ClearSign Technologies (NASDAQ:CLIR) Shares Pass Below 200 Day Moving Average – Here’s Why

ClearSign Technologies Corporation (NASDAQ:CLIR) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $5.02 and traded as low as $3.74. ClearSign Technologies shares last traded at $3.98, with a volume of 18,375 shares changing hands.

Analyst Ratings Changes

A number of analysts have commented on CLIR shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ClearSign Technologies in a report on Wednesday, June 24th. HC Wainwright lifted their price objective on ClearSign Technologies from $2.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, April 14th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $20.00.

ClearSign Technologies Trading Up 14.0%

The company has a fifty day moving average price of $4.01 and a two-hundred day moving average price of $5.02. The firm has a market cap of $25.11 million, a P/E ratio of -4.02 and a beta of 1.37.

ClearSign Technologies (NASDAQ:CLIR) last posted its earnings results on Friday, May 15th. The technology company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.10). The business had revenue of $0.19 million for the quarter, compared to the consensus estimate of $1.27 million. ClearSign Technologies had a negative return on equity of 61.24% and a negative net margin of 111.66%. As a group, sell-side analysts expect that ClearSign Technologies Corporation will post -1.11 EPS for the current year.

Institutional Investors Weigh In On ClearSign Technologies

Several large investors have recently made changes to their positions in CLIR. Rockefeller Capital Management L.P. raised its holdings in shares of ClearSign Technologies by 801.4% during the fourth quarter. Rockefeller Capital Management L.P. now owns 81,209 shares of the technology company’s stock worth $45,000 after acquiring an additional 72,200 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake 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 purchasing an additional 64,523 shares during the period. Renaissance Technologies LLC boosted its stake in ClearSign Technologies by 89.6% in the 4th quarter. Renaissance Technologies LLC now owns 77,800 shares of the technology company’s stock worth $43,000 after purchasing an additional 36,769 shares during the period. Finally, Americana Partners LLC increased its holdings in 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 purchasing an additional 25,000 shares in the last quarter. Institutional investors own 24.03% of the company’s stock.

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.