StockNews.com initiated coverage on shares of ClearSign Technologies (NASDAQ:CLIR – Free Report) in a research note published on Thursday morning. The firm issued a sell rating on the technology company’s stock.
Separately, HC Wainwright reissued a buy rating and set a $6.00 price objective on shares of ClearSign Technologies in a report on Tuesday, May 28th.
Check Out Our Latest Stock Analysis on CLIR
ClearSign Technologies Trading Down 8.8 %
ClearSign Technologies (NASDAQ:CLIR – Get Free Report) last posted its quarterly earnings data on Wednesday, May 15th. The technology company reported ($0.03) EPS for the quarter, hitting the consensus estimate of ($0.03). ClearSign Technologies had a negative net margin of 186.63% and a negative return on equity of 85.65%. The business had revenue of $1.10 million for the quarter, compared to analyst estimates of $1.02 million. On average, research analysts forecast that ClearSign Technologies will post -0.12 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, major shareholder Robert Thurston Sr Hoffman, Sr. bought 3,350,000 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was purchased at an average price of $0.91 per share, for a total transaction of $3,048,500.00. Following the completion of the transaction, the insider now owns 9,539,857 shares in the company, valued at $8,681,269.87. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 16.90% of the company’s stock.
Hedge Funds Weigh In On ClearSign Technologies
A hedge fund recently bought a new stake in ClearSign Technologies stock. Prevail Innovative Wealth Advisors LLC purchased a new position in ClearSign Technologies Co. (NASDAQ:CLIR – Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 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 at the end of the most recent reporting period. Hedge funds and other institutional investors own 24.03% of the company’s stock.
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.
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