ClearSign Technologies (NASDAQ:CLIR) Coverage Initiated at StockNews.com

Analysts at StockNews.com initiated coverage on shares of ClearSign Technologies (NASDAQ:CLIR) in a research note issued to investors on Thursday. The firm set a “sell” rating on the technology company’s stock.

Separately, HC Wainwright reiterated a “buy” rating and issued a $6.00 price objective on shares of ClearSign Technologies in a research report on Tuesday, May 28th.

ClearSign Technologies Stock Performance

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

ClearSign Technologies (NASDAQ:CLIR) last posted its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $1.02 million. Equities research analysts forecast that ClearSign Technologies will post -0.12 EPS for the current year.

Insider Activity at ClearSign Technologies

In other ClearSign Technologies news, major shareholder Robert Thurston Sr Hoffman, Sr. bought 3,350,000 shares of the company’s stock in a transaction on Monday, June 24th. The shares were bought at an average price of $0.91 per share, for a total transaction of $3,048,500.00. Following the transaction, the insider now owns 9,539,857 shares of the company’s stock, valued at approximately $8,681,269.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 16.90% of the stock is owned by insiders.

Hedge Funds Weigh In On ClearSign Technologies

An institutional investor recently raised its position in ClearSign Technologies stock. Disciplined Investments LLC increased its stake in shares of ClearSign Technologies Co. (NASDAQ:CLIR) by 223.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 48,016 shares of the technology company’s stock after buying an additional 33,152 shares during the period. Disciplined Investments LLC owned about 0.12% of ClearSign Technologies worth $46,000 as of its most recent filing with the Securities and Exchange Commission. 24.03% of the stock is currently owned by institutional investors.

ClearSign Technologies Company Profile

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.