ClearSign Technologies (NASDAQ:CLIR) Given New $20.00 Price Target at HC Wainwright

ClearSign Technologies (NASDAQ:CLIR) had its target price hoisted by HC Wainwright from $2.00 to $20.00 in a research report report published on Tuesday morning,Benzinga reports. HC Wainwright currently has a buy rating on the technology company’s stock.

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

ClearSign Technologies Stock Performance

CLIR stock opened at $5.38 on Tuesday. The firm has a 50 day moving average price of $5.21 and a 200-day moving average price of $6.79. ClearSign Technologies has a 52-week low of $3.24 and a 52-week high of $11.20. The firm has a market capitalization of $29.11 million, a price-to-earnings ratio of -4.48 and a beta of 1.27.

ClearSign Technologies (NASDAQ:CLIR) last announced its quarterly earnings data on Tuesday, March 31st. The technology company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.21. ClearSign Technologies had a negative net margin of 105.01% and a negative return on equity of 53.54%. The company had revenue of $3.67 million during the quarter, compared to analyst estimates of $2.43 million. As a group, sell-side analysts forecast that ClearSign Technologies will post -0.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ClearSign Technologies

A number of hedge funds have recently added to or reduced their stakes in CLIR. Northwestern Mutual Wealth Management Co. raised its holdings in ClearSign Technologies by 895.3% in the 2nd 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 last quarter. Americana Partners LLC raised its stake in ClearSign Technologies by 83.3% during the 4th quarter. Americana Partners LLC now owns 55,000 shares of the technology company’s stock valued at $31,000 after buying an additional 25,000 shares during the last quarter. Renaissance Technologies LLC raised its stake in ClearSign Technologies by 89.6% during the 4th quarter. Renaissance Technologies LLC now owns 77,800 shares of the technology company’s stock valued at $43,000 after buying an additional 36,769 shares during the last quarter. Finally, Rockefeller Capital Management L.P. raised its stake in ClearSign Technologies by 801.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 81,209 shares of the technology company’s stock valued at $45,000 after buying an additional 72,200 shares during the last quarter. 24.03% of the stock is currently owned by hedge funds and other institutional investors.

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.