ClearSign Technologies (NASDAQ:CLIR) Releases Quarterly Earnings Results, Beats Expectations By $0.03 EPS

ClearSign Technologies (NASDAQ:CLIR) announced its earnings results on Friday. The technology company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.03, Zacks reports. ClearSign Technologies had a negative return on equity of 61.24% and a negative net margin of 111.66%.

ClearSign Technologies Stock Performance

Shares of CLIR stock traded up $0.40 during trading hours on Friday, hitting $4.65. 26,432 shares of the company were exchanged, compared to its average volume of 22,666. The stock has a market capitalization of $29.34 million, a price-to-earnings ratio of -4.70 and a beta of 1.38. ClearSign Technologies has a one year low of $3.16 and a one year high of $11.20. The business’s 50-day simple moving average is $3.84 and its two-hundred day simple moving average is $4.70.

Insiders Place Their Bets

In other news, major shareholder John M. Pasquesi acquired 500,000 shares of the stock in a transaction that occurred on Wednesday, July 22nd. The stock was purchased at an average cost of $3.54 per share, with a total value of $1,770,000.00. Following the completion of the acquisition, the insider directly owned 1,343,477 shares in the company, valued at $4,755,908.58. This represents a 59.28% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 5.22% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ClearSign Technologies

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

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of ClearSign Technologies in a report on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, ClearSign Technologies presently has an average rating of “Hold” and a consensus target price of $20.00.

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.