ClearSign Technologies (NASDAQ:CLIR) Stock Price Crosses Below 200-Day Moving Average – Time to Sell?

ClearSign Technologies Corporation (NASDAQ:CLIR) crossed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $4.25 and traded as low as $2.86. ClearSign Technologies shares last traded at $2.88, with a volume of 33,286 shares traded.

Analyst Ratings Changes

Separately, Weiss Ratings raised ClearSign Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, October 2nd. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $20.00.

ClearSign Technologies Stock Performance

The company has a market cap of $16.68 million, a P/E ratio of -2.69 and a beta of 1.31. The stock has a 50-day moving average of $3.88 and a two-hundred day moving average of $4.23.

ClearSign Technologies (NASDAQ:CLIR) last announced its quarterly earnings data on Friday, August 14th. The technology company reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.25) by $0.03. The company had revenue of $0.56 million for the quarter, compared to the consensus estimate of $0.61 million. ClearSign Technologies had a negative net margin of 96.07% and a negative return on equity of 58.08%. Research analysts predict that ClearSign Technologies Corporation will post -1.02 EPS for the current year.

Insider Activity

In other news, major shareholder John M. Pasquesi purchased 500,000 shares of the business’s stock in a transaction dated Wednesday, July 22nd. The shares were purchased at an average price of $3.54 per share, for a total transaction of $1,770,000.00. Following the completion of the acquisition, the insider directly owned 1,343,477 shares in the company, valued at $4,755,908.58. This represents a 59.28% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 5.22% of the company’s stock.

Hedge Funds Weigh In On ClearSign Technologies

A number of hedge funds have recently added to or reduced their stakes in CLIR. Citadel Advisors LLC bought a new position in ClearSign Technologies in the 2nd quarter valued at approximately $75,000. HighTower Advisors LLC purchased a new stake in ClearSign Technologies during the 2nd quarter valued at $83,000. Northwestern Mutual Wealth Management Co. bought a new stake in shares of ClearSign Technologies in the 2nd quarter worth $26,000. Finally, Rockefeller Capital Management L.P. lifted its holdings in shares of ClearSign Technologies by 801.4% during the fourth quarter. Rockefeller Capital Management L.P. now owns 81,209 shares of the technology company’s stock valued at $45,000 after purchasing an additional 72,200 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 develops technologies designed to improve the performance, efficiency, and environmental profile of industrial and commercial combustion systems. Its solutions are intended for applications such as process heaters, boilers, furnaces, and other equipment that uses burners to generate heat.

The company’s product portfolio includes ClearSign Core, a burner technology designed to reduce nitrogen oxide emissions while supporting efficient combustion, and ClearSign Eye, a combustion-monitoring and control technology intended to improve burner safety and operating performance.