ClearSign Technologies (NASDAQ:CLIR) Major Shareholder John Pasquesi Purchases 500,000 Shares of Stock

ClearSign Technologies Corporation (NASDAQ:CLIR) major shareholder John Pasquesi acquired 500,000 shares of the business’s stock in a transaction dated Wednesday, July 22nd. The stock was acquired at an average price of $3.54 per share, for a total transaction of $1,770,000.00. Following the completion of the transaction, the insider owned 1,343,477 shares in the company, valued at approximately $4,755,908.58. The trade was a 59.28% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

ClearSign Technologies Stock Performance

CLIR opened at $3.96 on Wednesday. The stock has a market capitalization of $25.02 million, a PE ratio of -4.01 and a beta of 1.37. The stock’s 50 day moving average price is $4.00 and its 200-day moving average price is $5.00. ClearSign Technologies Corporation has a 52-week low of $3.16 and a 52-week high of $11.20.

ClearSign Technologies (NASDAQ:CLIR) last announced its quarterly earnings results on Friday, May 15th. The technology company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.10). The business had revenue of $0.19 million during the quarter, compared to analysts’ expectations of $1.27 million. ClearSign Technologies had a negative return on equity of 61.24% and a negative net margin of 111.66%. Research analysts forecast that ClearSign Technologies Corporation will post -1.11 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. raised its stake in ClearSign Technologies by 895.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 71,730 shares of the technology company’s stock valued at $40,000 after buying an additional 64,523 shares during the last quarter. Americana Partners LLC grew its stake in shares of ClearSign Technologies by 83.3% in the fourth 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 during the last quarter. Renaissance Technologies LLC increased its holdings in shares of ClearSign Technologies by 89.6% during the fourth quarter. Renaissance Technologies LLC now owns 77,800 shares of the technology company’s stock valued at $43,000 after acquiring an additional 36,769 shares in the last quarter. Finally, Rockefeller Capital Management L.P. increased 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 valued at $45,000 after acquiring an additional 72,200 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.