ClearSign Technologies (NASDAQ:CLIR) Share Price Crosses Below 200 Day Moving Average – What’s Next?

Shares of ClearSign Technologies Corporation (NASDAQ:CLIR) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $4.87 and traded as low as $3.96. ClearSign Technologies shares last traded at $4.00, with a volume of 2,991 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CLIR. HC Wainwright upped their target price 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 reaffirmed a “sell (d-)” rating on shares of ClearSign Technologies in a research note on Wednesday, June 24th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $20.00.

ClearSign Technologies Price Performance

The business has a 50 day simple moving average of $3.89 and a 200 day simple moving average of $4.84. The stock has a market cap of $24.19 million, a PE ratio of -3.87 and a beta of 1.38.

ClearSign Technologies (NASDAQ:CLIR) last posted its 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). The business had revenue of $0.19 million for the quarter, compared to analyst estimates of $1.27 million. ClearSign Technologies had a negative return on equity of 61.24% and a negative net margin of 111.66%. As a group, sell-side analysts forecast that ClearSign Technologies Corporation will post -1.11 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Trading of ClearSign Technologies

A number of large investors have recently bought and sold shares of CLIR. Americana Partners LLC increased 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 in the last quarter. Renaissance Technologies LLC grew its stake in ClearSign Technologies by 89.6% during the fourth quarter. Renaissance Technologies LLC now owns 77,800 shares of the technology company’s stock worth $43,000 after buying an additional 36,769 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of ClearSign Technologies by 895.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 71,730 shares of the technology company’s stock worth $40,000 after buying an additional 64,523 shares in the last quarter. Finally, Rockefeller Capital Management L.P. increased its holdings in shares of ClearSign Technologies by 801.4% during the fourth quarter. Rockefeller Capital Management L.P. now owns 81,209 shares of the technology company’s stock worth $45,000 after buying an additional 72,200 shares in the last quarter. 24.03% of the stock is currently owned by institutional investors.

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.