ClearSign Technologies (NASDAQ:CLIR) Issues Quarterly Earnings Results

ClearSign Technologies (NASDAQ:CLIR) released its quarterly earnings data on Friday. The technology company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.10), FiscalAI reports. ClearSign Technologies had a negative net margin of 105.01% and a negative return on equity of 53.54%. The company had revenue of $0.19 million during the quarter, compared to analysts’ expectations of $1.27 million.

ClearSign Technologies Stock Performance

Shares of CLIR opened at $4.71 on Friday. The company has a 50 day moving average price of $4.86 and a 200-day moving average price of $6.23. ClearSign Technologies has a fifty-two week low of $3.24 and a fifty-two week high of $11.20. The stock has a market capitalization of $25.48 million, a PE ratio of -3.93 and a beta of 1.38.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in ClearSign Technologies stock. Renaissance Technologies LLC increased its position in shares of ClearSign Technologies Corporation (NASDAQ:CLIR) by 89.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 77,800 shares of the technology company’s stock after acquiring an additional 36,769 shares during the quarter. Renaissance Technologies LLC owned about 0.15% of ClearSign Technologies worth $43,000 as of its most recent SEC filing. Institutional investors own 24.03% of the company’s stock.

Analyst Upgrades and Downgrades

CLIR has been the subject of several research reports. HC Wainwright upped their price target on shares of ClearSign Technologies from $2.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, April 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ClearSign Technologies in a research report on Friday, March 27th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, ClearSign Technologies presently has an average rating of “Hold” and an average target price of $20.00.

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.