John Pasquesi Purchases 500,000 Shares of ClearSign Technologies (NASDAQ:CLIR) Stock

ClearSign Technologies Corporation (NASDAQ:CLIR) major shareholder John Pasquesi purchased 500,000 shares of ClearSign Technologies stock in a transaction dated Wednesday, July 22nd. The stock was bought at an average price of $3.54 per share, with a total value of $1,770,000.00. Following the completion of the purchase, the insider directly owned 1,343,477 shares of the company’s stock, valued at approximately $4,755,908.58. This trade represents a 59.28% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

ClearSign Technologies Stock Down 4.6%

CLIR opened at $3.85 on Thursday. The stock has a market capitalization of $24.32 million, a price-to-earnings ratio of -3.89 and a beta of 1.37. The firm has a 50 day moving average price of $3.97 and a 200-day moving average price of $4.97. ClearSign Technologies Corporation has a twelve month low of $3.16 and a twelve month high of $11.20.

ClearSign Technologies (NASDAQ:CLIR) last issued its earnings results on Friday, May 15th. The technology company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.10). ClearSign Technologies had a negative return on equity of 61.24% and a negative net margin of 111.66%.The company had revenue of $0.19 million during the quarter, compared to analysts’ expectations of $1.27 million. As a group, analysts expect that ClearSign Technologies Corporation will post -1.11 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Weiss Ratings restated a “sell (d-)” rating on shares of ClearSign Technologies in a research note on Wednesday, June 24th. HC Wainwright increased their target price on ClearSign Technologies from $2.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, April 14th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $20.00.

Institutional Trading of ClearSign Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Americana Partners LLC grew its position in shares of ClearSign Technologies by 83.3% during the 4th quarter. Americana Partners LLC now owns 55,000 shares of the technology company’s stock valued at $31,000 after acquiring an additional 25,000 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in shares of ClearSign Technologies by 895.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 71,730 shares of the technology company’s stock worth $40,000 after purchasing an additional 64,523 shares in the last quarter. Renaissance Technologies LLC raised its holdings in ClearSign Technologies by 89.6% in the 4th quarter. Renaissance Technologies LLC now owns 77,800 shares of the technology company’s stock worth $43,000 after purchasing an additional 36,769 shares during the period. Finally, Rockefeller Capital Management L.P. raised its holdings in ClearSign Technologies by 801.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 81,209 shares of the technology company’s stock worth $45,000 after purchasing an additional 72,200 shares during the period. 24.03% of the stock is owned by hedge funds and other institutional investors.

ClearSign Technologies Company Profile

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.