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

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

ClearSign Technologies Trading Up 9.4%

CLIR stock traded up $0.40 during trading on Friday, reaching $4.65. The stock had a trading volume of 26,432 shares, compared to its average volume of 22,666. ClearSign Technologies has a 52 week low of $3.16 and a 52 week high of $11.20. The stock’s 50 day moving average is $3.84 and its two-hundred day moving average is $4.70. The firm has a market cap of $29.34 million, a PE ratio of -4.70 and a beta of 1.38.

Insider Transactions at ClearSign Technologies

In other news, major shareholder John M. Pasquesi purchased 500,000 shares of the business’s stock in a transaction on Wednesday, July 22nd. The stock was acquired at an average cost of $3.54 per share, for a total transaction of $1,770,000.00. Following the purchase, the insider directly owned 1,343,477 shares in the company, valued at $4,755,908.58. This trade represents a 59.28% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 5.22% of the company’s stock.

Hedge Funds Weigh In On ClearSign Technologies

A hedge fund recently raised its stake in ClearSign Technologies stock. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of ClearSign Technologies Corporation (NASDAQ:CLIR) by 895.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 71,730 shares of the technology company’s stock after buying an additional 64,523 shares during the quarter. Northwestern Mutual Wealth Management Co. owned approximately 0.14% of ClearSign Technologies worth $40,000 at the end of the most recent quarter. 24.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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