ClearSign Technologies (NASDAQ:CLIR) Stock Price Crosses Below 200-Day Moving Average – Here’s What Happened

Shares of ClearSign Technologies Corporation (NASDAQ:CLIR) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $0.70 and traded as low as $0.5925. ClearSign Technologies shares last traded at $0.6140, with a volume of 123,591 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of ClearSign Technologies in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, ClearSign Technologies has a consensus rating of “Hold” and a consensus price target of $2.00.

ClearSign Technologies Stock Up 0.7%

The firm’s 50 day moving average is $0.64 and its 200-day moving average is $0.70. The firm has a market cap of $32.92 million, a PE ratio of -5.12 and a beta of 1.27.

ClearSign Technologies (NASDAQ:CLIR) last released its earnings results on Friday, November 14th. The technology company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.01. The firm had revenue of $1.03 million during the quarter, compared to analysts’ expectations of $1.43 million. ClearSign Technologies had a negative net margin of 294.89% and a negative return on equity of 56.07%. On average, analysts forecast that ClearSign Technologies Corporation will post -0.13 earnings per share for the current year.

Hedge Funds Weigh In On ClearSign Technologies

Several large investors have recently added to or reduced their stakes in the business. Beacon Pointe Advisors LLC purchased a new position in ClearSign Technologies in the second quarter valued at approximately $145,000. Northwestern Mutual Wealth Management Co. increased its position in shares of ClearSign Technologies by 895.3% in the second 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 in the last quarter. Renaissance Technologies LLC raised its stake 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 valued at $43,000 after acquiring an additional 36,769 shares during the period. Finally, Americana Partners LLC lifted its holdings in shares of ClearSign Technologies by 83.3% during the 4th quarter. Americana Partners LLC now owns 55,000 shares of the technology company’s stock valued at $31,000 after acquiring an additional 25,000 shares in the last quarter. 24.03% of the stock is currently owned by hedge funds and other institutional investors.

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.