ClearSign Technologies (NASDAQ:CLIR) Shares Pass Below Two Hundred Day Moving Average – Here’s Why

Shares of ClearSign Technologies Co. (NASDAQ:CLIR) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.81 and traded as low as $0.79. ClearSign Technologies shares last traded at $0.83, with a volume of 112,116 shares trading hands.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on CLIR shares. StockNews.com initiated coverage on ClearSign Technologies in a research report on Friday. They set a “sell” rating on the stock. HC Wainwright reissued a “buy” rating and set a $6.00 target price on shares of ClearSign Technologies in a report on Thursday, August 22nd.

ClearSign Technologies Stock Performance

The firm’s fifty day simple moving average is $0.79 and its 200 day simple moving average is $0.81. The stock has a market capitalization of $41.79 million, a P/E ratio of -6.94 and a beta of 1.06.

ClearSign Technologies (NASDAQ:CLIR) last announced its quarterly earnings data on Wednesday, August 21st. The technology company reported ($0.04) EPS for the quarter, meeting the consensus estimate of ($0.04). The business had revenue of $0.05 million during the quarter, compared to the consensus estimate of $0.33 million. ClearSign Technologies had a negative net margin of 210.18% and a negative return on equity of 66.91%. During the same period in the previous year, the business earned ($0.04) earnings per share. Analysts anticipate that ClearSign Technologies Co. will post -0.13 earnings per share for the current fiscal year.

Institutional Trading of ClearSign Technologies

An institutional investor recently bought a new position in ClearSign Technologies stock. Prevail Innovative Wealth Advisors LLC bought a new position in ClearSign Technologies Co. (NASDAQ:CLIR) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 46,306 shares of the technology company’s stock, valued at approximately $45,000. Prevail Innovative Wealth Advisors LLC owned about 0.10% of ClearSign Technologies at the end of the most recent quarter. Institutional investors own 24.03% of the company’s stock.

ClearSign Technologies Company Profile

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.