ClearSign Technologies (NASDAQ:CLIR) Issues Earnings Results

ClearSign Technologies (NASDAQ:CLIR) released its earnings results on Friday. The technology company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.10), FiscalAI reports. The firm had revenue of $0.19 million during the quarter, compared to analysts’ expectations of $1.27 million. ClearSign Technologies had a negative net margin of 105.01% and a negative return on equity of 53.54%.

ClearSign Technologies Stock Performance

CLIR stock traded down $0.49 during trading on Friday, hitting $4.71. 21,737 shares of the company traded hands, compared to its average volume of 27,667. The firm has a market capitalization of $25.48 million, a PE ratio of -3.92 and a beta of 1.38. ClearSign Technologies has a 1 year low of $3.24 and a 1 year high of $11.20. The company has a 50-day moving average of $4.88 and a 200-day moving average of $6.24.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in ClearSign Technologies stock. Northwestern Mutual Wealth Management Co. grew its holdings in shares of ClearSign Technologies Corporation (NASDAQ:CLIR) by 895.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 71,730 shares of the technology company’s stock after buying an additional 64,523 shares during the quarter. Northwestern Mutual Wealth Management Co. owned 0.14% of ClearSign Technologies worth $40,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 24.03% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on CLIR. HC Wainwright boosted their price target on shares of ClearSign Technologies from $2.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, April 14th. Weiss Ratings reissued 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 given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $20.00.

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.