ClearSign Technologies (NASDAQ:CLIR) Now Covered by Analysts at StockNews.com

Equities researchers at StockNews.com began coverage on shares of ClearSign Technologies (NASDAQ:CLIR) in a research report issued on Thursday. The brokerage set a “sell” rating on the technology company’s stock.

Separately, HC Wainwright reaffirmed a “buy” rating and set a $6.00 price objective on shares of ClearSign Technologies in a research report on Tuesday, May 28th.

ClearSign Technologies Stock Performance

NASDAQ:CLIR opened at $0.79 on Thursday. The stock has a 50-day simple moving average of $0.79 and a 200-day simple moving average of $0.97. The stock has a market cap of $36.21 million, a P/E ratio of -6.57 and a beta of 1.12. ClearSign Technologies has a 1 year low of $0.62 and a 1 year high of $1.72.

ClearSign Technologies (NASDAQ:CLIR) last released its quarterly earnings data on Wednesday, May 15th. The technology company reported ($0.03) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.03). The business had revenue of $1.10 million during the quarter, compared to analysts’ expectations of $1.02 million. ClearSign Technologies had a negative return on equity of 85.65% and a negative net margin of 186.63%. On average, equities research analysts predict that ClearSign Technologies will post -0.12 EPS for the current year.

Insider Buying and Selling at ClearSign Technologies

In other ClearSign Technologies news, major shareholder Robert Thurston Sr Hoffman, Sr. bought 3,350,000 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was acquired at an average cost of $0.91 per share, with a total value of $3,048,500.00. Following the purchase, the insider now owns 9,539,857 shares in the company, valued at approximately $8,681,269.87. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 16.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On ClearSign Technologies

A hedge fund recently bought a new stake in ClearSign Technologies stock. Prevail Innovative Wealth Advisors LLC purchased a new position in ClearSign Technologies Co. (NASDAQ:CLIR) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 46,306 shares of the technology company’s stock, valued at approximately $45,000. Prevail Innovative Wealth Advisors LLC owned 0.10% of ClearSign Technologies at the end of the most recent reporting period. 24.03% of the stock is currently owned by 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.