ClearSign Technologies (NASDAQ:CLIR) Shares Pass Below Two Hundred Day Moving Average – Here’s What Happened

ClearSign Technologies Corporation (NASDAQ:CLIR) shares crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $0.70 and traded as low as $0.6315. ClearSign Technologies shares last traded at $0.6826, with a volume of 226,530 shares.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of ClearSign Technologies in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $2.00.

ClearSign Technologies Stock Performance

The firm has a market cap of $36.36 million, a price-to-earnings ratio of -5.69 and a beta of 1.19. The company has a 50 day moving average price of $0.70 and a 200 day moving average price of $0.70.

ClearSign Technologies (NASDAQ:CLIR) last issued its quarterly earnings data on Friday, November 14th. The technology company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.01. ClearSign Technologies had a negative net margin of 294.89% and a negative return on equity of 56.07%. The firm had revenue of $1.03 million for the quarter, compared to analyst estimates of $1.43 million. On average, research analysts forecast that ClearSign Technologies Corporation will post -0.13 earnings per share for the current year.

Hedge Funds Weigh In On ClearSign Technologies

An institutional investor recently raised its position in ClearSign Technologies stock. Northwestern Mutual Wealth Management Co. raised its position in shares of ClearSign Technologies Corporation (NASDAQ:CLIR) by 895.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 71,730 shares of the technology company’s stock after buying an additional 64,523 shares during the period. Northwestern Mutual Wealth Management Co. owned about 0.14% of ClearSign Technologies worth $40,000 as of its most recent filing with the Securities & Exchange Commission. 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.