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

Analysts at StockNews.com began coverage on shares of ClearSign Technologies (NASDAQ:CLIR) in a report released on Thursday. The brokerage set a “sell” rating on the technology company’s stock.

ClearSign Technologies Price Performance

Shares of ClearSign Technologies stock opened at $0.50 on Thursday. The firm has a 50 day simple moving average of $0.89 and a 200 day simple moving average of $0.98. ClearSign Technologies has a fifty-two week low of $0.50 and a fifty-two week high of $1.72. The firm has a market cap of $25.12 million, a P/E ratio of -4.55 and a beta of 1.18.

ClearSign Technologies (NASDAQ:CLIR) last released its earnings results on Wednesday, April 2nd. The technology company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.03) by $0.01. ClearSign Technologies had a negative return on equity of 50.44% and a negative net margin of 118.93%. The company had revenue of $0.60 million during the quarter, compared to analysts’ expectations of $1.55 million. On average, sell-side analysts expect that ClearSign Technologies will post -0.13 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its stake in shares of ClearSign Technologies by 35.5% during the third quarter. Geode Capital Management LLC now owns 521,229 shares of the technology company’s stock worth $443,000 after buying an additional 136,639 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of ClearSign Technologies during the 4th quarter valued at $84,000. Raymond James Financial Inc. acquired a new position in shares of ClearSign Technologies in the 4th quarter valued at $75,000. Citadel Advisors LLC bought a new position in shares of ClearSign Technologies in the 4th quarter worth $49,000. Finally, Northern Trust Corp boosted its position in shares of ClearSign Technologies by 23.8% in the 4th quarter. Northern Trust Corp now owns 75,466 shares of the technology company’s stock worth $109,000 after purchasing an additional 14,521 shares during the last quarter. 24.03% of the stock is currently owned by institutional investors and hedge funds.

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.