StockNews.com Initiates Coverage on ClearSign Technologies (NASDAQ:CLIR)

StockNews.com initiated coverage on shares of ClearSign Technologies (NASDAQ:CLIR) in a report released on Monday. The brokerage set a “sell” rating on the technology company’s stock.

Separately, HC Wainwright reaffirmed a “buy” rating and set a $6.00 target price on shares of ClearSign Technologies in a report on Tuesday, May 28th.

ClearSign Technologies Trading Down 1.5 %

Shares of CLIR stock opened at $0.86 on Monday. ClearSign Technologies has a 1 year low of $0.62 and a 1 year high of $1.72. The firm’s fifty day moving average price is $0.82 and its two-hundred day moving average price is $0.92. The firm has a market capitalization of $43.19 million, a P/E ratio of -7.17 and a beta of 1.05.

ClearSign Technologies (NASDAQ:CLIR) last released its quarterly earnings data on Wednesday, May 15th. The technology company reported ($0.03) earnings per share for the quarter, hitting the consensus estimate of ($0.03). The company had revenue of $1.10 million for the quarter, compared to analyst estimates 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 research analysts forecast that ClearSign Technologies will post -0.12 EPS for the current fiscal year.

Insider Buying and Selling at ClearSign Technologies

In other ClearSign Technologies news, major shareholder Robert Thurston Sr Hoffman, Sr. acquired 3,350,000 shares of the business’s stock in a transaction on Monday, June 24th. The stock was purchased at an average price of $0.91 per share, with a total value of $3,048,500.00. Following the acquisition, the insider now directly owns 9,539,857 shares of the company’s stock, valued at approximately $8,681,269.87. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 16.90% of the company’s stock.

Institutional Trading of ClearSign Technologies

A hedge fund recently bought a new stake in ClearSign Technologies stock. Prevail Innovative Wealth Advisors LLC purchased a new position in shares of ClearSign Technologies Co. (NASDAQ:CLIR) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 46,306 shares of the technology company’s stock, valued at approximately $45,000. Prevail Innovative Wealth Advisors LLC owned 0.10% of ClearSign Technologies at the end of the most recent quarter. 24.03% of the stock is owned by institutional investors and hedge funds.

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.