologies from $2.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, April 14th. Weiss Ratings restated a “sell (d-)” rating on shares of ClearSign Technologies in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, ClearSign Technologies presently has a consensus rating of “Hold” and a consensus target price of $20.00.

ClearSign Technologies Stock Performance

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

ClearSign Technologies (NASDAQ:CLIR) last issued its quarterly earnings results on Friday, May 15th. 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 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%. On average, analysts forecast that ClearSign Technologies Corporation will post -1.11 EPS for the current year.

Hedge Funds Weigh In On ClearSign Technologies

Hedge funds have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. grew its holdings in 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 valued at $40,000 after purchasing an additional 64,523 shares during the last quarter. Renaissance Technologies LLC grew its stake in ClearSign Technologies by 89.6% in the 4th quarter. Renaissance Technologies LLC now owns 77,800 shares of the technology company’s stock worth $43,000 after acquiring an additional 36,769 shares in the last quarter. Rockefeller Capital Management L.P. raised its stake in shares of 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 valued at $45,000 after acquiring an additional 72,200 shares in the last quarter. Finally, Americana Partners LLC raised its stake in shares of ClearSign Technologies by 83.3% during 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. 24.03% of the stock is currently owned by institutional investors.

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.