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

by · The Cerbat Gem

StockNews.com initiated coverage on shares of ClearSign Technologies (NASDAQ:CLIR – Free Report) in a research report released on Thursday morning. The firm issued a sell rating on the technology company’s stock.

Separately, HC Wainwright reissued a buy rating and set a $6.00 target price on shares of ClearSign Technologies in a research report on Tuesday, May 28th.

Get Our Latest Analysis on CLIR

ClearSign Technologies Price Performance

Shares of ClearSign Technologies stock opened at $0.83 on Thursday. The business has a 50-day simple moving average of $0.79 and a 200 day simple moving average of $0.97. The firm has a market capitalization of $38.30 million, a price-to-earnings ratio of -6.95 and a beta of 1.12. ClearSign Technologies has a one year low of $0.62 and a one year high of $1.72.

ClearSign Technologies (NASDAQ:CLIR – Get Free Report) last issued its earnings results on Wednesday, May 15th. The technology company reported ($0.03) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.03). ClearSign Technologies had a negative return on equity of 85.65% and a negative net margin of 186.63%. The company had revenue of $1.10 million for the quarter, compared to analyst estimates of $1.02 million. On average, sell-side analysts expect that ClearSign Technologies will post -0.12 EPS for the current year.

Insider Activity at ClearSign Technologies

In related news, major shareholder Robert Thurston Sr Hoffman, Sr. acquired 3,350,000 shares of the company’s stock in a transaction on Monday, June 24th. The shares were acquired at an average cost of $0.91 per share, for a total transaction of $3,048,500.00. Following the purchase, the insider now owns 9,539,857 shares in the company, valued at $8,681,269.87. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 16.90% of the stock is owned by insiders.

Hedge Funds Weigh In On ClearSign Technologies

An institutional investor recently bought a new position in ClearSign Technologies stock. Prevail Innovative Wealth Advisors LLC purchased a new stake in shares of ClearSign Technologies Co. (NASDAQ:CLIR – Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 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. Hedge funds and other institutional investors own 24.03% of the company’s stock.

About ClearSign Technologies

(Get Free Report)

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.

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