ClearSign Technologies (NASDAQ:CLIR) Share Price Passes Below 200 Day Moving Average – Time to Sell?

ClearSign Technologies Corporation (NASDAQ:CLIR)’s stock price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $5.12 and traded as low as $3.52. ClearSign Technologies shares last traded at $3.62, with a volume of 3,845 shares traded.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. HC Wainwright lifted their price objective on 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 reissued 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 assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $20.00.

ClearSign Technologies Stock Performance

The firm has a market cap of $22.84 million, a price-to-earnings ratio of -3.66 and a beta of 1.37. The company’s fifty day moving average is $4.15 and its two-hundred day moving average is $5.12.

ClearSign Technologies (NASDAQ:CLIR) last announced its quarterly earnings results on Friday, May 15th. The technology company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $0.19 million during the quarter, compared to analyst estimates of $1.27 million. As a group, analysts forecast that ClearSign Technologies Corporation will post -0.99 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ClearSign Technologies

Several hedge funds have recently modified their holdings of CLIR. Renaissance Technologies LLC lifted its position in 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 acquiring an additional 36,769 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in 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 acquiring an additional 64,523 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 purchasing an additional 72,200 shares during the period. 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 purchasing an additional 25,000 shares during the period. 24.03% of the stock is currently owned by hedge funds and other institutional investors.

ClearSign Technologies Company Profile

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.