ClearSign Technologies (NASDAQ:CLIR) Announces Quarterly Earnings Results, Misses Expectations By $0.10 EPS

ClearSign Technologies (NASDAQ:CLIR) posted its earnings results on Friday. The technology company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.10), FiscalAI reports. The company had revenue of $0.19 million for the quarter, compared to analyst estimates of $1.27 million. ClearSign Technologies had a negative return on equity of 53.54% and a negative net margin of 105.01%.

ClearSign Technologies Price Performance

NASDAQ CLIR opened at $4.71 on Friday. The company has a market cap of $25.48 million, a PE ratio of -4.71 and a beta of 1.38. The stock’s 50 day simple moving average is $4.86 and its 200-day simple moving average is $6.23. ClearSign Technologies has a 1-year low of $3.24 and a 1-year high of $11.20.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of ClearSign Technologies in a research report on Friday, March 27th. HC Wainwright increased their price target on ClearSign Technologies from $2.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, April 14th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $20.00.

Hedge Funds Weigh In On ClearSign Technologies

A hedge fund recently raised its stake in ClearSign Technologies stock. Northwestern Mutual Wealth Management Co. grew its position in ClearSign Technologies Corporation (NASDAQ:CLIR) by 895.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 71,730 shares of the technology company’s stock after acquiring an additional 64,523 shares during the quarter. Northwestern Mutual Wealth Management Co. owned about 0.14% of ClearSign Technologies worth $40,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 24.03% of the company’s stock.

About ClearSign Technologies

ClearSign Technologies Corporation is a clean energy technology company specializing in advanced combustion solutions that significantly reduce emissions of nitrogen oxides (NOx), carbon monoxide (CO), and greenhouse gases from industrial and power generation sources. Established in 2010 and based in Santa Rosa, California, ClearSign has developed proprietary burner and sensing platforms designed to enhance fuel efficiency and environmental performance for gas turbines, furnaces, boilers, and incineration units.

The company’s core offerings center around two technology platforms: the XCL™ ultra-low NOx combustion system and the SGM™ (Syngas & Gas Measurement) sensor suite.