ClearSign Technologies Co. (NASDAQ:CLIR) Sees Large Decline in Short Interest

ClearSign Technologies Co. (NASDAQ:CLIR) was the recipient of a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 278,200 shares, a decrease of 8.5% from the August 15th total of 304,000 shares. Based on an average daily volume of 75,000 shares, the days-to-cover ratio is currently 3.7 days.

ClearSign Technologies Stock Up 5.6 %

ClearSign Technologies stock traded up $0.04 during mid-day trading on Wednesday, reaching $0.75. The company had a trading volume of 59,118 shares, compared to its average volume of 66,498. The firm has a market cap of $37.65 million, a price-to-earnings ratio of -6.09 and a beta of 1.05. The company has a 50 day moving average of $0.78 and a 200-day moving average of $0.84. ClearSign Technologies has a 52 week low of $0.62 and a 52 week high of $1.72.

ClearSign Technologies (NASDAQ:CLIR) last posted its quarterly earnings results on Wednesday, August 21st. The technology company reported ($0.04) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.04). The company had revenue of $0.05 million for the quarter, compared to analyst estimates of $0.33 million. ClearSign Technologies had a negative net margin of 210.18% and a negative return on equity of 66.91%. During the same period last year, the business posted ($0.04) EPS. On average, analysts predict that ClearSign Technologies will post -0.13 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CLIR. StockNews.com began coverage on ClearSign Technologies in a research report on Sunday. They set a “sell” rating for the company. HC Wainwright reiterated a “buy” rating and set a $6.00 price target on shares of ClearSign Technologies in a report on Thursday, August 22nd.

Insiders Place Their Bets

In related news, major shareholder Robert Thurston Sr Hoffman, Sr. bought 3,350,000 shares of the firm’s stock in a transaction on Monday, June 24th. The stock was purchased at an average price of $0.91 per share, with a total value of $3,048,500.00. Following the completion of the transaction, the insider now directly owns 9,539,857 shares of the company’s stock, valued at $8,681,269.87. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 16.90% of the company’s stock.

Institutional Trading of ClearSign Technologies

A hedge fund recently raised its stake in ClearSign Technologies stock. Disciplined Investments LLC increased its holdings in shares of ClearSign Technologies Co. (NASDAQ:CLIR) by 223.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 48,016 shares of the technology company’s stock after acquiring an additional 33,152 shares during the period. Disciplined Investments LLC owned about 0.12% of ClearSign Technologies worth $46,000 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.