ClearSign Technologies (NASDAQ:CLIR) Share Price Passes Below 200-Day Moving Average of $0.86

ClearSign Technologies Co. (NASDAQ:CLIR)’s share price crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $0.86 and traded as low as $0.68. ClearSign Technologies shares last traded at $0.74, with a volume of 36,161 shares trading hands.

Analysts Set New Price Targets

Several analysts have recently commented on CLIR shares. StockNews.com began coverage on shares of ClearSign Technologies in a research report on Saturday. They set a “sell” rating on the stock. HC Wainwright restated a “buy” rating and issued a $6.00 target price on shares of ClearSign Technologies in a research report on Thursday, August 22nd.

ClearSign Technologies Price Performance

The company has a market cap of $36.94 million, a PE ratio of -6.13 and a beta of 1.05. The company’s 50 day simple moving average is $0.80 and its two-hundred day simple moving average is $0.86.

ClearSign Technologies (NASDAQ:CLIR) last posted its earnings results on Wednesday, August 21st. The technology company reported ($0.04) earnings per share for the quarter, meeting the consensus estimate of ($0.04). ClearSign Technologies had a negative net margin of 210.18% and a negative return on equity of 66.91%. The firm had revenue of $0.05 million during the quarter, compared to the consensus estimate of $0.33 million. During the same quarter last year, the firm earned ($0.04) EPS. Sell-side analysts expect that ClearSign Technologies Co. will post -0.13 EPS for the current fiscal year.

Insider Activity at ClearSign Technologies

In other news, major shareholder Robert Thurston Sr Hoffman, Sr. bought 3,350,000 shares of the stock in a transaction that occurred on Monday, June 24th. The stock was bought at an average cost of $0.91 per share, for a total transaction of $3,048,500.00. Following the acquisition, the insider now directly owns 9,539,857 shares of the company’s stock, valued at approximately $8,681,269.87. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 16.90% of the company’s stock.

Hedge Funds Weigh In On ClearSign Technologies

A hedge fund recently raised its stake in ClearSign Technologies stock. Disciplined Investments LLC increased its stake in ClearSign Technologies Co. (NASDAQ:CLIR) by 223.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,016 shares of the technology company’s stock after acquiring an additional 33,152 shares during the period. Disciplined Investments LLC owned approximately 0.12% of ClearSign Technologies worth $46,000 at the end of the most recent reporting period. Institutional investors own 24.03% of the company’s stock.

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.