ClearSign Technologies Corporation (NASDAQ:CLIR) Sees Large Drop in Short Interest

ClearSign Technologies Corporation (NASDAQ:CLIR) saw a large drop in short interest in March. As of March 31st, there was short interest totaling 45,549 shares, a drop of 82.7% from the March 15th total of 263,955 shares. Based on an average trading volume of 20,065 shares, the days-to-cover ratio is currently 2.3 days. Approximately 0.9% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

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

ClearSign Technologies Trading Down 14.4%

NASDAQ:CLIR traded down $0.89 during trading hours on Friday, hitting $5.29. 133,081 shares of the company were exchanged, compared to its average volume of 58,193. The stock has a market capitalization of $28.62 million, a price-to-earnings ratio of -4.41 and a beta of 1.27. ClearSign Technologies has a one year low of $3.24 and a one year high of $11.20. The company has a fifty day simple moving average of $5.24 and a 200 day simple moving average of $6.82.

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Americana Partners LLC raised its position in shares of ClearSign Technologies by 83.3% in the 4th quarter. Americana Partners LLC now owns 55,000 shares of the technology company’s stock worth $31,000 after acquiring an additional 25,000 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of 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 acquiring an additional 36,769 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of 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 in the last quarter. Finally, Rockefeller Capital Management L.P. raised its position in shares of ClearSign Technologies by 801.4% in the 4th 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 in the last quarter. 24.03% of the stock is owned by institutional investors.

About ClearSign Technologies

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.