ClearSign Technologies (NASDAQ:CLIR) Stock Crosses Above 50 Day Moving Average – Here’s Why

ClearSign Technologies Co. (NASDAQ:CLIR) shares passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $1.01 and traded as high as $1.28. ClearSign Technologies shares last traded at $1.22, with a volume of 221,674 shares trading hands.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on shares of ClearSign Technologies in a research note on Saturday. They issued a “sell” rating for the company.

ClearSign Technologies Stock Performance

The firm has a market cap of $61.29 million, a price-to-earnings ratio of -11.09 and a beta of 1.14. The stock has a 50-day moving average of $1.02 and a 200-day moving average of $0.87.

Institutional Trading of ClearSign Technologies

A hedge fund recently bought a new stake in ClearSign Technologies stock. Americana Partners LLC purchased a new stake in ClearSign Technologies Co. (NASDAQ:CLIR) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 30,000 shares of the technology company’s stock, valued at approximately $25,000. Americana Partners LLC owned about 0.06% of ClearSign Technologies at the end of the most recent quarter. 24.03% of the stock is currently owned by hedge funds and other institutional investors.

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.