ClearSign Technologies (NASDAQ:CLIR) Releases Quarterly Earnings Results, Beats Estimates By $0.21 EPS

ClearSign Technologies (NASDAQ:CLIR) released its quarterly earnings results on Tuesday. The technology company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.21, FiscalAI reports. The company had revenue of $3.67 million during the quarter, compared to analysts’ expectations of $2.43 million. ClearSign Technologies had a negative return on equity of 56.07% and a negative net margin of 294.89%.

ClearSign Technologies Price Performance

CLIR stock opened at $4.71 on Thursday. ClearSign Technologies has a 1 year low of $3.24 and a 1 year high of $11.20. The firm has a market capitalization of $25.26 million, a PE ratio of -3.93 and a beta of 1.26. The business has a 50 day simple moving average of $5.35 and a 200-day simple moving average of $6.84.

Wall Street Analysts Forecast Growth

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

Institutional Trading of ClearSign Technologies

Several large investors have recently added to or reduced their stakes in CLIR. Americana Partners LLC increased its stake 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 during the last quarter. 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 worth $40,000 after purchasing an additional 64,523 shares during the period. Renaissance Technologies LLC boosted its holdings in ClearSign Technologies by 89.6% in the 4th quarter. Renaissance Technologies LLC now owns 77,800 shares of the technology company’s stock valued at $43,000 after purchasing an additional 36,769 shares during the last quarter. Rockefeller Capital Management L.P. boosted its holdings in 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 valued at $45,000 after purchasing an additional 72,200 shares during the last quarter. Finally, Beacon Pointe Advisors LLC acquired a new position in ClearSign Technologies in the 2nd quarter valued at about $145,000. 24.03% of the stock is currently owned by hedge funds and other 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.