ClearSign Technologies (NASDAQ:CLIR) Stock Price Passes Below Two Hundred Day Moving Average – Here’s What Happened

Shares of ClearSign Technologies Corporation (NASDAQ:CLIR) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $5.45 and traded as low as $3.59. ClearSign Technologies shares last traded at $3.71, with a volume of 4,871 shares traded.

Analysts Set New Price Targets

Several research firms have recently weighed in on CLIR. HC Wainwright increased their price target on shares of ClearSign Technologies from $2.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, April 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ClearSign Technologies in a research report on Friday, March 27th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $20.00.

ClearSign Technologies Trading Down 0.3%

The firm’s fifty day moving average price is $4.68 and its 200 day moving average price is $5.45. The stock has a market capitalization of $20.07 million, a price-to-earnings ratio of -3.75 and a beta of 1.34.

ClearSign Technologies (NASDAQ:CLIR) last posted its quarterly earnings data on Friday, May 15th. The technology company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.10). ClearSign Technologies had a negative return on equity of 61.24% and a negative net margin of 111.66%.The company had revenue of $0.19 million for the quarter, compared to analysts’ expectations of $1.27 million. On average, analysts forecast that ClearSign Technologies Corporation will post -0.99 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of CLIR. Northwestern Mutual Wealth Management Co. grew 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 in the last quarter. Americana Partners LLC grew its position in ClearSign Technologies by 83.3% in the 4th 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. Renaissance Technologies LLC grew its position in ClearSign Technologies by 89.6% in the 4th quarter. Renaissance Technologies LLC now owns 77,800 shares of the technology company’s stock valued at $43,000 after acquiring an additional 36,769 shares in the last quarter. Finally, Rockefeller Capital Management L.P. increased its stake 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. 24.03% of the stock is currently owned by hedge funds and other 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.