Insider Buying: ClearSign Technologies Co. (NASDAQ:CLIR) Major Shareholder Purchases $3,048,500.00 in Stock

ClearSign Technologies Co. (NASDAQ:CLIR) major shareholder Robert Thurston Sr Hoffman, Sr. bought 3,350,000 shares of the firm’s stock in a transaction that occurred 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 completion of the purchase, the insider now owns 9,539,857 shares in the company, valued at $8,681,269.87. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

ClearSign Technologies Stock Performance

Shares of NASDAQ CLIR opened at $0.83 on Friday. The firm has a market cap of $38.30 million, a PE ratio of -6.95 and a beta of 1.12. ClearSign Technologies Co. has a one year low of $0.62 and a one year high of $1.72. The firm has a fifty day moving average of $0.79 and a 200 day moving average of $0.97.

ClearSign Technologies (NASDAQ:CLIR) last issued its quarterly earnings results on Wednesday, May 15th. The technology company reported ($0.03) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.03). ClearSign Technologies had a negative net margin of 186.63% and a negative return on equity of 85.65%. The firm had revenue of $1.10 million for the quarter, compared to analyst estimates of $1.02 million. On average, equities analysts predict that ClearSign Technologies Co. will post -0.12 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. 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. StockNews.com assumed coverage on ClearSign Technologies in a research report on Thursday. They set a “sell” rating on the stock.

Hedge Funds Weigh In On ClearSign Technologies

A hedge fund recently raised its stake in ClearSign Technologies stock. Disciplined Investments LLC boosted its position in ClearSign Technologies Co. (NASDAQ:CLIR) by 223.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund 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 reporting period. Hedge funds and other institutional investors own 24.03% of the company’s stock.

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.