Short Interest in ClearSign Technologies Co. (NASDAQ:CLIR) Grows By 25.3%

ClearSign Technologies Co. (NASDAQ:CLIR) was the target of a large growth in short interest during the month of June. As of June 15th, there was short interest totalling 318,400 shares, a growth of 25.3% from the May 31st total of 254,200 shares. Based on an average daily trading volume, of 64,300 shares, the days-to-cover ratio is presently 5.0 days.

ClearSign Technologies Stock Performance

CLIR traded up $0.05 during trading on Monday, hitting $0.88. The stock had a trading volume of 105,808 shares, compared to its average volume of 75,248. The firm has a market capitalization of $40.41 million, a P/E ratio of -7.33 and a beta of 1.05. The company’s 50-day moving average price is $0.79 and its 200 day moving average price is $0.96. ClearSign Technologies has a twelve month low of $0.62 and a twelve month high of $1.72.

ClearSign Technologies (NASDAQ:CLIR) last announced its quarterly earnings data on Wednesday, May 15th. The technology company reported ($0.03) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.03). The company had revenue of $1.10 million for the quarter, compared to analysts’ expectations of $1.02 million. ClearSign Technologies had a negative net margin of 186.63% and a negative return on equity of 85.65%. As a group, equities analysts expect that ClearSign Technologies will post -0.12 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently commented on CLIR shares. StockNews.com started coverage on shares of ClearSign Technologies in a research report on Thursday. They issued a “sell” rating for the company. HC Wainwright reiterated a “buy” rating and issued a $6.00 price target on shares of ClearSign Technologies in a research report on Tuesday, May 28th.

Insider Transactions at ClearSign Technologies

In related news, major shareholder Robert Thurston Sr Hoffman, Sr. acquired 3,350,000 shares of ClearSign Technologies stock in a transaction dated Monday, June 24th. The stock was acquired 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 $8,681,269.87. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 16.90% of the company’s stock.

Hedge Funds Weigh In On ClearSign Technologies

A hedge fund recently raised its stake in ClearSign Technologies stock. Disciplined Investments LLC lifted 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 filing with the Securities & Exchange Commission. The firm owned 48,016 shares of the technology company’s stock after purchasing an additional 33,152 shares during the quarter. Disciplined Investments LLC owned about 0.12% of ClearSign Technologies worth $46,000 at the end of the most recent quarter. 24.03% of the stock is currently owned by institutional investors.

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.