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

StockNews.com began coverage on shares of ClearSign Technologies (NASDAQ:CLIR) in a research report report published on Saturday. The firm issued a sell rating on the technology company’s stock.

Separately, HC Wainwright reaffirmed a buy rating and issued a $6.00 target price on shares of ClearSign Technologies in a research note on Tuesday, May 28th.

ClearSign Technologies Price Performance

Shares of NASDAQ:CLIR opened at $0.83 on Friday. The company has a market capitalization of $41.67 million, a P/E ratio of -6.92 and a beta of 1.05. ClearSign Technologies has a 52-week low of $0.62 and a 52-week high of $1.72. The stock’s fifty day simple moving average is $0.80 and its 200-day simple moving average is $0.94.

ClearSign Technologies (NASDAQ:CLIR) last announced its earnings results on Wednesday, May 15th. The technology company reported ($0.03) earnings per share for the quarter, meeting the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.02 million. On average, sell-side analysts anticipate that ClearSign Technologies will post -0.12 earnings per share for the current year.

Insider Activity

In other news, major shareholder Robert Thurston Sr Hoffman, Sr. acquired 3,350,000 shares of the company’s stock in a transaction dated Monday, June 24th. The shares were bought at an average price of $0.91 per share, for a total transaction of $3,048,500.00. Following the completion of the purchase, 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 filing with the SEC, which is available at 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 bought a new stake in ClearSign Technologies Co. (NASDAQ:CLIR) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 46,306 shares of the technology company’s stock, valued at approximately $45,000. Prevail Innovative Wealth Advisors LLC owned approximately 0.10% of ClearSign Technologies as of its most recent filing with the SEC. Institutional investors and hedge funds own 24.03% of the company’s stock.

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.