ClearSign Technologies Co. (NASDAQ:CLIR) Short Interest Update

ClearSign Technologies Co. (NASDAQ:CLIR) was the recipient of a large decline in short interest in August. As of August 31st, there was short interest totalling 278,200 shares, a decline of 8.5% from the August 15th total of 304,000 shares. Based on an average daily trading volume, of 75,000 shares, the short-interest ratio is currently 3.7 days.

Insider Activity

In other news, major shareholder Robert Thurston Sr Hoffman, Sr. bought 3,350,000 shares of the firm’s stock in a transaction on 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 purchase, the insider now owns 9,539,857 shares in the company, valued at $8,681,269.87. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 16.90% of the company’s stock.

Hedge Funds Weigh In On ClearSign Technologies

A hedge fund recently bought a new stake in ClearSign Technologies stock. Prevail Innovative Wealth Advisors LLC purchased a new position in ClearSign Technologies Co. (NASDAQ:CLIR) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 46,306 shares of the technology company’s stock, valued at approximately $45,000. Prevail Innovative Wealth Advisors LLC owned about 0.10% of ClearSign Technologies as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 24.03% of the company’s stock.

ClearSign Technologies Stock Performance

Shares of NASDAQ:CLIR remained flat at $0.71 during midday trading on Tuesday. 14,914 shares of the company were exchanged, compared to its average volume of 66,540. The firm has a market capitalization of $35.64 million, a PE ratio of -6.08 and a beta of 1.05. The company’s 50 day moving average is $0.78 and its two-hundred day moving average is $0.85. ClearSign Technologies has a 12-month low of $0.62 and a 12-month high of $1.72.

ClearSign Technologies (NASDAQ:CLIR) last released its quarterly earnings data on Wednesday, August 21st. The technology company reported ($0.04) EPS for the quarter, meeting the consensus estimate of ($0.04). The business had revenue of $0.05 million during the quarter, compared to the consensus estimate of $0.33 million. ClearSign Technologies had a negative net margin of 210.18% and a negative return on equity of 66.91%. During the same quarter in the prior year, the firm earned ($0.04) EPS. As a group, sell-side analysts forecast that ClearSign Technologies will post -0.13 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CLIR shares. StockNews.com initiated coverage on ClearSign Technologies in a research note on Sunday. They issued a “sell” rating for the company. HC Wainwright reissued a “buy” rating and set a $6.00 target price on shares of ClearSign Technologies in a research note on Thursday, August 22nd.

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.