ClearSign Technologies (NASDAQ:CLIR) Stock Price Crosses Above 50 Day Moving Average – Here’s Why
by Doug Wharley · The Cerbat GemClearSign Technologies Corporation (NASDAQ:CLIR – Get Free Report)’s stock price crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $5.14 and traded as high as $5.50. ClearSign Technologies shares last traded at $5.16, with a volume of 15,246 shares.
Analysts Set New Price Targets
Several brokerages have recently weighed in on CLIR. HC Wainwright upped their price objective on shares of ClearSign Technologies from $2.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, April 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of ClearSign Technologies in a report on Friday, March 27th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, ClearSign Technologies currently has a consensus rating of “Hold” and a consensus price target of $20.00.
View Our Latest Report on CLIR
ClearSign Technologies Stock Performance
The company has a market cap of $27.46 million, a price-to-earnings ratio of -4.23 and a beta of 1.27. The stock’s fifty day moving average is $5.11 and its two-hundred day moving average is $6.64.
ClearSign Technologies (NASDAQ:CLIR – Get Free Report) last posted its earnings results on Tuesday, March 31st. The technology company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.21. ClearSign Technologies had a negative net margin of 105.01% and a negative return on equity of 53.54%. The company had revenue of $3.67 million for the quarter, compared to analyst estimates of $2.43 million. On average, equities research analysts expect that ClearSign Technologies Corporation will post -1.06 EPS for the current year.
Institutional Investors Weigh In On ClearSign Technologies
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Rockefeller Capital Management L.P. raised its holdings in shares of ClearSign Technologies by 801.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 81,209 shares of the technology company’s stock worth $45,000 after acquiring an additional 72,200 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of ClearSign Technologies by 89.6% in the 4th quarter. Renaissance Technologies LLC now owns 77,800 shares of the technology company’s stock worth $43,000 after acquiring an additional 36,769 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of ClearSign Technologies by 895.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 71,730 shares of the technology company’s stock worth $40,000 after acquiring an additional 64,523 shares during the last quarter. Finally, Americana Partners LLC raised its holdings in shares of ClearSign Technologies by 83.3% in the 4th quarter. Americana Partners LLC now owns 55,000 shares of the technology company’s stock worth $31,000 after acquiring an additional 25,000 shares during the last quarter. Institutional investors and hedge funds own 24.03% of the company’s stock.
ClearSign Technologies Company Profile
ClearSign Technologies Corporation is a clean energy technology company specializing in advanced combustion solutions that significantly reduce emissions of nitrogen oxides (NOx), carbon monoxide (CO), and greenhouse gases from industrial and power generation sources. Established in 2010 and based in Santa Rosa, California, ClearSign has developed proprietary burner and sensing platforms designed to enhance fuel efficiency and environmental performance for gas turbines, furnaces, boilers, and incineration units.
The company’s core offerings center around two technology platforms: the XCL™ ultra-low NOx combustion system and the SGM™ (Syngas & Gas Measurement) sensor suite.