ClearSign Technologies (NASDAQ:CLIR) Releases Quarterly Earnings Results, Meets Expectations

ClearSign Technologies (NASDAQ:CLIR) issued its quarterly earnings data on Wednesday. The technology company reported ($0.04) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.04), Zacks reports. ClearSign Technologies had a negative return on equity of 85.65% and a negative net margin of 186.63%. The company had revenue of $0.05 million for the quarter, compared to the consensus estimate of $0.33 million. During the same quarter last year, the business posted ($0.04) earnings per share.

ClearSign Technologies Price Performance

CLIR traded up $0.10 on Friday, hitting $0.81. The company had a trading volume of 84,879 shares, compared to its average volume of 69,209. ClearSign Technologies has a 52-week low of $0.62 and a 52-week high of $1.72. The firm has a market capitalization of $40.72 million, a P/E ratio of -6.76 and a beta of 1.05. The stock has a fifty day simple moving average of $0.80 and a 200-day simple moving average of $0.88.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. HC Wainwright restated a “buy” rating and set a $6.00 price objective on shares of ClearSign Technologies in a research report on Thursday. StockNews.com started coverage on ClearSign Technologies in a research note on Thursday. They set a “sell” rating for the company.

Insider Activity

In related 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 acquired at an average cost of $0.91 per share, with a total value of $3,048,500.00. Following the completion of the acquisition, the insider now owns 9,539,857 shares of the company’s stock, valued at approximately $8,681,269.87. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 16.90% of the stock is currently owned by company insiders.

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.