ClearSign Technologies Stock to Reverse Split on Monday, March 16th (NASDAQ:CLIR)

ClearSign Technologies Corporation (NASDAQ:CLIR) shares are set to reverse split on Monday, March 16th. The 1-10 reverse split was announced on Tuesday, March 10th. The number of shares owned by shareholders will be adjusted after the market closes on Friday, March 13th.

ClearSign Technologies Trading Down 21.6%

NASDAQ CLIR opened at $0.45 on Thursday. The company has a fifty day simple moving average of $0.63 and a 200 day simple moving average of $0.70. ClearSign Technologies has a 12-month low of $0.44 and a 12-month high of $1.12. The company has a market cap of $23.99 million, a P/E ratio of -3.73 and a beta of 1.26.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of ClearSign Technologies in a report on Monday, December 29th. 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 company presently has an average rating of “Hold” and an average target price of $2.00.

Institutional Investors Weigh In On ClearSign Technologies

A number of institutional investors have recently added to or reduced their stakes in the company. Americana Partners LLC lifted its position 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 worth $31,000 after buying an additional 25,000 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of ClearSign Technologies by 89.6% during the fourth quarter. Renaissance Technologies LLC now owns 77,800 shares of the technology company’s stock valued at $43,000 after acquiring an additional 36,769 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in ClearSign Technologies by 895.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 71,730 shares of the technology company’s stock worth $40,000 after acquiring an additional 64,523 shares during the period. Finally, Beacon Pointe Advisors LLC bought a new stake in ClearSign Technologies during the second quarter worth $145,000. 24.03% of the stock is owned by institutional investors.

About ClearSign Technologies

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.