ClearSign Technologies (NASDAQ:CLIR) Share Price Passes Below 200 Day Moving Average – Here’s What Happened

ClearSign Technologies Corporation (NASDAQ:CLIR) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $5.60 and traded as low as $4.08. ClearSign Technologies shares last traded at $4.14, with a volume of 12,549 shares.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Weiss Ratings restated a “sell (d-)” rating on shares of ClearSign Technologies in a research note on Friday, March 27th. HC Wainwright raised their price objective on ClearSign Technologies from $2.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, April 14th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, ClearSign Technologies currently has an average rating of “Hold” and an average price target of $20.00.

ClearSign Technologies Stock Up 1.5%

The stock has a market capitalization of $22.40 million, a PE ratio of -4.18 and a beta of 1.34. The firm has a 50 day moving average price of $4.93 and a 200-day moving average price of $5.60.

ClearSign Technologies (NASDAQ:CLIR) last announced its quarterly earnings data 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 return on equity of 61.24% and a negative net margin of 111.66%.The firm had revenue of $0.19 million during the quarter, compared to analysts’ expectations of $1.27 million. Equities analysts expect that ClearSign Technologies Corporation will post -0.99 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Americana Partners LLC raised its position in 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. Northwestern Mutual Wealth Management Co. raised its position in 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 valued at $40,000 after acquiring an additional 64,523 shares in the last quarter. Renaissance Technologies LLC raised its position in ClearSign Technologies by 89.6% during the fourth 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. raised its position 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 valued at $45,000 after acquiring an additional 72,200 shares in the last quarter. 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.