ClearSign Technologies (NASDAQ:CLIR) Shares Cross Below 200-Day Moving Average – Should You Sell?

Shares of ClearSign Technologies Corporation (NASDAQ:CLIR) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $5.22 and traded as low as $3.70. ClearSign Technologies shares last traded at $3.75, with a volume of 5,992 shares traded.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. HC Wainwright upped their price objective on shares of ClearSign Technologies from $2.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, April 14th. Weiss Ratings restated a “sell (d-)” rating on shares of ClearSign Technologies in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, ClearSign Technologies currently has a consensus rating of “Hold” and a consensus target price of $20.00.

ClearSign Technologies Price Performance

The stock’s 50 day simple moving average is $4.30 and its 200-day simple moving average is $5.22. The company has a market capitalization of $23.66 million, a PE ratio of -3.79 and a beta of 1.37.

ClearSign Technologies (NASDAQ:CLIR) last announced 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 net margin of 111.66% and a negative return on equity of 61.24%. The business had revenue of $0.19 million during the quarter, compared to analyst estimates of $1.27 million. On average, equities analysts predict that ClearSign Technologies Corporation will post -0.99 earnings per share for the current year.

Institutional Trading of ClearSign Technologies

Hedge funds have recently modified their holdings of the stock. Rockefeller Capital Management L.P. increased its holdings in 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 purchasing an additional 72,200 shares during the period. Renaissance Technologies LLC boosted its stake in shares of 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 buying an additional 36,769 shares during the period. Americana Partners LLC grew its position 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 worth $31,000 after buying an additional 25,000 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of ClearSign Technologies by 895.3% during the second 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 in the last quarter. 24.03% of the stock is currently owned by institutional investors and hedge funds.

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.