ClearSign Technologies (NASDAQ:CLIR) Share Price Passes Below 200 Day Moving Average – Should You Sell?

ClearSign Technologies Corporation (NASDAQ:CLIR) shares crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $5.12 and traded as low as $3.52. ClearSign Technologies shares last traded at $3.62, with a volume of 3,845 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Weiss Ratings restated a “sell (d-)” rating on shares of ClearSign Technologies in a report on Wednesday, June 24th. HC Wainwright upped their target price on ClearSign Technologies from $2.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, April 14th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $20.00.

ClearSign Technologies Price Performance

The firm has a market cap of $22.84 million, a price-to-earnings ratio of -3.66 and a beta of 1.37. The stock’s fifty day moving average price is $4.15 and its 200-day moving average price is $5.12.

ClearSign Technologies (NASDAQ:CLIR) last posted its quarterly earnings data on Friday, May 15th. The technology company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.10). ClearSign Technologies had a negative return on equity of 61.24% and a negative net margin of 111.66%.The firm had revenue of $0.19 million during the quarter, compared to analyst estimates of $1.27 million. As a group, equities research analysts predict that ClearSign Technologies Corporation will post -0.99 EPS for the current fiscal year.

Hedge Funds Weigh In On ClearSign Technologies

Several institutional investors and hedge funds have recently bought and sold shares of CLIR. Americana Partners LLC lifted its position 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 purchasing an additional 25,000 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position 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 purchasing an additional 64,523 shares in the last quarter. Renaissance Technologies LLC grew its position in 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 purchasing an additional 36,769 shares in the last quarter. Finally, Rockefeller Capital Management L.P. increased its stake 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 buying an additional 72,200 shares during the period. Hedge funds and other 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.