ClearSign Technologies (NASDAQ:CLIR) Issues Earnings Results, Beats Estimates By $0.03 EPS

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

ClearSign Technologies Stock Up 9.4%

ClearSign Technologies stock traded up $0.40 during trading hours on Friday, hitting $4.65. The stock had a trading volume of 26,432 shares, compared to its average volume of 22,666. The stock’s 50-day moving average price is $3.84 and its 200-day moving average price is $4.70. The stock has a market capitalization of $29.34 million, a P/E ratio of -4.70 and a beta of 1.38. ClearSign Technologies has a 12-month low of $3.16 and a 12-month high of $11.20.

Insider Activity at ClearSign Technologies

In other news, major shareholder John M. Pasquesi purchased 500,000 shares of ClearSign Technologies stock in a transaction that occurred on Wednesday, July 22nd. The stock was bought at an average price of $3.54 per share, with a total value of $1,770,000.00. Following the completion of the transaction, the insider directly owned 1,343,477 shares of the company’s stock, valued at approximately $4,755,908.58. The trade was a 59.28% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.22% of the stock is currently owned by insiders.

Institutional Trading of ClearSign Technologies

An institutional investor recently raised its stake in ClearSign Technologies stock. Northwestern Mutual Wealth Management Co. grew its holdings in ClearSign Technologies Corporation (NASDAQ:CLIR) by 895.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,730 shares of the technology company’s stock after purchasing an additional 64,523 shares during the period. Northwestern Mutual Wealth Management Co. owned about 0.14% of ClearSign Technologies worth $40,000 as of its most recent SEC filing. Institutional investors own 24.03% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of ClearSign Technologies in a research note on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, ClearSign Technologies has a consensus rating of “Hold” and a consensus price target of $20.00.

About ClearSign Technologies

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.