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

Investment analysts at StockNews.com started coverage on shares of ClearSign Technologies (NASDAQ:CLIR) in a report released on Wednesday. The firm set a “sell” rating on the technology company’s stock.

Separately, HC Wainwright lowered their price target on shares of ClearSign Technologies from $6.00 to $2.00 and set a “buy” rating for the company in a report on Thursday, April 17th.

ClearSign Technologies Stock Performance

Shares of CLIR stock opened at $0.71 on Wednesday. ClearSign Technologies has a 52 week low of $0.46 and a 52 week high of $1.72. The stock has a market capitalization of $37.20 million, a PE ratio of -6.45 and a beta of 1.16. The stock’s fifty day moving average is $0.64 and its 200-day moving average is $0.92.

ClearSign Technologies (NASDAQ:CLIR) last issued its quarterly earnings data on Wednesday, April 2nd. The technology company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.01. The firm had revenue of $0.60 million for the quarter, compared to analyst estimates of $1.55 million. ClearSign Technologies had a negative net margin of 118.93% and a negative return on equity of 50.44%. As a group, analysts forecast that ClearSign Technologies will post -0.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ClearSign Technologies

Large investors have recently made changes to their positions in the company. Citadel Advisors LLC acquired a new stake in ClearSign Technologies in the fourth quarter worth about $49,000. Integrity Alliance LLC. bought a new position in shares of ClearSign Technologies in the 1st quarter valued at about $30,000. Raymond James Financial Inc. acquired a new stake in shares of ClearSign Technologies during the 4th quarter worth approximately $75,000. Renaissance Technologies LLC bought a new stake in shares of ClearSign Technologies during the fourth quarter worth approximately $84,000. Finally, Northern Trust Corp raised its stake in shares of ClearSign Technologies by 23.8% during the fourth quarter. Northern Trust Corp now owns 75,466 shares of the technology company’s stock worth $109,000 after buying an additional 14,521 shares during the last quarter. Institutional investors and hedge funds own 24.03% of the company’s stock.

ClearSign Technologies Company Profile

ClearSign Technologies Corporation designs and develops products and technologies to enhance emission and operational performance, energy efficiency, emission reduction, safety, and overall cost-effectiveness of industrial and commercial systems in the United States, the People's Republic of China, and Hong Kong.