StockNews.com Initiates Coverage on ClearSign Technologies (NASDAQ:CLIR)

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

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

ClearSign Technologies Trading Up 6.6 %

Shares of CLIR stock opened at $0.97 on Wednesday. ClearSign Technologies has a 12 month low of $0.50 and a 12 month high of $1.75. The stock has a market cap of $37.41 million, a PE ratio of -6.93 and a beta of 1.03. The company’s fifty day moving average price is $1.00 and its 200-day moving average price is $1.15.

ClearSign Technologies (NASDAQ:CLIR) last announced its quarterly earnings results on Monday, August 14th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.04). The company had revenue of $0.15 million for the quarter, compared to analysts’ expectations 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, sell-side analysts forecast that ClearSign Technologies will post -0.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CLIR. Bank of Montreal Can boosted its position in shares of ClearSign Technologies by 49.2% during the 1st quarter. Bank of Montreal Can now owns 53,400 shares of the technology company’s stock valued at $91,000 after acquiring an additional 17,600 shares during the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in shares of ClearSign Technologies during the second quarter valued at $580,000. Charles Schwab Investment Management Inc. purchased a new position in shares of ClearSign Technologies during the second quarter valued at $33,000. Geode Capital Management LLC increased its stake in shares of ClearSign Technologies by 24.7% during the second quarter. Geode Capital Management LLC now owns 322,830 shares of the technology company’s stock valued at $423,000 after buying an additional 63,874 shares during the period. Finally, BlackRock Inc. grew its stake in ClearSign Technologies by 5.4% in the second quarter. BlackRock Inc. now owns 281,854 shares of the technology company’s stock valued at $369,000 after purchasing an additional 14,486 shares during the last quarter. 6.86% of the stock is currently owned by institutional investors.

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.