ClearSign Technologies (NASDAQ:CLIR) Shares Cross Below 200-Day Moving Average of $1.15

Shares of ClearSign Technologies Co. (NASDAQ:CLIR) passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $1.15 and traded as low as $0.75. ClearSign Technologies shares last traded at $0.84, with a volume of 48,462 shares.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. HC Wainwright reiterated a “buy” rating and issued a $6.00 target price on shares of ClearSign Technologies in a research report on Thursday. StockNews.com assumed coverage on ClearSign Technologies in a research report on Thursday. They issued a “sell” rating on the stock.

ClearSign Technologies Trading Up 2.5 %

The company has a 50-day simple moving average of $0.98 and a 200 day simple moving average of $1.15. The firm has a market cap of $32.05 million, a PE ratio of -5.72 and a beta of 1.03.

ClearSign Technologies (NASDAQ:CLIR) last announced its earnings results on Monday, August 14th. The technology company reported ($0.04) earnings per share for the quarter, hitting the consensus estimate of ($0.04). The business had revenue of $0.15 million during the quarter, compared to the consensus estimate of $0.61 million. ClearSign Technologies had a negative return on equity of 71.15% and a negative net margin of 471.33%. On average, equities analysts expect that ClearSign Technologies Co. will post -0.17 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in CLIR. Cambridge Investment Research Advisors Inc. purchased a new position in shares of ClearSign Technologies during the 2nd quarter worth $580,000. HighTower Advisors LLC purchased a new position in ClearSign Technologies during the 3rd quarter valued at about $137,000. Geode Capital Management LLC boosted its holdings in ClearSign Technologies by 24.7% during the 2nd quarter. Geode Capital Management LLC now owns 322,830 shares of the technology company’s stock valued at $423,000 after acquiring an additional 63,874 shares during the period. Renaissance Technologies LLC purchased a new position in ClearSign Technologies during the 2nd quarter valued at about $38,000. Finally, Charles Schwab Investment Management Inc. purchased a new position in ClearSign Technologies during the 2nd quarter valued at about $33,000. 6.86% of the stock is owned by institutional investors and hedge funds.

About ClearSign Technologies

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.