ClearSign Technologies (NASDAQ:CLIR) Share Price Crosses Above Fifty Day Moving Average – Here’s What Happened

ClearSign Technologies Corporation (NASDAQ:CLIR) crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $5.25 and traded as high as $7.56. ClearSign Technologies shares last traded at $6.94, with a volume of 671,565 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of ClearSign Technologies in a research note on Friday, March 27th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, ClearSign Technologies has a consensus rating of “Hold” and a consensus price target of $20.00.

ClearSign Technologies Price Performance

The firm has a market capitalization of $37.55 million, a price-to-earnings ratio of -5.78 and a beta of 1.27. The business’s fifty day simple moving average is $5.25 and its 200 day simple moving average is $6.86.

ClearSign Technologies (NASDAQ:CLIR) last posted its quarterly earnings results on Tuesday, March 31st. The technology company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.21. The business had revenue of $3.67 million during the quarter, compared to analysts’ expectations of $2.43 million. ClearSign Technologies had a negative net margin of 294.89% and a negative return on equity of 56.07%. Equities research analysts expect that ClearSign Technologies Corporation will post -0.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Americana Partners LLC lifted its holdings in shares of ClearSign Technologies by 83.3% in the fourth quarter. Americana Partners LLC now owns 55,000 shares of the technology company’s stock valued at $31,000 after purchasing an additional 25,000 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of ClearSign Technologies by 895.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 71,730 shares of the technology company’s stock valued at $40,000 after purchasing an additional 64,523 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of ClearSign Technologies by 89.6% in the fourth quarter. Renaissance Technologies LLC now owns 77,800 shares of the technology company’s stock valued at $43,000 after purchasing an additional 36,769 shares in the last quarter. Rockefeller Capital Management L.P. lifted its holdings in shares of ClearSign Technologies by 801.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 81,209 shares of the technology company’s stock valued at $45,000 after purchasing an additional 72,200 shares in the last quarter. Finally, Beacon Pointe Advisors LLC bought a new position in shares of ClearSign Technologies in the second quarter valued at approximately $145,000. 24.03% of the stock is currently owned by institutional investors and hedge funds.

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.