ClearSign Technologies (NASDAQ:CLIR) Stock Passes Above 200 Day Moving Average - Here's Why

Key Points

• ClearSign Technologies shares traded above their 200-day moving average of $0.61, reaching a high of $0.99 and last closing at $0.98.
• The company reported a quarterly loss of ($0.03) earnings per share, surpassing expectations, with revenues of $0.13 million against a forecast of $0.64 million.
• Institutional investors now hold 24.03% of ClearSign Technologies' stock, reflecting significant recent activity in share buying and selling.

ClearSign Technologies Corporation (NASDAQ:CLIR - Get Free Report)'s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $0.61 and traded as high as $0.99. ClearSign Technologies shares last traded at $0.98, with a volume of 170,192 shares traded.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a "sell (d-)" rating on shares of ClearSign Technologies in a report on Saturday, September 27th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $2.00.

ClearSign Technologies Stock Performance

The stock has a market cap of $51.26 million, a P/E ratio of -8.89 and a beta of 1.18. The business has a 50 day simple moving average of $0.64 and a 200-day simple moving average of $0.61.

ClearSign Technologies (NASDAQ:CLIR - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The technology company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.04) by $0.01. The firm had revenue of $0.13 million during the quarter, compared to the consensus estimate of $0.64 million. ClearSign Technologies had a negative return on equity of 47.61% and a negative net margin of 203.65%. On average, sell-side analysts predict that ClearSign Technologies Corporation will post -0.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CLIR. Integrity Alliance LLC. bought a new position in ClearSign Technologies in the 1st quarter valued at $30,000. Northwestern Mutual Wealth Management Co. grew its stake in 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 valued at $40,000 after purchasing an additional 64,523 shares during the period. Citadel Advisors LLC bought a new position in ClearSign Technologies in the 4th quarter valued at $49,000. Beacon Pointe Advisors LLC purchased a new position in shares of ClearSign Technologies during the 2nd quarter valued at $145,000. Finally, Simon Quick Advisors LLC purchased a new position in shares of ClearSign Technologies during the 1st quarter valued at $452,000. Institutional investors own 24.03% of the company's stock.

ClearSign Technologies Company Profile

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.

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