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

StockNews.com assumed coverage on shares of ClearSign Technologies (NASDAQ:CLIR) in a research report report published on Sunday morning. The firm issued 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 note on Thursday, August 22nd.

ClearSign Technologies Stock Performance

ClearSign Technologies stock opened at $0.94 on Friday. The business’s 50-day simple moving average is $0.83 and its 200-day simple moving average is $0.81. The firm has a market capitalization of $47.20 million, a PE ratio of -7.83 and a beta of 1.07. ClearSign Technologies has a 52 week low of $0.62 and a 52 week high of $1.72.

ClearSign Technologies (NASDAQ:CLIR) last posted its quarterly earnings data on Wednesday, August 21st. The technology company reported ($0.04) EPS for the quarter, hitting analysts’ consensus estimates of ($0.04). The business had revenue of $0.05 million for the quarter, compared to analyst estimates of $0.33 million. ClearSign Technologies had a negative return on equity of 66.91% and a negative net margin of 210.18%. During the same period in the previous year, the company posted ($0.04) earnings per share. Research analysts forecast that ClearSign Technologies will post -0.13 earnings per share for the current year.

Institutional Investors Weigh In On ClearSign Technologies

An institutional investor recently bought a new position in ClearSign Technologies stock. Americana Partners LLC bought a new position in shares of ClearSign Technologies Co. (NASDAQ:CLIR) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 30,000 shares of the technology company’s stock, valued at approximately $25,000. Americana Partners LLC owned approximately 0.06% of ClearSign Technologies as of its most recent SEC filing. 24.03% of the stock is owned by hedge funds and other 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.