Key Points
- Major shareholder John Pasquesi purchased 500,000 ClearSign Technologies shares at an average price of $3.54, investing $1.77 million and increasing his position by 59.28% to 1.34 million shares.
- ClearSign reported weak quarterly results, with an adjusted loss of $0.39 per share versus the expected $0.29 loss and revenue of $0.19 million versus $1.27 million expected.
- CLIR shares opened at $3.96, well below their 52-week high of $11.20. Analyst sentiment is mixed, with one Buy and one Sell rating producing a consensus “Hold” rating and a $20 price target.
ClearSign Technologies Corporation (NASDAQ:CLIR - Get Free Report) major shareholder John Pasquesi bought 500,000 shares of the firm's stock in a transaction on Wednesday, July 22nd. The stock was purchased at an average cost of $3.54 per share, with a total value of $1,770,000.00. Following the completion of the acquisition, 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Major shareholders that own at least 10% of a company's shares are required to disclose their sales and purchases with the SEC.
ClearSign Technologies Stock Performance
Shares of NASDAQ CLIR opened at $3.96 on Wednesday. The firm's 50 day moving average price is $4.00 and its 200-day moving average price is $5.00. The company has a market cap of $25.02 million, a PE ratio of -4.01 and a beta of 1.37. ClearSign Technologies Corporation has a 52-week low of $3.16 and a 52-week high of $11.20.
ClearSign Technologies (NASDAQ:CLIR - Get Free Report) last posted its quarterly earnings results on Friday, May 15th. The technology company reported ($0.39) EPS for the quarter, missing analysts' consensus estimates of ($0.29) by ($0.10). The firm had revenue of $0.19 million for the quarter, compared to analysts' expectations of $1.27 million. ClearSign Technologies had a negative net margin of 111.66% and a negative return on equity of 61.24%. On average, analysts forecast that ClearSign Technologies Corporation will post -1.11 earnings per share for the current fiscal year.
Institutional Trading of ClearSign Technologies
A number of hedge funds have recently bought and sold shares of the company. Americana Partners LLC lifted its holdings in ClearSign Technologies by 83.3% in the fourth quarter. Americana Partners LLC now owns 55,000 shares of the technology company's stock valued at $31,000 after acquiring an additional 25,000 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in shares of ClearSign Technologies by 895.3% during 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 last quarter. Renaissance Technologies LLC increased its position in shares of ClearSign Technologies by 89.6% during the 4th quarter. Renaissance Technologies LLC now owns 77,800 shares of the technology company's stock valued at $43,000 after purchasing an additional 36,769 shares during the last quarter. Finally, Rockefeller Capital Management L.P. lifted its stake in shares of ClearSign Technologies by 801.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 81,209 shares of the technology company's stock worth $45,000 after purchasing an additional 72,200 shares during the period. Hedge funds and other institutional investors own 24.03% of the company's stock.
Wall Street Analysts Forecast Growth
Several analysts have commented on CLIR shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of ClearSign Technologies in a research note on Wednesday, June 24th. HC Wainwright boosted their price target on ClearSign Technologies from $2.00 to $20.00 and gave the stock a "buy" rating in a research note on Tuesday, April 14th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, ClearSign Technologies presently has a consensus rating of "Hold" and a consensus target price of $20.00.
Read Our Latest Analysis on CLIR
About ClearSign Technologies
(
Get Free Report)
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.
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