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

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 $0.70 and traded as low as $0.5820. ClearSign Technologies shares last traded at $0.6035, with a volume of 118,532 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ClearSign Technologies in a research note on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $2.00.

ClearSign Technologies Price Performance

The business has a 50-day moving average of $0.68 and a 200-day moving average of $0.70. The company has a market capitalization of $32.15 million, a P/E ratio of -5.03 and a beta of 1.19.

ClearSign Technologies (NASDAQ:CLIR) last announced its earnings results on Friday, November 14th. The technology company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.01. The business had revenue of $1.03 million for the quarter, compared to the consensus estimate of $1.43 million. ClearSign Technologies had a negative net margin of 294.89% and a negative return on equity of 56.07%. Sell-side analysts predict that ClearSign Technologies Corporation will post -0.13 EPS for the current fiscal year.

Hedge Funds Weigh In On ClearSign Technologies

A hedge fund recently raised its stake in ClearSign Technologies stock. Northwestern Mutual Wealth Management Co. grew its stake in shares of ClearSign Technologies Corporation (NASDAQ:CLIR) by 895.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 71,730 shares of the technology company’s stock after acquiring an additional 64,523 shares during the period. Northwestern Mutual Wealth Management Co. owned about 0.14% of ClearSign Technologies worth $40,000 at the end of the most recent 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.