ClearSign Technologies (NASDAQ:CLIR) Shares Pass Below 200-Day Moving Average – Should You Sell?

Shares of ClearSign Technologies Co. (NASDAQ:CLIR) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $0.99 and traded as low as $0.76. ClearSign Technologies shares last traded at $0.76, with a volume of 31,688 shares.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on ClearSign Technologies in a report on Wednesday. They issued a “sell” rating for the company.

ClearSign Technologies Price Performance

The stock has a market cap of $39.68 million, a price-to-earnings ratio of -7.18 and a beta of 1.04. The stock’s 50 day simple moving average is $0.98 and its two-hundred day simple moving average is $0.98.

Institutional Trading of ClearSign Technologies

Institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC lifted its stake in ClearSign Technologies by 35.5% during the third quarter. Geode Capital Management LLC now owns 521,229 shares of the technology company’s stock worth $443,000 after purchasing an additional 136,639 shares during the period. Renaissance Technologies LLC acquired a new position in shares of ClearSign Technologies in the 4th quarter worth approximately $84,000. Raymond James Financial Inc. bought a new position in shares of ClearSign Technologies during the 4th quarter worth approximately $75,000. Citadel Advisors LLC acquired a new stake in ClearSign Technologies in the 4th quarter valued at $49,000. Finally, Northern Trust Corp boosted its stake in ClearSign Technologies by 23.8% in the 4th quarter. Northern Trust Corp now owns 75,466 shares of the technology company’s stock valued at $109,000 after buying an additional 14,521 shares in the last quarter. 24.03% of the stock is currently owned by institutional investors and hedge funds.

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.