ClearSign Technologies (NASDAQ:CLIR) Stock Crosses Above 200 Day Moving Average – Here’s Why

ClearSign Technologies Co. (NASDAQ:CLIR) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $0.81 and traded as high as $0.87. ClearSign Technologies shares last traded at $0.85, with a volume of 65,660 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CLIR. HC Wainwright reaffirmed a “buy” rating and issued a $6.00 target price on shares of ClearSign Technologies in a report on Thursday, August 22nd. StockNews.com began coverage on ClearSign Technologies in a research report on Thursday. They set a “sell” rating on the stock.

ClearSign Technologies Stock Performance

The firm has a market cap of $41.99 million, a price-to-earnings ratio of -6.83 and a beta of 1.06. The stock’s 50 day moving average is $0.78 and its 200 day moving average is $0.81.

ClearSign Technologies (NASDAQ:CLIR) last announced its earnings results on Wednesday, August 21st. The technology company reported ($0.04) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.04). ClearSign Technologies had a negative return on equity of 66.91% and a negative net margin of 210.18%. The company had revenue of $0.05 million for the quarter, compared to analyst estimates of $0.33 million. During the same quarter last year, the company earned ($0.04) earnings per share. On average, equities research analysts predict that ClearSign Technologies Co. will post -0.13 EPS for the current year.

Institutional Trading of ClearSign Technologies

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

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.