ClearSign Technologies (NASDAQ:CLIR) Issues Quarterly Earnings Results

ClearSign Technologies (NASDAQ:CLIR) announced its earnings results on Friday. The technology company reported ($0.22) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.03, Zacks reports. ClearSign Technologies had a negative net margin of 111.66% and a negative return on equity of 61.24%. The firm had revenue of $0.56 million for the quarter, compared to analyst estimates of $0.61 million.

ClearSign Technologies Price Performance

Shares of NASDAQ:CLIR opened at $4.65 on Friday. The business has a fifty day moving average price of $3.85 and a 200-day moving average price of $4.70. The company has a market capitalization of $29.34 million, a PE ratio of -4.70 and a beta of 1.38. ClearSign Technologies has a 1-year low of $3.16 and a 1-year high of $11.20.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of ClearSign Technologies in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, ClearSign Technologies has an average rating of “Hold” and a consensus target price of $20.00.

Insider Transactions at ClearSign Technologies

In other news, major shareholder John M. Pasquesi purchased 500,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 22nd. The shares were bought at an average price of $3.54 per share, for a total transaction of $1,770,000.00. Following the purchase, the insider directly owned 1,343,477 shares in the company, valued at approximately $4,755,908.58. This trade represents a 59.28% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 5.22% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

An institutional investor recently raised its stake in ClearSign Technologies stock. Northwestern Mutual Wealth Management Co. grew its position in shares of ClearSign Technologies Corporation (NASDAQ:CLIR) by 895.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 71,730 shares of the technology company’s stock after buying an additional 64,523 shares during the quarter. Northwestern Mutual Wealth Management Co. owned 0.14% of ClearSign Technologies worth $40,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 24.03% of the company’s stock.

About ClearSign Technologies

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.