ClearSign Technologies (NASDAQ:CLIR) Coverage Initiated at StockNews.com

Analysts at StockNews.com started coverage on shares of ClearSign Technologies (NASDAQ:CLIR) in a research note issued on Saturday. The firm set a “sell” rating on the technology company’s stock.

Separately, HC Wainwright dropped their target price on ClearSign Technologies from $6.00 to $2.00 and set a “buy” rating for the company in a research report on Thursday.

ClearSign Technologies Stock Performance

ClearSign Technologies stock opened at $0.58 on Friday. The company has a market capitalization of $30.41 million, a price-to-earnings ratio of -5.27 and a beta of 1.18. The company’s 50 day simple moving average is $0.75 and its 200-day simple moving average is $0.96. ClearSign Technologies has a 1 year low of $0.46 and a 1 year high of $1.72.

ClearSign Technologies (NASDAQ:CLIR) last announced its earnings results on Wednesday, April 2nd. The technology company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.01. ClearSign Technologies had a negative return on equity of 50.44% and a negative net margin of 118.93%. The company had revenue of $0.60 million for the quarter, compared to analyst estimates of $1.55 million. Equities analysts expect that ClearSign Technologies will post -0.13 earnings per share for the current year.

Hedge Funds Weigh In On ClearSign Technologies

Several institutional investors have recently modified their holdings of the business. Citadel Advisors LLC purchased a new position in ClearSign Technologies in the fourth quarter valued at $49,000. Raymond James Financial Inc. acquired a new stake in ClearSign Technologies in the 4th quarter valued at about $75,000. Renaissance Technologies LLC purchased a new position in shares of ClearSign Technologies in the 4th quarter valued at about $84,000. Northern Trust Corp grew its position in shares of ClearSign Technologies by 23.8% during the fourth quarter. Northern Trust Corp now owns 75,466 shares of the technology company’s stock worth $109,000 after buying an additional 14,521 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of 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 buying an additional 136,639 shares during the period. Institutional investors and hedge funds own 24.03% of the company’s stock.

About ClearSign Technologies

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.