ClearSign Technologies (NASDAQ:CLIR) Shares Cross Above 50 Day Moving Average – Here’s What Happened

Shares of ClearSign Technologies Corporation (NASDAQ:CLIR) crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $5.25 and traded as high as $7.56. ClearSign Technologies shares last traded at $6.94, with a volume of 671,565 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ClearSign Technologies in a report on Friday, March 27th. One equities research 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, ClearSign Technologies presently has a consensus rating of “Hold” and a consensus price target of $20.00.

ClearSign Technologies Stock Performance

The firm has a market capitalization of $35.00 million, a PE ratio of -5.39 and a beta of 1.27. The company’s 50 day simple moving average is $5.25 and its 200-day simple moving average is $6.85.

ClearSign Technologies (NASDAQ:CLIR) last posted its earnings results on Tuesday, March 31st. The technology company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $0.21. ClearSign Technologies had a negative net margin of 294.89% and a negative return on equity of 56.07%. The business had revenue of $3.67 million for the quarter, compared to analysts’ expectations of $2.43 million. On average, equities research analysts forecast that ClearSign Technologies Corporation will post -0.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ClearSign Technologies

A number of institutional investors have recently made changes to their positions in the stock. Rockefeller Capital Management L.P. increased its holdings in shares of ClearSign Technologies by 801.4% in the 4th 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 during the last quarter. Renaissance Technologies LLC grew its holdings 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 purchasing an additional 36,769 shares during the last quarter. Americana Partners LLC grew its holdings 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 valued at $31,000 after purchasing an additional 25,000 shares during the last quarter. Beacon Pointe Advisors LLC bought a new position in shares of ClearSign Technologies during the 2nd quarter valued at $145,000. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of ClearSign Technologies by 895.3% during the 2nd 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. Institutional investors own 24.03% of the company’s stock.

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.