ClearSign Technologies (NASDAQ:CLIR) Receives New Coverage from Analysts at StockNews.com

StockNews.com assumed coverage on shares of ClearSign Technologies (NASDAQ:CLIR) in a research report sent to investors on Tuesday morning. The firm issued a sell rating on the technology company’s stock.

Separately, HC Wainwright reissued a buy rating and set a $6.00 target price on shares of ClearSign Technologies in a research report on Friday, September 1st.

ClearSign Technologies Stock Up 1.0 %

CLIR opened at $0.99 on Tuesday. The stock has a fifty day moving average of $1.18 and a 200-day moving average of $1.11. The firm has a market capitalization of $38.17 million, a P/E ratio of -7.07 and a beta of 1.00. ClearSign Technologies has a 12-month low of $0.50 and a 12-month high of $1.75.

ClearSign Technologies (NASDAQ:CLIR) last posted its quarterly earnings results on Monday, August 14th. The technology company reported ($0.04) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.04). ClearSign Technologies had a negative net margin of 390.48% and a negative return on equity of 61.36%. The business had revenue of $0.15 million for the quarter, compared to the consensus estimate of $0.61 million. On average, analysts expect that ClearSign Technologies will post -0.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ClearSign Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. bought a new stake in shares of ClearSign Technologies in the second quarter valued at about $580,000. Geode Capital Management LLC lifted its stake in shares of ClearSign Technologies by 24.7% in the second quarter. Geode Capital Management LLC now owns 322,830 shares of the technology company’s stock valued at $423,000 after buying an additional 63,874 shares during the period. Renaissance Technologies LLC bought a new stake in shares of ClearSign Technologies in the second quarter valued at about $38,000. Charles Schwab Investment Management Inc. bought a new stake in shares of ClearSign Technologies in the second quarter valued at about $33,000. Finally, Bank of Montreal Can lifted its stake in ClearSign Technologies by 49.2% during the first quarter. Bank of Montreal Can now owns 53,400 shares of the technology company’s stock worth $91,000 after purchasing an additional 17,600 shares during the period. 6.86% of the stock is owned by institutional investors and hedge funds.

ClearSign Technologies Company Profile

ClearSign Technologies Corporation designs and develops 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 Burner technology provides direct burner replacement for traditional refinery process heaters; and ClearSign Eye Flame Sensor, an electrical flame sensor for industrial applications.