ClearSign Technologies (NASDAQ:CLIR) Major Shareholder Purchases $1,770,000.00 in Stock

ClearSign Technologies Corporation (NASDAQ:CLIR) major shareholder John Pasquesi bought 500,000 shares of the business’s stock in a transaction on Wednesday, July 22nd. The shares were acquired at an average price of $3.54 per share, with a total value of $1,770,000.00. Following the transaction, the insider owned 1,343,477 shares of the company’s stock, valued at $4,755,908.58. The trade was a 59.28% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

ClearSign Technologies Price Performance

Shares of NASDAQ CLIR opened at $3.90 on Friday. The firm’s 50-day moving average is $3.95 and its two-hundred day moving average is $4.94. The company has a market capitalization of $24.61 million, a PE ratio of -3.94 and a beta of 1.37. ClearSign Technologies Corporation has a 12-month low of $3.16 and a 12-month high of $11.20.

ClearSign Technologies (NASDAQ:CLIR) last issued its quarterly earnings data on Friday, May 15th. The technology company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.10). ClearSign Technologies had a negative return on equity of 61.24% and a negative net margin of 111.66%.The business had revenue of $0.19 million for the quarter, compared to analysts’ expectations of $1.27 million. On average, analysts forecast that ClearSign Technologies Corporation will post -1.11 EPS for the current fiscal year.

Institutional Trading of ClearSign Technologies

Hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC increased its stake 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 valued at $43,000 after acquiring an additional 36,769 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted 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 worth $40,000 after acquiring an additional 64,523 shares during the last quarter. Rockefeller Capital Management L.P. grew its holdings in 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 purchasing an additional 72,200 shares during the period. Finally, Americana Partners LLC grew its holdings in ClearSign Technologies by 83.3% in the fourth quarter. Americana Partners LLC now owns 55,000 shares of the technology company’s stock valued at $31,000 after purchasing an additional 25,000 shares during the period. 24.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CLIR has been the topic of several recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of ClearSign Technologies in a research report on Wednesday, June 24th. HC Wainwright boosted their target price on shares of ClearSign Technologies from $2.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, April 14th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target 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.