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

Shares of ClearSign Technologies Corporation (NASDAQ:CLIR) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $5.02 and traded as low as $3.74. ClearSign Technologies shares last traded at $3.98, with a volume of 18,375 shares.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CLIR. HC Wainwright lifted their price target on ClearSign Technologies from $2.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, April 14th. Weiss Ratings restated a “sell (d-)” rating on shares of ClearSign Technologies in a report on Wednesday, June 24th. One equities 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 currently has a consensus rating of “Hold” and an average target price of $20.00.

ClearSign Technologies Trading Down 4.6%

The stock has a market capitalization of $24.32 million, a price-to-earnings ratio of -3.89 and a beta of 1.37. The company has a fifty day moving average of $4.00 and a two-hundred day moving average of $5.00.

ClearSign Technologies (NASDAQ:CLIR) last announced its quarterly earnings results on Friday, May 15th. The technology company reported ($0.39) 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 for the quarter, compared to analyst estimates of $1.27 million. As a group, sell-side analysts predict that ClearSign Technologies Corporation will post -1.11 earnings per share for the current fiscal year.

Insider Transactions at ClearSign Technologies

In other news, major shareholder John M. Pasquesi bought 500,000 shares of the stock in a transaction that occurred on Wednesday, July 22nd. The shares were acquired at an average cost of $3.54 per share, for a total transaction of $1,770,000.00. Following the purchase, the insider owned 1,343,477 shares of the company’s stock, valued at $4,755,908.58. This represents a 59.28% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 5.22% of the company’s stock.

Institutional Investors Weigh In On ClearSign Technologies

A number of hedge funds have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. grew its position in shares of 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 purchasing an additional 64,523 shares during the last quarter. Americana Partners LLC lifted its position in shares of ClearSign Technologies by 83.3% during the 4th quarter. Americana Partners LLC now owns 55,000 shares of the technology company’s stock worth $31,000 after purchasing an additional 25,000 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of 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 purchasing an additional 36,769 shares during the last quarter. Finally, Rockefeller Capital Management L.P. boosted its stake in ClearSign Technologies by 801.4% during the 4th 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. 24.03% of the stock is currently owned by 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.