StockNews.com Initiates Coverage on ClearSign Technologies (NASDAQ:CLIR)

StockNews.com assumed coverage on shares of ClearSign Technologies (NASDAQ:CLIR) in a research report released on Sunday morning. The brokerage issued a sell rating on the technology company’s stock.

Separately, HC Wainwright reissued a “buy” rating and set a $6.00 price objective on shares of ClearSign Technologies in a research report on Thursday, August 22nd.

ClearSign Technologies Stock Performance

CLIR opened at $0.94 on Friday. The stock has a market cap of $47.20 million, a price-to-earnings ratio of -7.83 and a beta of 1.07. ClearSign Technologies has a 1 year low of $0.62 and a 1 year high of $1.72. The stock has a fifty day moving average price of $0.83 and a 200 day moving average price of $0.81.

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

Hedge Funds Weigh In On ClearSign Technologies

A hedge fund recently bought a new stake in ClearSign Technologies stock. Americana Partners LLC bought a new stake in shares of ClearSign Technologies Co. (NASDAQ:CLIR) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 30,000 shares of the technology company’s stock, valued at approximately $25,000. Americana Partners LLC owned approximately 0.06% of ClearSign Technologies at the end of the most recent reporting period. Institutional investors and hedge funds 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.