ClearSign Technologies (NASDAQ:CLIR) Receives New Coverage from Analysts at StockNews.com

Investment analysts at StockNews.com initiated coverage on shares of ClearSign Technologies (NASDAQ:CLIR) in a research report issued on Tuesday. The brokerage set a “sell” rating on the technology company’s stock.

Separately, HC Wainwright restated a “buy” rating and set a $6.00 price target on shares of ClearSign Technologies in a report on Friday, September 1st.

ClearSign Technologies Trading Down 2.3 %

ClearSign Technologies stock opened at $0.81 on Tuesday. The company has a market capitalization of $31.26 million, a P/E ratio of -5.79 and a beta of 1.01. The firm’s fifty day simple moving average is $1.02 and its 200-day simple moving average is $1.16. ClearSign Technologies has a 1-year low of $0.50 and a 1-year high of $1.75.

ClearSign Technologies (NASDAQ:CLIR) last released its quarterly earnings results on Monday, August 14th. The technology company reported ($0.04) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.04). The business had revenue of $0.15 million for the quarter, compared to the consensus estimate of $0.61 million. ClearSign Technologies had a negative net margin of 390.48% and a negative return on equity of 61.36%. On average, equities research analysts predict that ClearSign Technologies will post -0.17 earnings per share for the current year.

Institutional Trading of ClearSign Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. grew its position in ClearSign Technologies by 5.4% in the 2nd quarter. BlackRock Inc. now owns 281,854 shares of the technology company’s stock worth $369,000 after purchasing an additional 14,486 shares during the last quarter. Bank of Montreal Can grew its position in ClearSign Technologies by 49.2% in the 1st quarter. Bank of Montreal Can now owns 53,400 shares of the technology company’s stock worth $91,000 after purchasing an additional 17,600 shares during the last quarter. Charles Schwab Investment Management Inc. acquired a new stake in ClearSign Technologies in the 2nd quarter worth $33,000. Renaissance Technologies LLC acquired a new stake in ClearSign Technologies in the 2nd quarter worth $38,000. Finally, Geode Capital Management LLC boosted its position in shares of ClearSign Technologies by 24.7% during the 2nd quarter. Geode Capital Management LLC now owns 322,830 shares of the technology company’s stock valued at $423,000 after acquiring an additional 63,874 shares in the last quarter. 6.86% of the stock is currently owned by institutional investors and hedge funds.

About ClearSign Technologies

ClearSign Technologies Corporation designs and develops technologies to enhance operational performance, energy efficiency, emission reduction, safety, and overall cost-effectiveness of industrial and commercial systems in the United States and the People's Republic of China. Its ClearSign Core Burner Technology consists of an industrial burner body and a downstream porous ceramic structure or metal flame stabilizing device; ClearSign Core Plug & Play Burner technology provides direct burner replacement for traditional refinery process heaters; and ClearSign Eye Flame Sensor, an electrical flame sensor for industrial applications.