ClearSign Technologies (NASDAQ:CLIR) Stock Price Passes Below Two Hundred Day Moving Average – Here’s What Happened

ClearSign Technologies Corporation (NASDAQ:CLIR)’s share price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $5.22 and traded as low as $3.70. ClearSign Technologies shares last traded at $3.75, with a volume of 5,992 shares.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ClearSign Technologies in a research report on Wednesday, June 24th. HC Wainwright increased their target price 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. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, ClearSign Technologies currently has an average rating of “Hold” and an average target price of $20.00.

ClearSign Technologies Stock Down 1.9%

The company has a market cap of $23.22 million, a P/E ratio of -3.72 and a beta of 1.37. The stock’s 50-day moving average price is $4.26 and its 200 day moving average price is $5.21.

ClearSign Technologies (NASDAQ:CLIR) last announced its earnings results on Friday, May 15th. The technology company reported ($0.39) earnings per share 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 business had revenue of $0.19 million for the quarter, compared to the consensus estimate of $1.27 million. Analysts expect that ClearSign Technologies Corporation will post -0.99 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ClearSign Technologies

Several institutional investors have recently added to or reduced their stakes in CLIR. Rockefeller Capital Management L.P. raised its holdings in shares of ClearSign Technologies by 801.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 81,209 shares of the technology company’s stock valued at $45,000 after buying an additional 72,200 shares during the last quarter. Renaissance Technologies LLC increased its position in ClearSign Technologies by 89.6% in the 4th 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. Northwestern Mutual Wealth Management Co. raised its stake 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 worth $40,000 after acquiring an additional 64,523 shares during the last quarter. Finally, Americana Partners LLC lifted its position in shares of ClearSign Technologies by 83.3% during the fourth 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 in the last quarter. 24.03% of the stock is 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.