StockNews.com Initiates Coverage on ClearSign Technologies (NASDAQ:CLIR)

StockNews.com started coverage on shares of ClearSign Technologies (NASDAQ:CLIRGet Rating) in a research note issued on Monday. The brokerage set a “sell” rating on the technology company’s stock.

Shares of ClearSign Technologies stock opened at $1.35 on Monday. The firm has a market cap of $43.42 million, a price-to-earnings ratio of -5.87 and a beta of 1.09. The business has a fifty day simple moving average of $1.35 and a 200-day simple moving average of $1.36. ClearSign Technologies has a fifty-two week low of $1.00 and a fifty-two week high of $5.38.

ClearSign Technologies (NASDAQ:CLIRGet Rating) last announced its earnings results on Wednesday, April 6th. The technology company reported ($0.04) EPS for the quarter. The firm had revenue of $0.05 million during the quarter. As a group, equities research analysts expect that ClearSign Technologies will post -0.22 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Millennium Management LLC purchased a new stake in shares of ClearSign Technologies during the second quarter valued at $94,000. Moors & Cabot Inc. purchased a new stake in ClearSign Technologies in the 3rd quarter worth about $42,000. Traynor Capital Management Inc. lifted its stake in ClearSign Technologies by 61.9% in the 4th quarter. Traynor Capital Management Inc. now owns 34,000 shares of the technology company’s stock worth $46,000 after acquiring an additional 13,000 shares in the last quarter. Bank of Montreal Can lifted its stake in ClearSign Technologies by 49.2% in the 1st quarter. Bank of Montreal Can now owns 53,400 shares of the technology company’s stock worth $91,000 after acquiring an additional 17,600 shares in the last quarter. Finally, Morgan Stanley lifted its stake in ClearSign Technologies by 26.4% in the 1st quarter. Morgan Stanley now owns 108,343 shares of the technology company’s stock worth $615,000 after acquiring an additional 22,603 shares in the last quarter. 8.42% of the stock is owned by institutional investors and hedge funds.

About ClearSign Technologies (Get Rating)

ClearSign Technologies Corporation designs and develops products and technologies to enhance operational performance, energy efficiency, emission reduction, safety, and overall cost-effectiveness of industrial and commercial systems in the United States and the People's Republic of China. Its ClearSign Core Burner Technology consists of an industrial burner body and a downstream porous ceramic structure or metal flame stabilizing device; ClearSign Core Plug & Play technology provides direct burner replacement for traditional refinery process heaters; and ClearSign Eye Flame Sensor, an electrical flame sensor for industrial applications.

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