ClearSign Technologies (NASDAQ:CLIR) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of ClearSign Technologies (NASDAQ:CLIR) from a hold rating to a sell rating in a research note published on Monday, Zacks.com reports.

According to Zacks, “ClearSign Technologies Corporation provides industrial combustion and sensing technologies for industrial and commercial systems. The company’s OEM products consists ClearSign Core(TM) and ClearSign Eye(TM) and other sensing configurations. It serves energy, commercial/industrial boiler, chemical, petrochemical, transport and power industries. ClearSign Technologies Corporation, formerly known as ClearSign Combustion Corporation, is based in Seattle, United States. “

Separately, HC Wainwright reduced their price target on shares of ClearSign Technologies from $10.00 to $6.00 and set a buy rating on the stock in a report on Thursday, September 9th.

CLIR stock opened at $2.31 on Monday. The company has a market cap of $72.72 million, a P/E ratio of -8.88 and a beta of 0.93. ClearSign Technologies has a 52 week low of $2.10 and a 52 week high of $6.00. The company’s 50-day moving average price is $3.56 and its 200 day moving average price is $4.35.

ClearSign Technologies (NASDAQ:CLIR) last released its quarterly earnings data on Thursday, August 19th. The technology company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.02). As a group, analysts predict that ClearSign Technologies will post -0.26 earnings per share for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Millennium Management LLC purchased a new position in shares of ClearSign Technologies during the second quarter valued at approximately $94,000. State Street Corp acquired a new position in ClearSign Technologies during the second quarter worth approximately $193,000. Geode Capital Management LLC increased its position in ClearSign Technologies by 6.5% during the second quarter. Geode Capital Management LLC now owns 259,780 shares of the technology company’s stock worth $1,246,000 after purchasing an additional 15,757 shares during the last quarter. Vanguard Group Inc. increased its position in ClearSign Technologies by 0.6% during the second quarter. Vanguard Group Inc. now owns 1,082,978 shares of the technology company’s stock worth $5,198,000 after purchasing an additional 6,768 shares during the last quarter. Finally, Wolverine Trading LLC increased its position in ClearSign Technologies by 196.1% during the second quarter. Wolverine Trading LLC now owns 11,821 shares of the technology company’s stock worth $57,000 after purchasing an additional 24,121 shares during the last quarter. 10.07% of the stock is currently owned by institutional investors and hedge funds.

About ClearSign Technologies

ClearSign Technologies Corp. engages in the design and development of technologies for the combustion systems. Its product Duplex technology focuses on the performance enhancement of combustion systems in a broad range of markets, including the energy, commercial and industrial boiler, chemical, petrochemical, and power industries.

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