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

Investment analysts at StockNews.com initiated coverage on shares of ClearSign Technologies (NASDAQ:CLIR) in a research note issued on Friday. The brokerage set a “sell” rating on the technology company’s stock.

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

ClearSign Technologies Price Performance

NASDAQ:CLIR opened at $0.87 on Friday. ClearSign Technologies has a fifty-two week low of $0.62 and a fifty-two week high of $1.72. The stock has a market capitalization of $40.01 million, a PE ratio of -7.26 and a beta of 1.05. The business’s 50-day simple moving average is $0.79 and its 200-day simple moving average is $0.96.

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

Insider Activity at ClearSign Technologies

In related news, major shareholder Robert Thurston Sr Hoffman, Sr. purchased 3,350,000 shares of the stock in a transaction on Monday, June 24th. The shares were purchased at an average price of $0.91 per share, with a total value of $3,048,500.00. Following the transaction, the insider now directly owns 9,539,857 shares of the company’s stock, valued at $8,681,269.87. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 16.90% of the stock is owned by insiders.

Institutional Investors 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 stake in ClearSign Technologies Co. (NASDAQ:CLIR) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. 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 quarter. 24.03% of the stock is 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.